The $154.4 billion New York City Retirement Systems has committed $350 million to Global Infrastructure Partners III.
The fund, managed by Global Infrastructure Partners, will invest in large-scale infrastructure assets globally. The fund is seeking to raise up to $15 billion and has received commitments from the Maine Public Employees Retirement System, the Arkansas Teacher Retirement System, the Washington State Investment Board and the El Paso Firemen & Policemen Pension Fund. GIP II, the fund’s predecessor, held a final close of $8.25 billion in September 2012.
This is the pension fund’s first commitment to a Global Infrastructure Partners fund. The pension fund has a 4.7 percent allocation to real assets.