The Oregon State Treasury has approved commitments to Global Infrastructure Partners (GIP) and EnCap Flatrock Midstream (EFM), according to a recent board meeting document.
The pension fund invested $251 million in Global Infrastructure Partners Fund V, with a $99 million sidecar, and $150 million in EnCap Flatrock Midstream Fund V, with a sidecar of $50 million.
Global Infrastructure Partners V is believed to have a $25 billion equity fundraising target, according to GIP discussions in 2022 about the upcoming launch of the fund. The investment strategy of the predecessor fund was to invest in energy, transportation and wastewater infrastructure assets. Assets within the energy sector include midstream, renewables, utilities and LNG, while transportation assets include airports, ports and rail. Wastewater investments include utilities, industrial and energy from waste.
EnCap Flatrock Midstream Fund V is managed by EnCap Flatrock Midstream (EFM), a partnership fo