The Government Service Insurance System (GSIS) is investing $300m (€273m) in an emerging markets fund managed by Global Infrastructure Partners (GIP).
The Philippines government pension fund said it is investing in global infrastructure projects covering transport, energy and digitalisation by committing capital to the GIP Emerging Markets Fund.
“This partnership is in line with our continued effort to further diversify our assets and generate higher returns for the benefit of our more than two million members and pensioners,” said Wick Veloso, GSIS president and general manager and acting board chairman.
The Asian Infrastructure Investment Bank (AIIB), which previously revealed making a $150m commitment to GIP’s debut emerging market fund, said at the time that GIP Emerging Markets Fund had a $5bn fundraising target size.
AIIB disclosed that GIP Emerging Markets Fund aims to take advantage of the large number of investment opportunities in the infrastructure sector across growing middle-income emerging markets globally with a focus on China, India, Indonesia, Malaysia, the Philippines and Vietnam in Asia, and Brazil, Chile, Colombia, Mexico and Peru in Latin America.
GIP is a global independent infrastructure fund manager managing $87bn in assets on behalf of its investor base. The manager invests in power and utilities, natural resources infrastructure, air transport infrastructure, seaports, freight railroad, water distribution and treatment, and waste management.
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