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Seattle commits $15m to infrastructure

by Zoë Wolff

The $2.4 billion Seattle City Employees’ Retirement System has committed $15 million to Brookfield Infrastructure Fund III, according to recent meeting documents.

The fund, managed by Brookfield Asset Management, is targeting $12 billion. The fund has recently received investments from the Maine Public Employees Retirement System and the School Teachers Pension & Retirement Fund of Chicago.

Brookfield Infrastructure Partners II, the fund’s predecessor, held a final close of $7 billion in October 2013. The fund invests in North American infrastructure.

While this is the pension fund’s first commitment to a Brookfield infrastructure fund, SCERS committed $15 million to Brookfield Strategic Real Estate Partners in October 2015.

The pension fund has a 3 percent target allocation to infrastructure.

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