School Employees Retirement System of Ohio (Ohio SERS) has made a $75m (€65.9m) commitment to Brookfield Asset Management’s second global energy transition fund.

The pension fund said in a meeting document that it had made the non-core capital commitment to Brookfield Global Transition Fund II, a fund which targets investments in clean energy and decarbonisation.

As previously reported, the Brookfield fund, which has a $17bn fundraising target, is expected to have a final close in the first half of 2025.

Fund II’s seed portfolio includes a UK-based renewable-energy developer and an Indian solar development venture.

The fund targets a 12% internal rate of return and focuses on opportunities in renewable power, business transformation, carbon capture and storage and renewable natural gas sectors.

The pension fund’s infrastructure holdings now total $1.34bn, representing 38% of its overall real assets portfolio.

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