Pennsylvania Public School Employees Retirement System (PSERS) has issued a $200m (€185.1m) commitment to a Brookfield fund focused on providing non-control capital to middle-market infrastructure assets and businesses.
Brookfield’s Infrastructure Specialized Solutions fund targets a $1bn fundraise, with a $250m general partner commitment.
The fund aims for net and gross internal rates of return of 12% and 15%, respectively as it targets investments in renewable power, transport, utilities, midstream and data infrastructure.
Most of the investments for the fund are expected to be in the form of preferred equity, some of which will include upside participation with investments ranging from $50m to $300m.
With the latest commitment, Pennsylvania PSERS has made four private infrastructure commitments worth over $800m in 2024. These investments include a $300m commitment to CION Grosvenor Infrastructure Interval Fund, a €200m commitment to Blackstone Infrastructure Partners Europe, and a $100m commitment to Peppertree Communications Infrastructure.
The pension fund’s private infrastructure commitments in 2023 comprised a €200m commitment to DIF Infrastructure VII and $200m to LS Power V.
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