San Joaquin County Employees’ Retirement Association (CERA) has approved $175m (€151.5m) of commitments split between I Squared Capital’s latest global infrastructure fund and a US apartment fund managed by Abacus Capital.
The pension fund disclosed in a board meeting document that it has allocated $100m to the I Squared Global Infrastructure Fund IV and $75m to the Abacus Multi-Family Partners VII fund.
I Squared is seeking to raise $15bn for its latest global infrastructure vehicle, which targets sectors including power and utilities, transport and logistics, digital, environmental and social infrastructure.
The value-add Abacus fund aims to raise $2bn to invest in garden-style apartments.
San Joaquin CERA also disclosed in the meeting document that it received a presentation on the Hines/Rialto Credit Partners fund for a potential future investment.
According to the pension fund, Hines and Rialto have closed on $830m of commitments through May this year. An additional $170m of capital has been circled and is currently at the investment committee stage with several prospective limited partners.
The US real estate debt fund is already 58% seeded with a $2.2bn portfolio comprising 25 assets, roughly 60% of which are located across New York, the San Francisco Bay Area and Washington DC.
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