The California Public Employees’ Retirement System (CalPERS) has inked a $1bn Asia-Pacific infrastructure partnership with Australia-based QIC, an Australia-based alternatives investment firm and institutional investment manager.
The partnership will operate through a vehicle created specifically for this investment arrangement, and will look to invest in high-quality infrastructure assets across sectors, including water, power, transportation, and energy.
The partnership represents CalPERS’ first Asia-Pacific infrastructure commitment and the continued expansion of its Infrastructure program.
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"This is a great opportunity to expand our infrastructure portfolio and to enter the Asia-Pacific market," said Paul Mouchakkaa, CalPERS Senior Investment Officer for Real Assets, which includes the Infrastructure program. "QIC has a proven track record of success and is an excellent fit for our program. We look forward to working with them."
Under the terms of the arrangement QIC will source, structure, and manage the portfolio of assets. The partnership will be funded in Australian denominated dollars (A$1bn).
CalPERS currently has $2.1bn in assets in its Infrastructure program.
QIC has approximately A$72.9bn in funds under management. QIC has around 90 clients including governments, pension plans, and sovereign wealth funds, and spanning Australia, the United States, Europe, Asia, and the Middle East. QIC is headquartered in Brisbane, Australia, and has offices in New York, San Francisco, Los Angeles, and London.
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By GlobalDataFor more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.7 million members in the CalPERS retirement system and administers benefits for 1.4 million members and their families in our health program. CalPERS’ total fund market value currently stands at approximately $307 billion.
