New Jersey Division of Investment (DOI) is planning a $400m (€366.8m) commitment to an EQT infrastructure strategy.
The pension fund disclosed in a meeting document that it intends to make a $200m commitment to EQT infrastructure VI and place an equal amount into a co-investment sidecar vehicle to invest alongside the EQT fund.
As previously reported, EQT has set a €20bn fundraising target and a hard cap of €21bn for its latest infrastructure fund. Fund VI will invest globally in digital, energy/environmental, transportation, logistics and social infrastructure. The fund targets a mid-teens net internal rate of returns.
New Jersey DOI is also considering a $300m commitment to Carlyle Realty Partners X, a fund seeking to raise $8bn with a hard cap of $10bn.
Realty Partners X is currently a blind pool, as the investment period is not projected to commence until late this year or early 2025.
As previously reported, the fund will focus on demographic and technology-driven sector assets like residential, self-storage and industrial that can generate a net internal rate of return of 14% to 17%.
The pension fund has approved a $150m investment in KSL Capital Partners Tactical Opportunities II, a real estate fund seeking to raise $1bn to invest in credit, debt securities, equity and equity-linked securities globally.
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