The $750 million Merced County (Calif.) Employees’ Retirement Association has committed $5 million to KKR Global Infrastructure Investors III, according to Kristen Santos, retirement plan administrator for the pension fund.
KKR’s new fund is the third fund in the global infrastructure series. The firm’s infrastructure strategy is to seek investments with limited downside risk. KKR Global Infrastructure Investors III will target investments in energy, renewables, transportation and utilities.
MCERA committed $10 million to the fund’s predecessor, KKR Global Infrastructure Investors II, in 2014. The fund held a $3.1 billion final close in 2015.
In recent commitments to infrastructure and energy funds, MCERA committed $5 million each to ISQ Global Infrastructure Fund II and EnCap Flatrock Midstream Fund IV in 2017.
