Public School Employees’ of Pennsylvania (PSERS) has approved a $400 million investment in ISQ Global Infrastructure Fund III, a private infrastructure fund managed by Miami-based I Squared Capital Advisors.
The $55.8 billion pension fund said it is the first investment with I Squared Capital and will be allocated to PSERS’ private infrastructure portfolio, which currently consists of four partnerships and one co-investment.
ISQ Global Infrastructure Fund III, like the previous two funds in the series, will take a sector-agnostic approach to portfolio construction, targeting assets that fit within the firm’s risk model. The fund is seeking to raise $12 billion.
ISQ employs two different strategies. The first strategy is mid-market platform building and the second strategy is opportunistic in nature, whereby the fund and its co-investors target larger investments with an element of distress or pricing dislocation. The fund will generally seek a controllin
