The $44.1 billion Connecticut Retirement Plans and Trust Funds has committed up to $75 million to ISQ Global Infrastructure Fund II, according to board meeting documents.
Denise L. Nappier, treasurer for the pension fund, approved the decision. Nappier said that the commitment was contingent upon successful negotiation of the partnership documents.
ISQ Global Infrastructure Fund II, managed by I Squared Capital, was formed to invest in medium-sized value-added infrastructure assets, primarily focusing in North America, Europe, Asia and Latin America across the energy, utilities and transportation sectors, according to the document. The fund has raised approximately $3.5 billion so far, nearing a first close. The fund seeks to raise $5 billion.
The fund has also received commitments from additional pension funds, including $50 million from Hawaii Employees’ Retirement System and $150 million from Texas Municipal Retirement System.
The fund’s predecessor, ISQ Global Infrastructure Fund, held a $3 billion final close in 2015.
I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities and transport in North America, Europe and select high-growth economies.
