Texas Municipal Retirement System has disclosed approving a $150m (€140.3m) commitment to the latest SDC Capital Partners-managed value-add digital infrastructure fund.
The pension fund said in a meeting document that it has placed the capital into the SDC Digital Infrastructure Opportunity Fund IV fund.
SDC Capital Partners announced in April that its fourth fund had closed at its hard cap of $2.1bn. SDC Capital raised $1.5bn for the previous fund in the series which closed in March 2022.
As previously reported, the latest SDC Capital fund will target value-add investments across the digital infrastructure sector, with potential opportunities in data centres, fibre networks, and wireless infrastructure.
The US-based manager, with a global reach, targets deals from $50m to over $500.
The commitment from Texas Municipal represents the first infrastructure commitment the pension fund has issued so far in 2024.
Texas Municipal has the potential to invest between $300m to $600m in infrastructure this year, according to its pacing plan.
The board meeting document also reveals a plan to invest up to $600m real estate in 2024. However, as of 30 June 2024, the pension fund has not made any commitments towards real estate investments.
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