Ohio Police & Fire Pension Fund has committed $80m (€74.1m) to the iCON Infrastructure Partners VII fund, marking its third investment in the iCON Infrastructure fund series.
The pension fund’s latest commitment follows a $75m commitment to Partners V in 2020 and $80m to Partners VI in 2022. Partners VI, the previous fund in the series, raised $3.6bn, surpassing its $3bn target.
The capital raise target for Partners VII is currently unknown.
Partners VII will seek investments in core-plus and value-add assets across Europe and North America, aiming to achieve net returns in the low double-digit range. The fund will target energy and environmental, telecommunications, healthcare, transportation and logistics sectors.
Ohio Police & Fire Pension Fund has placed its commitment to Partners VII into its real assets portfolio, which is valued at $1.2bn. The portfolio represents 6.2% of the pension fund’s total assets, compared with a targeted allocation of 8%.
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