CalPERS to award US$1bn investment to GIP
The California Public Employees Retirement System (CalPERS) is set to award the US$1 billion investment to Global Infrastructure Partners as it ventures to more exposures in infrastructure projects.
The US$365 pension fund will seek approval from its board next week for the mandate, as well as a $500m commitment to the JP Morgan Infrastructure Investments Fund. The commitments would represent up to a third of the value of the CalPERS’s existing infrastructure portfolio, which was valued at US$4.3bn in September 2018.
CalPERS is an agency in the California executive branch that manages pension and health benefits for more than 1.6 million California public employees, retirees, and their dependents.
Country updates
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