The Employees Retirement System (ERS) of Texas has announced two commitments to energy-related and private infrastructure funds during the month of June.
The pension fund committed $77.14 million to Quantum Energy Partners VIII (QEP VIII), managed by Quantum Energy Partners, and $75 million to Ardian Infrastructure Fund VI, managed by Ardian Infrastructure.
QEP VIII is an “all-weather fund” investing across the sustainable-energy ecosystem. The fund is seeking to allocate 60 percent to 70 percent of capital to zero- and low-carbon investments. The vehicle has a fundraising target of $3.5 billion.
In addition, Ardian Infrastructure Fund VI targets brownfield transport, environment, renewables and energy assets, with a primary focus in OECD Europe. The vehicle has a €10 billion ($11 billion) fundraising target.
The fund’s predecessor, Ardian Infrastructure Fund V, held a final close in March 2019 with €6.1 billion ($6.6 billion) of commitments.