Missouri Local Government Employees Retirement System (LAGERS) has approved a $50m (€45.8m) commitment to a global infrastructure fund managed by Global Infrastructure Partners (GIP).
The pension fund is expanding its $1.2bn infrastructure portfolio by placing the approved capital into Global Infrastructure Partners V, a fund seeking to raise $25bn to target investments in the energy, transportation, water/waste and digital infrastructure sectors.
As previously reported, the fund is expected to have final close in the second half of 2023.
Megan Loehner, deputy CIO at Missouri LAGERS said: “Global Infrastructure Partner is a distinguished group in the infrastructure sector. The manager’s reputation is built upon their extensive knowledge, unparalleled expertise and a proven track record of success that continues to provide value to the LAGERS’ portfolio.”
As previously reported, Connecticut Retirement Plans and Trust Funds was planning to commit $200m to GIP V.
Oregon Public Employees Retirement Fund also approved a $251m commitment directly into GIP V and an additional $99m for the fund’s co-investment sidecar fund. Washington State Investment Board also approved a $400m commitment to GIP V.
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