Argo Infrastructure Partners, an investment manager that has attracted investment from California pension fund CalSTRS, is buying a 49.9 percent equity interest in a company owning a natural gas-fired power plant in Pueblo, Colorado, it said on Friday.
The investment into a subsidiary of South Dakota-based Black Hills Corp (BKH.N) was made through Argo’s infrastructure investment platform AIA Energy North America.
Argo was started last year by JPMorgan Chase & Co‘s former OECD Infrastructure Investment Fund Chief Investment Officer Jason Zibarras. Argo secured $500 million of commitments from investors including CalSTRS, the California State Teachers’ Retirement System, when it formed.
The fund has now committed or invested more than half its capital.
(Reporting by Megan Davies; Editing by Frances Kerry)