In brief: PSERS backs Brookfield transition vehicle

The Public School Employees’ Retirement Board of Pennsylvania has committed $300 million to the Brookfield Global Transition Fund, the pension said.

PSERS joins the likes of the New Jersey State Investment Council and Canadian pension funds including Ontario Teachers’ Pension Plan, PSP Investments and the Investment Management Corporation of Ontario, as well as Singapore’s state-backed investor Temasek, in backing the vehicle.

Brookfield, which announced a first close of $7 billion for the fund in July, could raise up to $12.5 billion including GP commitment.

• Further reading: PSERS’s investment memo on the fund