Texas Municipal Retirement System has made a $150m (鈧�140.3m) commitment to the latest SDC Capital Partners-managed value-add digital infrastructure fund.
The pension fund said in a meeting document that it has placed the capital into the SDC Digital Infrastructure Opportunity Fund IV fund.
SDC Capital Partners announced in April that its fourth fund had . SDC Capital raised $1.5bn for the previous fund in the series that closed in March 2022.
As previously reported, the latest SDC Capital fund will target value-add investments across the digital infrastructure sector, with potential opportunities in data centres, fibre networks, and wireless infrastructure.
The US-based manager with a global reach, targets deals from $50m to over $500m.
The commitment from Texas Municipal represents the first infrastructure commitment the pension fund has issued so far in 2024.
Texas Municipal has the potential to invest between $300m to $600m in infrastructure this year, according to its pacing plan.
The board meeting document also reveals a plan to invest up to $600m in real estate in 2024. However, as of 30 June 2024, the pension fund has not made any commitments towards real estate investments.
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