The board made the decision to invest in the ISQ Global Infrastructure Fund at its board meeting last Friday, according to Infrastructure Investors.
I Squared was set up by three former Morgan Stanley executives to focus on energy, utilities, and transport in North America, Europe, and other select high growth economies.
The firm’s first vehicle was launched in July last year with a target of $2bn.
New Mexico ERB has a target allocation of eight per cent to private equity and five per cent to real estate.
The LP’s new private equity commitments ran to $92.1bn in the second quarter of this year, with the allocation to the asset class being on track to be rising for the fifth year in a row.
Earlier this year the New Mexico ERB made its first commitment to US buyout giant Bain Capital by backing its eleventh flagship fund.
Copyright © 2014 AltAssets