New Mexico Educational Retirement Board (NMERB) is investing $50m (€45.9m) in the Prostar Energy Infrastructure II fund.

The pension fund has previously sought to limit the number of infrastructure fund managers it employs, due to limited in-house resources, but made an exception for the fund.

The fund invests in energy infrastructure globally and NMERB said it anticipated strong global demand for such assets.

Prostar Capital declined a request for comment.

According to the Washington State Investment Board (WSIB), which is one of the lead investors in the fund, committing $200m last year, Prostar is seeking to raise $750m for the fund.