Institutional Investing in Infrastructure
February 2012: Vol. 5, Number 2
Worth a Second Look: Secondary Transactions Provide Infrastructure Investors with Options
Talk of infrastructure secondaries might seem premature given the relatively short history of private infrastructure as an independent investment class. The secondaries market for traditional private equity took decades to mature, but it now functions as a working market providing liquidity to fund investors. Immature as it is, the development of a secondaries market for infrastructure is a key piece in the development of the sector and is worthy of an infrastructure investor’s attention.
The Money Talks, Part III: Labor, Unions and Infrastructure Investing
The I3 Editorial Advisory Board meeting is a forum for investors, consultants, investment managers and guests to communicate their expectations, challenges and concerns with respect to infrastructure investing. The process helps these groups communicate and work together to achieve their goals and objectives, providing a platform to share experiences as well as help drive the editorial content for the I3 publication. The board meeting includes eight hours of discussions, quick tally votes on topics of interest and opportunities to build stronger relationships. This is the third part of a review of the board meeting discussions that took place Nov. 9–10, 2011, in Chicago.
Shop Talk: A Conversation with Erin Hutson
Erin Hutson is manager of investment relations with the Laborers’ International Union of North America (LIUNA), a labor union affiliated with more than 80 multi-employer pension funds across the United States and Canada. LIUNA’s pension funds have an estimated $32 billion in assets, $650 million (about 2 percent) of which are invested in infrastructure. I3 contributing editor Tyson Freeman spoke with Hutson about LIUNA, labor and infrastructure investing.
CalSTRS Commits $500 Million to IFM for Infrastructure Investment
The $145 billion California State Teachers’ Retirement System
(CalSTRS) has made an initial commitment of $300 million to an open-end infrastructure fund sponsored by Industry Funds Management (IFM) that targets core assets across a range of sectors in North America and Europe.
- China's SWF Makes U.K. Buy
El Paso Pension Fund Plans Infrastructure Commitment
The $935 million El Paso Firemen & Policemen’s Pension Fund plans to allocate $2.5 million each to Riverside Fund V and Global Infrastructure Partners II, according to the minutes of a January 2012 board meeting.
- First State Reaches €673 Million in Commitments
U.K. Pension Fund Allocates to Two Infrastructure Funds
The Leicestershire County Council Pension Fund, a U.K. pension fund, has allocated £70 million ($111 million) to two global infrastructure funds managed by Kohlberg Kravis Roberts and Industry Funds Management.