Virginia Retirement System has made $325m (€300.6m) into infrastructure funds managed by Global Infrastructure Partners (GIP) and LS Power Equity Advisors.

The pension fund disclosed in a meeting document that it has invested $200m into Global Infrastructure Partners Fund V and placed $125m into the LS Power Equity Partners V fund.

As previously reported, GIP is seeking to raise $25bn for Fund V, for the global fund to target investments in the energy, transportation, water/waste and digital infrastructure sectors.

GIP will contribute a 1.5% co-investment of the total commitment to the fund. Partners V targets sectors like energy, transportation and digital mainly in OECD countries. The fund is allowed to have up to 15% of the portfolio in non-OECD countries.

The other new commitment by Virginia was for $125m for the LS Power Equity Partners V. This commingled fund is projected to be focused on investment opportunities in only countries in North America.

US power and energy infrastructure manager LS Power has set a $2.5bn fundraising target for its fifth private equity fund to invest in power generation and energy transition sectors. 

To read the latest edition of the latest IPE Real Assets magazine click here.

Topics