OCTOBER 21, 2013

PSERS makes $150m commitment to infrastructure

by Andrea Waitrovich

The $49.3 billion Pennsylvania Public School Employees' Retirement has committed $150 million to the International Infrastructure Finance Company Fund, managed by Mariner Investment Group.

Mariner Investment Group is seeking to raise between $200 million and $400 million of equity commitments. IIFC Fund III is being formed to invest, directly or indirectly, in global infrastructure assets primarily through investments of tranched exposure to portfolios of project finance senior debt facilities or whole portfolio acquisitions. The firm expects to hold a first closing on IIFC Fund III during the fourth quarter.

IIFC Fund III will predominantly be invested in European infrastructure loans. It will focus on assets that are in the post-construction phase will assist in securing attractive risk/reward opportunities for the fund.

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