Minnesota State Board of Investment (BOI) is reviewing two potential commitments totaling $450m (€400.9m) for its real assets and real estate portfolios.
The pension fund disclosed in a meeting document that it is considering a $250m commitment to Energy Capital Partners Management’s latest energy infrastructure fund and a $200m allocation to TA Realty’s current value-add US real estate fund.
According to Minnesota BOI, Energy Capital Partners is seeking to raise $5bn for Energy Capital Partners VI.
Energy Capital Partners VI aims to invest in electricity infrastructure including transition fuels and renewables, and sustainable infrastructure like carbon capture and waste management.
The fund, which will mainly invest in North America, expects to make a total of 10 to 15 investments with equity commitments ranging from $250m to $750m.
TA Realty is seeking to raise $2bn for the TA Realty Value-Add Fund XIV fund.
The fund targets a 45% loan-to-value ratio and will mainly invest in industrial and multifamily properties, with smaller allocations planned for data centres, retail and office asset.
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