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