Morgan Lewis on CalPERS's APAC Infrastructure Play
U.S. pension fund California Public Employees' Retirement System is investing $764 million in an Asia Pacific infrastructure portfolio that will be managed by Australian investment company QIC Ltd.
May 25, 2015 at 04:28 AM
2 minute read
Morgan, Lewis & Bockius is advising U.S. pension fund California Public Employees' Retirement System on a partnership with Australian investment company QIC Ltd. to invest in infrastructure in Asia Pacific.
The $764 million deal marks CalPERS's first move into the infrastructure sector in the region. The pension fund currently serves 1.7 million members and has a total market value of $307 billion, including $2.1 billion worth of infrastructure assets.
QIC, which already manages $4.4 billion in infrastructure assets and $57 billion overall, will be responsible for finding and managing a portfolio of water, power, transportation and energy projects for CalPERS. According to the Australian Financial Review, more than half of the money will stay in Australia and New Zealand, while investments in Japan, South Korea and Singapore are also being targeted.
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