Pennsylvania SERS approves $250m commitment

The US public pension fund has approved a commitment to CIM Infrastructure's latest infrastructure vehicle.

Institution: Pennsylvania Public School Employees’ Retirement System
Headquarters: Harrisburg, US
AUM: $72.5 billion
Allocation to alternatives: 33.2%

Pennsylvania Public School Employees’ Retirement System has allocated a $250 million commitment to CIM Infrastructure Fund III, according to March investment committee meeting notes.

Launched in June 2021, CIM Infrastructure III is a North American unlisted equity vehicle targeting energy, renewables, transport, telecoms and utility sectors. Infrastructure Investor understands the fund has a target size of $1.25 billion. This commitment alone accounts for one-fifth of the target size of the fund.

The $72.4 billion US public pension has a target allocation of 4 percent for infrastructure, which currently stands at 0.9 percent. As illustrated below, PSERS’ recent fund commitment have predominantly targeted global transport, energy and renewables-focused funds.

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