California Public Employees’ Retirement System (CalPERS) has approved $1.5bn (€1.3bn) worth of new infrastructure commitments into an Asia-Pacific partnership with Australian fund manager QIC and a North America partnership with Harbert Management Corporation.
The pension fund said in a meeting document that it has placed $1bn into the $1.2bn Golden Reef Infrastructure Trust separate account relationship with QIC and $500m into Gulf Pacific Power, a $1.5bn partnership with Harbert which invests in North American power assets.
CalPERS declined a request for further comment. QIC declined a request for comment.
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