Indiana Public Retirement System (PRS) has committed $140m (€122.5m) to infrastructure strategies managed by Basalt Infrastructure Partners and HIG Capital.
The pension fund disclosed in a board meeting document that it has allocated $125m to Basalt Infrastructure Fund V.
Basalt is raising capital for the global mid-market fund, which has a target of $3bn and a $3.5bn hard cap.
Indiana PRS joins other recent institutional backers, including the New York City Employees Retirement System, which committed $166.7m to the Basalt fund.
Indiana PRS also committed $15m to the HIG Infra Co-Invest vehicle, which will invest alongside the HIG Infrastructure Fund.
HIG Capital closed the mid-market infrastructure fund at $1.3bn in June 2024 to target assets across Europe and North America, focusing on sectors including transportation and logistics, technology and media healthcare, and industrials.
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