San Francisco Employees Retirement System (SFERS) has approved a $57.55m (€52.4m) commitment to Sustainable Asset Fund IV, an infrastructure vehicle managed by Vision Ridge Partners.

According to a board meeting document, the pension fund approved an $80m commitment to the fund in early 2023, but at the closing of the commitment in late December 2023 the fund manager accepted a lower commitment of $57.55m.

Vision Ridge Partners declined to comment.

The fund focuses on energy, transportation and agriculture sectors. Its predecessor held a final close in April 2021, securing $1.5bn

San Franciso ERS also revealed that it had made an $80m commitment to the Partners Solutions/S Joint Venture, which is managed by Crow Holdings.

To read the latest IPE Real Assets magazine click here.