Hawaii Employees' Retirement System (ERS) has approved a US$20 million commitment to ISQ Global Infrastructure Fund.
The commitments are pending legal review and final due diligence.
The commitment will fall under the pension fund's opportunistic real estate allocation. The pension fund has a 7% target allocation to real estate.
ISQ Global Infrastructure Fund is focused on global infrastructure assets within the energy, utilities and transportation sectors. The fund is managed by ged by I Squared Capital. The firm has plans to raise US$3 billion for ISQ Global Infrastructure Fund. A final closing is expected to take place in April this year.
I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, and transport in North America, Europe, and select high growth economies. The Firm has offices in New York, Houston, London, New Delhi, Hong Kong and Singapore.
In February Cube Hydro Partners, LLC, a portfolio company of the ISQ Global Infrastructure Fund and its affiliated funds, acquired a 100% ownership interest in ten US run-of-the-river hydro facilities from Harbor Hydro, LLC, a portfolio company of LS Power Equity Advisors. One month before, the firm closed the acquisition of Lyonsdale Associates, LLC from Burrows Paper Corporation and affiliates.