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.
The relationships with Harbert and QIC started in 2013 and 2015 respectively, and CalPERS has since been topping up its investments.
CalPERS declined a request for further comment. QIC declined a request for comment.
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