Monday, 31 August 2015
Last updated 1 hour ago
Feb 7 2012 | 8:49am ET
CalSTRS has tapped the Australian investment manager Industry Funds Management to invest up to $500 million in North American and European infrastructure assets.
The California State Teachers’ Retirement System, with a portfolio with $144.8 billion, describes the mandate as “one of the largest single U.S. fund management commitments made in infrastructure.”
The mandate will be invested in two tranches: $300 million immediately, the remaining $200 million within the next 18 months. Investment targets will include regulated utilities, transport and other cash-yielding, inflation-hedged infrastructure investments.
“What the recent economic crisis demonstrated was the need for greater diversification in our investment portfolio, in areas that would also serve as a hedge against inflation,” said chairman of the CalSTRS investment committee, Harry Keiley. “This type of investment aligns our goals as patient long-term investors with both the jobs generation and infrastructure improvement our economy needs.”
Headquartered in Melbourne, Australia, with offices in New York, London and Sydney, IFM manages over US$31 billion across four asset classes—infrastructure, private equity, debt investments and listed equity portfolios. IFM invests on behalf of institutional investors and is owned by 32 major not-for-profit Australian superannuation funds.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…