​Louisiana Teachers backs Asterion’s latest Europe infrastructure fund

Teachers’ Retirement System of Louisiana (TRSL) has approved a $50m (€46.4m) commitment to a fund managed by European mid-market infrastructure manager Asterion Industrial Partners.

The pension fund disclosed in a meeting document that it has placed the capital into the Asterion Industrial Infra Fund III fund.

Asterion seeks to raise €3.2bn for its latest fund, following a €1.8bn raise for the previous fund in the series. 

Fund III will target core-plus investments in the mobility, energy, utilities, and telecommunication sectors. Up to 50% of the fund’s capital can be allocated to any one of these sectors at the Asterion’s discretion.

The manager expects to make a total of 12 to 14 investments with individual equity investments ranging from €150m to €300m, and hold each asset in the fund for about seven years.

TRSL has also made a $15m commitment to the Quantum Energy Partners VIII fund. This marks the second time the pension fund has approved an investment in the Quantum Energy Partners-managed fund, adding to its previous $35m commitment. 

Quantum Energy expects 50-60% of the fund’s capital to be allocated to upstream oil and gas, 20-30% to energy transition and decarbonisation initiatives, and roughly 20% invested in associated infrastructure. 

Partners VIII expects 12-16 investments, with individual equity commitments ranging from $200m to $500m.

To read the latest IPE Real Assets magazine click here.