Ohio Police & Fire Pension Fund has made a $80m (€68.5m) commitment to a Meridiam Infrastructure Partners-managed North America fund.
The pension fund said it has committed the capital to Meridiam Infrastructure North America Fund IV, a fund seeking to raise $1.7bn.
Fund IV will be seeking investments in transportation, social and environmental sectors that are expected to generate gross returns of 12% to 15%.
Ohio Police & Fire said it expects the fund to pursue a greenfield-focused build-to-core strategy as it targets assets like light rail, roads, ports, airports, schools, water and fibre network assets.
Ohio Police & Fire issued the commitment from its real assets portfolio which targets infrastructure, agriculture and timber investments.
The pension fund’s real assets portfolio is currently valued at $1.3bn, or 6.4% of its $20.2bn plan assets. The target allocation for the real asset portfolio is 8%.
To read the latest IPE Real Assets magazine click here.
