New Mexico Educational Retirement Board approves infrastructure allocation
New Mexico Educational Retirement Board approved a new infrastructure commitment of $50 million to the ISQ Global Infrastructure Fund during its August 14 Investment Committee meeting.
I Squared Capital, a company formed in 2012 by the founder and former CIO of Morgan Stanley Infrastructure Partners, is seeking to raise $2 billion for its infrastructure fund.
Mark Canavan, head of real assets for New Mexico, said:
"This manager has an experienced infrastructure team investing in the asset class."
I Squared Capital is an independent global infrastructure investment and management platform that focuses on energy, utilities, and transport in North america, Europe, and selected high growth economies based on risk-adjusted metrics across sectors and geographies.
I Squared Capital is headquartered in New York, with investment and operating teams in London, Houston, Singapore, Hong Kong, and New Delhi.
New Mexico Educational Retirement Board has a 3.5% target allocation to infrastructure and has so far invested $130 million in the asset class.
Last month, Mitsubishi Corporation (MC) entered into a strategic partnership agreement with I Squared Capital. Through this partnership, MC and ISQ will collaborate in various areas of infrastructure investment, including deal sourcing and asset management. In addition, MC made a USD 100 million commitment to the ISQ Global Infrastructure Fund, L.P..
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