Top 100 Global Infrastructure Investors

September/October 2017 (Magazine)

IPE Real Assets’ top 100 ranking of some of the world’s largest infrastructure investors has captured more than $360bn in infrastructure assets held by pension funds, sovereign wealth funds, insurers and other institutional capital owners. It was based on IPE Research survey data, Rainmaker Information and publicly available information, predominantly in the form of annual reports. Where accurate numbers were not available, estimates have been made. Some investors have not been included due to a lack of information.

Sources: IPE Research, Rainmaker Information
	Investor	Country	Infrastructure assets ($‘000s)	Total assets ($‘000s)
1	China Investment Corporation	China	40,676,000	813,513,000
2	Abu Dhabi Investment Authority	UAE	24,840,000	828,000,000
3	Canada Pension Plan Investment Board	Canada	18,234,800	237,802,000
4	National Pension Service	South Korea	16,020,200	498,004,000
5	Ontario Teachers’ Pension Plan	Canada	13,215,000	130,368,000
6	OMERS	Canada	13,024,900	79,825,700
7	APG	Netherlands	12,850,500	514,021,000
8	Legal & General	UK	12,301,600	575,535,000
9	CDPQ	Canada	10,913,500	154,199,000
10	AustralianSuper	Australia	8,617,230	81,245,200
11	PSP Investments	Canada	8,329,460	101,754,000
12	bcIMC	Canada	8,254,420	101,679,000
13	Future Fund	Australia	8,209,820	102,265,000
14	PGGM	Netherlands	7,901,700	216,823,000
15	China Life	China	7,703,250	352,445,000
16	Teacher Retirement System of Texas	US	7,646,282	152,925,647
17	Unisuper	Australia	7,335,670	42,881,100
18	Allianz	Germany	6,959,670	741,605,000
19	PKA	Denmark	6,290,100	37,894,000
20	USS	UK	4,981,360	78,381,800
21	Manulife	Canada	4,974,170	238,983,000
22	Aviva	UK	4,920,640	24,226,800
23	Qsuper	Australia	4,430,520	50,836,300
24	AIMCo	Canada	3,951,860	46,781,600
25	AXA	France	3,920,300	777,141,000
26	First State Superannuation Scheme	Australia	3,718,850	43,590,700
27	CalPERS	US	3,690,000	322,202,000
28	TIAA	US	3,279,000	282,400,000
29	PensionDanmark	Denmark	3,136,610	31,681,300
30	Bayerische Versorgungskammer	Germany	3,080,510	91,730,800
31	HESTA	Australia	3,046,320	28,879,100
32	CBUS	Australia	2,958,270	29,500,900
33	Ping An	China	2,734,100	283,742,000
34	Industriens Pension	Denmark	2,638,770	24,055,800
35	British Steel Pension Fund	UK	2,464,050	19,064,000
36	MEAG Munich ERGO	Germany	2,317,830	292,890,000
37	State Super	Australia	2,265,920	29,955,100
38	Hostplus	Australia	2,044,410	19,149,000
39	Ärzteversorgung Westfalen-Lippe	Germany	1,988,360	13,197,700
40	Sunsuper Superannuation Fund	Australia	1,974,380	30,243,400
41	Lloyds Banking Group Pension	UK	1,959,570	54,333,700
42	ATP	Denmark	1,837,140	108,696,000
43	CalSTRS	US	1,800,000	210,000,000
44	Alaska Permanent Fund Corporation	US	1,760,710	55,346,898
45	Local Pensions Partnership	UK	1,690,220	16,252,100
46	Washington State Investment Board	US	1,570,000	96,950,000
47	OPSEU	Canada	1,533,080	14,849,700
48	REST Industry Super	Australia	1,436,790	35,582,500
49	CFS FirstChoice Superannuation Trust	Australia	1,430,720	47,888,100
50	New York Common Retirement Fund	US	1,400,000	192,000,000
51	Alberta Heritage Savings Trust Fund	Canada	1,275,680	10,868,100
52	Railway Pension Scheme	UK	1,269,870	35,015,500
53	BBC Pension Scheme	UK	1,245,340	19,551,800
54	Oregon PERF	US	1,100,000	73,000,000
55	MainePERS	US	1,058,600	13,400,000
56	PGB	Netherlands	1,051,210	27,917,800
57	AP1	Sweden	1,036,350	34,408,800
58	Workers’ Compensation Board Alberta	Canada	1,004,180	7,411,040
59	MTAA Superannuation Fund	Australia	984,443	7,429,150
60	Pennsylvania PSERS	US	951,800	52,700,000
61	Ontario Pension Board	Canada	919,598	24,470,669
62	Ontario Power Generation	Canada	894,608	10,017,400
63	AP3	Sweden	883,936	38,580,500
64	Lothian Pension Fund	UK	855,227	8,180,330
65	Victorian Superannuation Fund	Australia	842,981	13,171,700
66	State of Michigan Retirement System	US	755,000	65,600,000
67	Alberta Teachers’ Retirement Fund	Canada	752,804	10,301,600
68	Commonwealth Superannuation Corp	Australia	738,079	28,871,900
69	WorkSafeBC	Canada	727,654	11,152,100
70	Nova Scotia Health Employees’ Pension Plan	Canada	701,559	5,305,470
71	Texas Permanent School Fund	US	662,700	7,123,000
72	Alaska Retirement Management Board	US	653,840	31,301,420
73	DIP/JØP	Denmark	642,026	17,722,700
74	TfL Pension Fund	UK	620,428	12,288,800
75	BT Pension Scheme	UK	620,325	66,351,800
76	AMF	Sweden	615,337	58,236,400
77	Local Authorities Superannuation Fund	Australia	613,526	5,626,240
78	Greater Manchester Pension Fund	UK	607,900	26,489,700
79	Canadian National Railway Company	Canada	597,642	13,238,000
80	Care Super	Australia	588,120	9,104,160
81	Government Pension Investment Fund	Japan	584,466	1,127,190,000
82	CAAT Pension Plan	Canada	577,104	7,431,200
83	Virgina Retirement Systems	US	574,413	22,039,266
84	Pension Protection Fund	UK	571,487	58,646,500
85	PMT	Netherlands	570,465	76,898,700
86	Nationwide Building Society	UK	562,786	6,768,410
87	Telstra Super	Australia	549,416	15,018,900
88	PFA Pension	Denmark	542,401	89,343,700
89	Texas ERS	US	538,000	26,900,000
90	New Zealand Superannuation Fund	New Zealand	533,416	21,350,800
91	Local Government Super	Australia	524,936	7,089,530
92	Florida State Board of Administration	US	522,900	155,500,000
93	Ilmarinen	Finland	513,419	44,154,000
94	Mercer Super Trust	Australia	511,367	13,908,800
95	West Midlands Pension Fund	UK	510,589	17,698,800
96	Strathclyde Pension Fund	UK	503,117	24,532,000
97	Swiss RE	Switzerland	486,000	215,065,000
98	Varma	Finland	469,888	45,437,100
99	BT Retirement Wrap	Australia	461,190	39,489,200
100	MP Pension	Denmark	447,208	16,794,500