The Employees Retirement System (ERS) of Texas has proposed to funnel $400 million into between three and six infrastructure investments in fiscal year 2021, according to a document outlining the pension fund’s newest infrastructure tactical plan.
ERS will target commitments in the range of $280 million to $520 million and will continue to seek sector diversification through exposure to core and non-U.S. markets, as well as emerging markets.
ERS said it will opportunistically seek core assets and look to establish key relationships, garnering seed investments, partnerships, co-investments and direct investments.
An overview of the fund’s private infrastructure program reveals ERS has lowered its infrastructure commitments target for fiscal year 2021, compared to previous years. Both fiscal year 2020 and 2019 had targets of
