Vision Ridge Sustainable Asset Fund III, an infrastructure fund managed by Vision Ridge Partners, has picked up another California pension fund.
IREI understands the San Mateo County Employees' Retirement Association (SamCERA) has committed $20 million to the fund, which invests in sustainably managed real assets in industry verticals, including water, agriculture, energy efficiency, renewable-power generation, land/biomass and transportation.
SamCERA joins the Alameda County Employees' Retirement Association as a recent investor in Vision Ridge Sustainable Asset Fund III.
According to the firm’s website, the predecessor fund closed in 2018 and has $670 million in commitment capital, and $100 million in co-investment capital. It is focused on real assets in areas such as electric-vehicle charging, energy efficiency and solar power.
The first fund in the series