Los Angeles County Employees Retirement Association (LACERA) has made a $200m (鈧�172.7m) commitment to an infrastructure fund managed by Vision Ridge Partners.
The pension fund disclosed in its board meeting summary that it had placed the capital into Vision Ridge Partners Sustainable Asset Fund IV fund.
The Vision Ridge fund had its first closing in December last year, raising $1.2bn in total commitments.
According to sources, the manager is seeking to raise $2.5bn for the fund which targets energy, transportation and agriculture sectors. Its predecessor held a final close in April 2021, securing $1.5bn.
Fund IV, which has a 10-year lifespan, targets an internal rate of returns of 15% as it targets assets in North America, Europe and Asia.
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