Pennsylvania Public School Employee's Retirement System (PennPSER) has agreed to commit US$ 400 million to ISQ Infrastructure Fund III, a fund managed by I Squared Capital. The fund has a target amount to raise US$ 12 billion. PennPSER has committed the investment after a recommendation from Hamilton Lane.

The fund will invest mostly in OCED countries in the sectors of energy, transportation, utilities, and telecommunication while a third of the fund will be invested in non-OCED countries. The fund was expected to achieve the first close in July 2020, the second close in September 2020, and the final close within 18 months of first close. I Squared will commit at least 2% if the total to invest in or alongside the fund.