The Contra Costa County Employees’ Retirement Association (CCCERA) is investing $245 million (€228 million) in value-add infrastructure and opportunistic real estate, according to board meeting documents.
Pension funds contributed $125 million. EQT Infrastructure Fund VIa vehicle for global investment in digital, energy/environment, transportation, logistics and social infrastructure.
EQT announced this week that the foundation has agreed to acquire a majority stake in Heritage Environmental Services (HES) from Heritage Group.
EQT aims to raise $20 billion for this fund. Two other companies that recently invested in the fund are the Teachers Retirement System of Texas, which invested $175 million, and the Montana Investment Board, which invested $50 million, according to CCCERA.
CCCERA also invested $60 million in KSL Capital Partners Fund VI, a fund targeting opportunistic investments in hospitality and leisure real estate. KSL Capital Partners is seeking $3 billion for the fund.
The pension fund has committed the same amount to the Ares US Real Estate Opportunity Fund IV, which aims to raise $3 billion through industrial, multifamily, triple-net leases and structured preferred stock. We plan to invest in relief capital.
The Pennsylvania State Employees Retirement System also approved a $100 million contribution to the fund, CCCERA said.