Sacramento County Employees’ Retirement System has increased its manager lineup for its real assets portfolio with first-time commitments to Aberdeen Investments and KKR for infrastructure totaling $100m (€85.7m), according to documents filed by the pension fund.
One of the commitments approved in July was for $50m to be placed into the Aberdeen Global Sustainable Infrastructure Partners IV.
For this commingled fund, Sacramento County is expecting the fund to have a targeted capital raise of $500m.
Partners IV will be investing in social and economic infrastructure projects. These will include health, education, social housing, waste management, roads, bridges, solar, and energy transition.
The fund manager has already invested in a greenfield anaerobic digestion plant asset in the Deeside region of the UK, in an industrial park 40km south of Liverpool. The total cost of the project exceeds £60m. Its aim is to remove landfill waste and produce renewable energy while removing CO2 emissions from the conversion process.
The commitment with KKR by Sacramento County will be for $50m placed into the KKR Global Infrastructure Investors V commingled fund. It has a targeted capital raise of $20bn.
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