The $35.5 billion Employees’ Retirement System (ERS) of Texas has made three commitments to private infrastructure funds.
The pension fund committed $100 million to ISQ Growth Fund, managed by I Squared Capital Advisors, and $20 million each to two undisclosed co-investment vehicles.
As of December 2021, the ISQ Growth Markets Infrastructure Fund had secured $846 million, bringing it near the halfway mark of its $2 billion fundraising target. ISQ Growth Markets Infrastructure Fund aims to take advantage of the large number of investment opportunities in the infrastructure sector across growth markets in Asia and Latin America. The vehicle is an extension of ISQ Global Infrastructure Fund III.
As of November 2021, Texas ERS had a 4.38 percent allocation to infrastructure.