Minnesota Board of Investment is pondering new commitments within its infrastructure related portfolio totalling $175m (€167.1m), according to a a board meeting document.
One of the commitments is for $50m for the Blackstone Energy Transition Partners Fund IV. This would be the second commitment issued by the pension fund for this commingled fund in 2024. The initial commitment was for $150m that it closed on during the first quarter
This activity would be part of a $5bn targeted capital raise by Blackstone, although the manager declined to comment further. The investment strategy for the commingled fund will be focused on the sub sectors that are primary and secondary beneficiaries of energy transition mega trends of renewable energy penetration, electrification, energy efficiency, and decarbonisation with the exclusion of oil and gas production and exploration.
The other projected new commitment by Minnesota is for $125m to be placed into the EQT Infrastructure VI commingled fund.
The targeted capital raise for the fund is €20bn. It will be investing on a global basis. Most of the capital will be invested in North America and Europe. It could explore some opportunities in the Asia/Pacific region.
The sectors the fund will be investing in are a mixture of digital, energy/environmental, transport/logistics, and social.
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