Pennsylvania Public School Employees’ Retirement System (PSERS) has approved a €200m commitment to a new infrastructure fund managed by DIF Capital Partners.
The pension fund disclosed in a meeting document that it has backed DIF Infrastructure VII, a fund seeking to raise €4bn with a €5bn hard cap target.
The commitment from Pennsylvania PSERS will represent the pension fund’s first-ever commitment to an infrastructure fund managed by DIF.
Fund VII will mainly target investments in Europe as well as some North American exposure is expected to complement the pension fund’s current infrastructure exposure which has mostly been placed into funds that are either global in nature or have a North American focus.
DIF expects Fund VII to hold a portfolio of around 25 investments with an average investment size ranging from €100m to €400m.
The fund will target core and core-plus assets as well as some build-to-core investments.
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