The $3.7 billion San Joaquin County (Calif.) Employees' Retirement Association (SJCERA) has announced a $50 million commitment to BlackRock Global Infrastructure Fund IV, which raised $4.5 billion of investor commitments at its first closing in October 2022.
With a target of $7.5 billion, BlackRock Global Infrastructure Fund IV will invest in essential infrastructure assets globally, building on the strategy of BlackRock’s Global Energy & Power Infrastructure Funds. The vehicle will target investments across five sectors: energy and environmental, low-carbon power, regulated utilities, transportation and logistics, and digital infrastructure.
BlackRock Global Infrastructure Fund IV succeeds the Global Energy & Power Infrastructure Fund III, which held a final close of $5.1 billion in 2020.