Employees Retirement System (ERS) of Texas has approved a $50m (€46.4m) commitment to a new emerging markets-focused infrastructure fund managed by Actis.

The pension fund has commitment to Actis Long Life Infrastructure Fund (ALLIF) 2, a fund whose fundraising details are not yet public.

Actis raised $1.23bn for its ALLIF 1 at the fund’s close in August 2019.

The ALLIF fund series targets operating infrastructure assets across a variety of regions that would include North America, Europe, Latin America, the Middle East and Asia.

The fund series typically invests in assets that offer stable cash flows and can generate operational value over a prolonged holding period of at least 10 years.  

Actis declined to a request for comment.

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