The $201.3 billion New York State Common Retirement Fund has committed $200 million to Meridiam Infrastructure North America Fund III. It marks the pension fund’s first commitment to Meridiam.
MINA III is a North American–focused infrastructure fund. The fund will invest in a range of infrastructure projects, with a focus on long-term greenfield contracted infrastructure projects in North America. The investment closed on Oct. 27, 2017.
The fund had a final closing on Oct. 31, 2017, with $1.2 billion in equity commitments. The 25-year fund will invest in sustainable and climate resilient assets in accordance with Meridiam’s environmental, social and governance policy, with the aim of benefitting local communities.
“North American institutional investors showed strong appetite for the type of stable, long-term investment returns that we believe infrastructure can deliver while helping local communities develop,” stated Thierry Déau, founder and CEO of Meridiam, in a statement.
