Investors - DECEMBER 19, 2016

Oregon PERF considers €200m commitment to infrastructure fund

by Jody Barhanovich

The $68.5 billion Oregon Public Employees Retirement Fund is considering a €200 million ($209 million) commitment to EQT Infrastructure III, according to a board-meeting document.

EQT Infrastructure III, managed by EQT Partners, is a closed-end fund that invests in European infrastructure. The fund is seeking €2.9 billion ($3.0 billion) of capital commitments with a €4.0 billion ($4.2 billion) hard cap.

EQT Infrastructure III is a continuation of the investment strategy from its predecessors, EQT Infrastructure I, which raised €1.2 billion ($1.3 billion) in 2008, and EQT Infrastructure II, which raised €1.9 billion ($2.0 billion) in 2013. 

In addition, OPERF has approved the commitment of up to $300 million to JP Morgan Asset Management – Global Real Assets’ JPMCB Strategic Property Fund. The pension fund had been considering the commitment earlier this month.

The core, open-end JPMCB Strategic Property Fund invests in office, industrial, multifamily and retail properties throughout the United States. The commitment would represent a new relationship between with J.P. Morgan Asset Management and Oregon PERF.

Recent investors in the JPMCB Strategic Property Fund include the California State Teachers’ Retirement SystemNew York State Common Retirement FundNew York State Teachers’ Retirement System and San Antonio Fire & Police Pension Fund.

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