Los Angeles Fire and Police Pensions (LAFPP) has made its inaugural infrastructure investment, committing $60m (€52.1m) to an iCON Infrastructure Partners fund.

The pension fund disclosed in a board meeting document that it committed the capital to iCON Infrastructure Partners VII,  a fund expected to reach its $4bn final close soon.

LAFPP’s commitment to the fund is in line with the pension fund’s recent decision to establish a 2% target allocation for infrastructure.

The pension fund has set a $500m pacing amount for 2025, split into $300m for core and $200m for non-core investments.

The Virginia Retirement System also disclosed in its meeting document that it also made a $175m commitment to the iCON infrastructure fund expected to invest in European or North American middle-market infrastructure assets with core and core-plus characteristics.

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