Seattle City Employees’ Retirement System committed up to $15 million to Brookfield Infrastructure Fund III, managed by Brookfield Asset Management, said Jason Malinowski, chief investment officer, in an e-mail.
It is the $2 billion pension fund’s second overall commitment to infrastructure after an RFP was issued last May for infrastructure managers following the creation of a new 3% target to the asset class.
At the time, the pension fund said it planned to make a total of $50 million to $70 million in commitments. The pension fund committed $8 million to Stonepeak Infrastructure Partners II in December. Mr. Malinowski said there will be further commitments over time.