South Carolina Retirement System (SCRS) has approved a $75m (€68m) commitment each into a real estate fund managed by Stockbridge and a fund managed by Basalt Infrastructure Partners.
The pension fund disclosed in a meeting document that it has placed capital into the Stockbridge Value Fund V and the Basalt Infrastructure Partners IV funds.
According to sources, Stockbridge’s value-add US real estate fund is nearing its first close but details of the amount raised is currently unknown. The previous fund in the series has a $562m final close in April 2021.
Stockbridge declined a request for comment.
Basalt’s previous fund in the series closed at $2.75bn in February 2021 to invest across Europe and North America, focusing on opportunities in the utilities, power, transport, and digital communications sectors.
Basalt did not respond to a request for comment.
To read the latest edition of the latest IPE Real Assets magazine click here.
