Los Angeles County Employees Retirement Association (LACERA) has approved a €100m commitment to into new Antin Infrastructure Partners mid-market fund.
The $58.5bn (€49.5bn) pension fund said in a meeting document that it has approved the capital to Antin Mid Cap Fund I, an infrastructure fund expected to mostly target assets in Western Europe as well as some assets in other regions like the US and Canada.
According to sources, the opportunistic fund has a €1.5bn fundraising target and LACERA is believed to be one of the first investors in the new fund. The fund will target assets including telecommunications, energy, transportation and social infrastructure assets.
LACERA created a 3% allocation to the infrastructure asset class in the latter part of 2018 and made its debut infrastructure investment a year after.
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