Pennsylvania Public School Employees’ Retirement System has approved a €100m commitment to CVC DIF’s global core-plus infrastructure fund.
The pension fund has backed DIF Infrastructure VIII, a fund seeking to raise €6bn with a target gross internal rate of return of 13% to 14%, which includes a targeted cash yield of at least 5%.
CVC DIF will co-invest an equal amount to 1% of the fund’s total capital commitments.
DIF Infrastructure VIII has a global strategy with a primary focus on Europe and North America as it targets sectors like social, transportation, renewable energy, energy transition and utilities.
The fund is expected to make around 20 majority or controlling investments in mid-market assets valued between €250m and €500m.
To read the latest IPE Real Assets magazine click here.
