School Employees Retirement System of Ohio (Ohio SERS) has approved a $70m (€63.1m) commitment into a global core and core-plus fund managed by Fiera Capital’s infrastructure arm.

The $14.6bn pension fund said it is backing Fiera Infrastructure’s EagleCrest Infrastructure Fund, an open-ended fund which is expected to invest in assets that can produce an 8% to 10% net internal rate of return.

The EagleCrest Infrastructure Fund is made up of two vehicles. The EagleCrest Infrastructure Canada, established in July 2016 and the EagleCrest Infrastructure SCSp, which was set up in June last year.

All new investments are allocated to the two feeder vehicles. Investments made prior to the establishment of the EagleCrest Infrastructure SCSp will remain solely in the Canadian feeder vehicle.

At the end of the third quarter, The EagleCrest Infrastructure Fund had more than $1bn worth of assets under management and commitments.