The $78.3 billion Virginia Retirement System has committed $75 million to LS Power Equity Partners IV, according to Jeanne Chenault, public relations director for the pension fund.
LS Power Equity Partners IV, which is seeking to raise $2 billion, is a closed-end fund that invests in power generation, energy infrastructure and related assets in North America. The fund is managed by LS Power Group, a development, investment and operating company focused on power generation, electric transmission and energy infrastructure.
The fund also recently received a $20 million commitment from the $3.6 billion San Mateo County (Calif.) Employees’ Retirement Association.
The fund’s predecessor, LS Power Equity Partners, held a $2.075 billion final close in 2014.
Since its inception, LS Power has invested more than $36 billion to construct, acquire and operate power generation, energy infrastructure and related assets.
