Employees Retirement System (ERS) of Texas has approved an $80m (€66.8m) commitment into Ardian’s latest Americas-focused infrastructure fund.
The pension fund said it has invested in Ardian Americas Infrastructure Fund V, a core-plus fund targeting assets in the US and North America.
It is currently unknown how much Ardian in planning to raise for the fund. The predecessor Ardian Americas Infrastructure Fund IV fund raised $880m in May 2018.
Fund V plans to allocate capital into a diversified pool of infrastructure sectors including transportation, renewable energy, and utilities.
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