Three US public penison funds have committed $500m (€406m) to a digital infrastructure fund.

Teacher Retirement System of Texas, Employees Retirement System of Texas and Virginia Retirement System have committed $250m, $150m and $100m, respectively, to Digital Colony Partners II, according to information provided by each investor.

The fund is the follow-up to Digital Colony’s debut infrastructure fund, which raised $4bn in 2019

The capital raising target for the new fund was not disclosed.

It will invest in developed markets on a global basis, according to Texas Teachers.

Digital Colony has experience of investing in the US, Europe, Brazil and Mexico. Last year it entered Brazil’s infrastructure market and earlier this year established a Latin American data-centre platform.

It has invested in data centres, macro cell towers, fibre networks and small-cell networks.

Texas Teachers is investing in the fund as part of its energy, natural resources and infrastructure portfolio.

The pension fund has invested with Digital Colony before, havingi issued $500m worth of commitments since 2018.