The pension has investments in its pipeline that could bring its total commitments to the asset class to $1bn or more by early 2010. CalPERS has already invested $700m to the asset class.
Joe Lyons, Matthew McPhee and Whit Porter, founding principals of Macadam Asset Management, are leading the Boston-based group, which will offer institutional investors fund of fund, co-investment and secondary investment strategies.
Mark Wiseman has been promoted to a newly-created position of executive vice president at the Canadian pension, in charge of real estate, private and public investments. He was previously a senior vice president responsible for private equity and infrastructure investments in the CPPIB portfolio.
The fund has $107m of initial funding and, in exchange for the payment of premiums, will protect investors against unfavourable policy decisions affecting PPP projects.
The Australian financial services firm now owns 38% of the Challenger Infrastructure Fund, whose portfolio company Inexus recently won a contract to provide utility services to London’s King’s Cross Central development.
The Dallas Police and Fire Pension System’s successful partnership with Cintra on the $2bn North Tarrant Expressway project set a precedent for LPs’ direct infrastructure investment in the US market. Could it be the start of a new trend?
The Australian investment bank now has a dedicated group of managers for its principal investments in North America, as opposed to having investment bankers who originated the investments manage the assets.
Macquarie International Infrastructure fund has netted just over $50m from the stake sale. Its portfolio is now mostly made up of direct investments in Asia.
The firm has now raised a total of $350m so far from domestic investors for India Advantage Fund Series III.
Industry participants are raising red flags over the pension giant's decision to sponsor legislation that would require placement agents to register as lobbyists and ban success fees.