CalPERS, QIC agree $764m Asia infrastructure partnership

QIC will manage the venture, which will seek high-quality infrastructure assets in sectors including water, power, transportation and energy. In a release, QIC said the two firms had been working on the partnership for several years.

It represents the first commitment in the Asia-Pacific region for CalPERS' infrastructure program, which currently has $2.1 billion in assets. The system manages one of the largest public pension funds in the US, with about $300 billion in assets.

QIC is highly involved in the infrastructure sector, having reached a first close of $528 million earlier this year in its Global Infrastructure Fund. Recent investments include a A$2.9 billion commitment to Sydney's NorthConnex tunnel project in February, for which it teamed up with the Canada Pension Plan Investment Board (CPPIB) and toll road operator Transurban Group.

The firm, headquartered in Brisbane and owned by the Queensland govenment, is one of Australia's largest institutional investment managers. It currently has A$72.9 billion in funds under management, with about 90 clients worldwide and offices in Sydney, New York, San Francisco, Los Angeles and London.

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• Topics
• Australasia
• Infrastructure
• Infrastructure
• Fundraising
• Australia
• Asia
• Infrastructure
• QIC
• California Public Employees' Retirement System (CalPERS)
• Fundraising