The Maryland State Retirement and Pension System (MSRPS) committed $120 million to ISQ Global Infrastructure Fund III, contributing to the fund’s $15 billion final closing that took place in April.
ISQ Global Infrastructure Fund III, managed by I Squared Capital, will seek to invest private capital to build infrastructure assets that address the critical challenges of a post-COVID world, including climate change, supply chains, the digital transformation and the energy transition.
Including commitments from I Squared Capital and a dedicated co-investment vehicle, the fund has $15.5 billion in investable capital, surpassing its initial target of $12 billion. A spokesperson for the pension fund said this represents MSRPS’ first investment with this manager.
Effective July 1, the infrastructure target will be 4 percent. The current allocation is around 2 percent.