QIC has teamed up with California Public Employees’ Retirement System for a $764 million Asia-Pacific infrastructure partnership. According to terms of the agreement, QIC will source, create and manage a portfolio of Asia-Pacific infrastructure assets for the partnership.
NEW YORK, May 20, 2015 /PRNewswire/ — QIC, a global diversified alternatives investment firm offering infrastructure, real estate, private equity, liquid strategies and multi-asset investments, and one of Australia’s largest institutional investment managers, today announced that it had formed a US$764 million (A$1 billion) Asia-Pacific infrastructure partnership with the California Public Employees’ Retirement System (“CalPERS”), one of the largest public pension funds in the United States.
The partnership represents CalPERS’ first Asia-Pacific infrastructure commitment and adds another of the world’s largest pension funds to QIC’s infrastructure client base. Under the terms of the arrangement, QIC will source, create and manage a portfolio of Asia-Pacific infrastructure assets for the partnership.
Ross Israel, Head of QIC’s Global Infrastructure said: “We are very pleased to have entered into this partnership with a pension fund of CalPERS’ stature and for an investment mandate of this scale. CalPERS has been at the forefront of investment on many dimensions. This commitment to QIC and the Asia-Pacific infrastructure region is a validation of our infrastructure capabilities and the opportunity set to deploy capital across the core infrastructure sectors of transport, energy/utilities and PPPs.
“This partnership, in combination with the launch earlier this year of the QIC Global Infrastructure Fund (“QGIF”) and other separately managed account clients, increases the size, scope and level of control QIC can bring to future infrastructure opportunities for the benefit of all our clients.”
“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.”
QIC is one of the largest institutional investment managers in Australia, with A$72.9 billion (US$55.7 billion)1 in funds under management. QIC has around 90 clients including governments, pension plans, sovereign wealth funds and insurers, spanning Australia, Europe, Asia, Middle East and the US. Headquartered in Brisbane, Australia, QIC also has offices in Sydney, New York, San Francisco, Los Angeles and London. For more information, please visit: www.qic.com.
About QIC’s Global Infrastructure Business:
QIC is a long-term infrastructure investor with an established global platform. We currently manage over A$5.8 billion (US$4.4 billion)2 across 10 global direct investments spanning transport, energy/utilities and public-private partnership assets and have realised a further US$5.1 billion3 of investments for our clients. Our infrastructure portfolio has protected clients’ capital while delivering strong total returns over its full history.
For 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 US$300 billion. For more information, visit www.calpers.ca.gov.