Friday, 19 September 2014
Last updated 8 hours 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.