Sacramento County Employees’ Retirement System has approved a $50m (€42.2m) commitment to the Manulife Infrastructure Fund III, according to a board document.
This investment represents a new manager relationship for the pension fund’s infrastructure portfolio.
Manulife Investment Management is targeting $4.5bn for Fund III, having raised $1.24bn through September 2024, according to an SEC filing.
Manulife secured total commitments of $4.65bn for Infrastructure Fund II with a final closing in November 2021. The target capital raise was $2.6bn.
The new fund is expected to pursue a global strategy to invest in core/core-plus assets, including telecommunications, data centres, fibre networks, solar power and shared networks.
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