Los Angeles County Employees Retirement Association (LACERA) has approved a €150 million ($177 million) commitment to DIF Infrastructure VI Fund, a fund managed by DIF Capital Partners.
DIF VI is investing in both greenfield and operational assets around Europe, North America, South America and Australia. The fund has assembled a “strong pipeline of investments,” according to the firm’s website.
IREI understands that the vehicle recently raised €3 billion ($3.5 billion) in a final close.
This is LACERA’s first commitment to this manager, a spokesperson for the fund confirmed in an email. The pension fund has invested $1.7 billion in infrastructure as of August, all of which is in a public market equity portfolio.
LACERA has a 3 percent strategic allocation to the infrastructure asset class.
