South Carolina Retirement System (SCRS) has approved a $40m (€37.2m) commitment to Peppertree Capital Management’s latest US digital infrastructure fund.
The pension fund disclosed in a board meeting document that it has placed the capital into Peppertree Capital Fund X.
In December last year, IPE Real Assets reported that Peppertree Capital had raised $1.1bn for the fund, adding that since fundraising began in July that year, the manager l had received interest from investors that could take the fund beyond $1.5bn, and had set an upper limit of $2bn.
The capital commitment from SCRS was completed in the final week of April this year.
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