The $285 billion California Public Employees' Retirement System (CalPERS) has made $1.5 billion in capital commitments to two infrastructure vehicles.
The pension fund invested $1 billion in the GIP Strategic Alliance SMA I, a core-focused global separate account, managed by Global Infrastructure Partners.
Additionally, CalPERS committed $500 million to the JPMorgan Infrastructure Investments Fund, managed by J.P. Morgan Asset Management Global Real Assets. Launched in 2005, the core-plus/value-add fund targets utility projects, airports, communications networks, shipping ports, and toll roads.