The State Board of Administration (SBA) of Florida has disclosed commitments to a transport fund and an infrastructure fund on behalf of its strategic investments asset class.
Florida SBA committed $200 million to Red Hills Rail I — a.k.a. ITE Rail Co-Invest — managed by ITE Management, an investment firm that targets transportation and industrial assets, companies and related services. ITE is not a new manager for the pension fund, according to a recent investment report of managers for the second quarter 2022.
Florida SBA also committed $150 million to ISQ Growth Markets Infrastructure Fund, a closed-end infrastructure fund managed by I Squared Capital Advisors. The fund is seeking to raise $2 billion to take advantage of the large number of investment opportunities in the infrastructure sector across growth markets in Asia and Latin America. I Squared was a new manager for Florida SBA.