CalSTRS To Invest $500M In Infrastructure Assets

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. 


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