The National Pensions Reserve Fund (NPRF) in Ireland has committed €250 million ($336 million) to a newly formed Irish infrastructure investment fund called the Irish Infrastructure Trust.

The new fund was established by Irish Life Investment Managers (ILIM), which will seek up to €1 billion ($1.3 billion) from institutional investors in Ireland and overseas. AMP Capital will manage the new infrastructure fund. It already has commitments of €300 million from institutional funds, including the €250 million from the NPRF.

The NPRF’s commitment forms part of its development of a Strategic Investment Portfolio, where it can channel its resources to commercial investment in the Irish economy alongside matching investment from third-party private inves