Texas ERS commits A$65m to Australian infrastructure fund
The $24.9 billion Employees Retirement System of Texas has committed A$65 million ($48.7 million) to QIC Global Infrastructure Fund, an infrastructure fund managed by Australia-based Queensland Investment Corp.
The closed-end QIC Global Infrastructure Fund will offer investors access to a large investable universe of attractive infrastructure assets in developed OECD economies with a focus on Australia. The fund is targeting A$1.5 billion ($1.12 billion) of total capital commitments.
The QIC fund held a A$1.06 million ($800 million) first close in August 2014, representing more than 50 percent of its equity fundraising target. The fund is scheduled to hold a final close in first quarter 2017.
QIC’s second investment vehicle in its infrastructure portfolio is its