Investors - SEPTEMBER 13, 2022

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Michigan Office of Retirement Services backs Ridgewood, Ardian infrastructure funds

by Kali Persall

The Michigan Office of Retirement Services has committed $175 million to two infrastructure funds managed by Ardian and Ridgewood Infrastructure.

The majority of the investment — $100 million — went to Ardian Secondary Fund VIII Infrastructure (ASF VIII Infrastructure), which will focus on high-quality infrastructure funds and assets, managed by blue-chip general partners in North America and Europe. ASF VIII Infrastructure is targeting a diverse range of underlying assets, ranging from renewable energy and telecoms to transport and utilities. In April, the fund had raised $5.25 billion, reaching its hard cap and making it the largest infrastructure secondaries platform in the world.

Michigan also committed $75 million to Ridgewood Water & Strategic Infrastructure Fund I, managed by Ridgewood Infrastructure. The fund will target water-related and other strategic infrastructure assets in the U.S. lower middle market. Ridgewood’s previous investments include as

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