New Mexico pension fund invests in Ardian infrastructure IV

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New Mexico pension fund invests in Ardian infrastructure IV

New Mexico Public Employees Retirement Association (PERA) has invested in Ardian infrastructure IV, the Ardian's latest European infrastructure fund.

Specifically New Mexico pension fund has approved a US$60 million commitment to the fund.

Ardian is approaching the €2 billion (US$2.25 billion) final close of Ardian infrastructure IV, which is expected to take place during 2015. The new fund follows Ardian's third infra fund which closed on €1.5 billion (US$1.68 million) plus €500 million (US$561.6 million) worth of co-investment rights.

The fund will be focused on projects in transportation, energy, telecommunications, social, renewables and water sectors. Ardian's team will invest about €400 million per deal, or more with co-investor support, with a split of 80% brownfield and 20% greenfield.

In mid February Ardian infrastructure IV reached its first close, raising about €1 billion.

This month we reported that Ascendi Group, SGPS, SA and Ardian have signed an agreement to establish a partnership to own and operate part of the motorway network managed by Ascendi in Portugal.

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