Retirement System commits $325m to two infrastructure funds
Investors - AUGUST 28, 2023

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Retirement System commits $325m to two infrastructure funds

by Lewis Dayton

With $105 billion AUM, Virginia Retirement System (VRS) has committed $325 million to two infrastructure funds, LS Power Equity Partners V and Global Infrastructure Partners Fund V.

Managed by LS Power, LS Power Equity Partners V captured $125 million from VRS, edging closer to its $2.5 billion fundraising target. The closed-end fund invests in power generation and energy transition infrastructure assets across North America. Since its inception in 1990, LS Power has developed, constructed, managed or acquired upwards of 46,000 megawatts of power generation, and the firm plans to increase those numbers with this latest fund.

VRS has also made a commitment of $200 million to Global Infrastructure Partners (GIP) Fund V, a closed-end fund managed by Global Infrastructure Partners. GIP Fund V invests in global infrastructure, with a primary focus in OECD countries (the fund is permitted to invest up to 15 percent in non-OECD countries). The fund will be seeking to capitali

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