Orange County Employees Retirement System (OCERS) has made a $75m (€62.9m) commitment to EQT’s latest global fund to help diversify the pension fund’s exposure into value-add investments.

The pension fund said in a meeting document that it has committed the capital to EQT Infrastructure Fund V, a fund seeking a €12.5bn capital raise and a €15bn hard cap target.

The EQT fund, which will mostly invest in Europe and North America, will target sectors like energy, environmental, transportation, logistics, social and telecommunications.

OCERS, which seeks to lower its core real estate exposure – to 7% from 9% – by issuing $400m worth of redemptions, said it has so far requested $110m from the AEW Core Property Trust and $49.3m from the JP Morgan Strategic Property Fund.

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