Alameda County (Calif.) Employees’ Retirement Association (ACERA) has approved a $30 million investment in EQT Infrastructure V, according to a board packet from the pension fund’s Oct. 15 meeting.
EQT Infrastructure began fundraising for its fifth vehicle in June and in September set the hard cap for the fund at €15 billion ($17.7 billion). The target fund size is €12.5 billion ($14.7 billion).
The previous fund in the series, Fund IV, primarily pursued investment opportunities in Europe and North America, as well as opportunistic investments in Asia Pacific. That fund closed at its hard cap of €9 billion ($10.6 billion) in March 2019.
EQT Infrastructure’s fund series invests in high-quality companies with infrastructure characteristics and strong value-c
