Ohio Police & Fire Pension Fund has approved an $80m (€75.6m) commitment to Brookfield Infrastructure Fund (BIF) V.

As previously reported, Brookfield is seeking to raise $25bn for its fifth global infrastructure fund.

Ohio Police & Fire made its commitment based on the recommendation of investment consultant The Townsend Group.

Other US pension funds that have committed capital to BIF V include the South Carolina Retirement System, Teachers’ Retirement System of the State of Illinois, the New Mexico State Investment Council, and the Teacher Retirement System of Texas.

As previously reported, Brookfield is expected to exceed the $25bn fundraising target for the global infrastructure fund. Brookfield raised $20bn for BIF IV which closed in February 2020, exceeding its original $17bn fundraising target as a result of strong investor demand. 

BIF V is expected to target sectors like transportation, data, renewable power, utilities and energy.

Ohio Police & Fire’s commitment is the pension fund’s first infrastructure commitment for 2023. As previously reported, the pension fund expects to invest up to $350m in infrastructure funds this year.

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