Teachers’ Retirement System of Louisiana has approved a $50m (€42.4m) commitment each to infrastructure funds managed by Energy Capital Partners (ECP) and Bernhard Capital Partners (BCP) Management.
According to the pension fund’s meeting document, the capital has been placed in the ECP VI and BCP Infrastructure Fund II funds.
The ECP VI fund aims to raise $5bn with a hard cap of $7.5bn to invest in value-add electricity and sustainable infrastructure assets in North America. The fund plans to make 10 to 15 investments, with each transaction having an equity component of $250m to $750m and an expected hold period of four to six years.
The BCP Infrastructure Fund II aims to raise $2bn with a $2.25bn hard cap.
The US core-plus fund mainly targets middle-market regulated natural gas, electric and and water utilities, with additional exposure to electric transmission, energy transition and transportation.
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