Investors - JULY 25, 2014

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Swiss pensions form infrastructure investment club

by Drew Campbell

A group of nine Swiss pension funds has committed to forming an investment club to make infrastructure investments using an evergreen fund platform — IST 3 Infrastructure Global. The vehicle launched in May 2014 and held a first close at the end of June with €245 million ($332 million) in commitments from the pensions of nine Swiss firms.

The nine pensions that comprise the club include the pensions of Swiss firms Luzerner Pensionskasse, Migros-Pensionskasse, PKE Pensionskasse Energie, PK Manor and PK Roche. The other pensions have yet to publicly announce their participation.

“These investors felt that the market did not offer what they were looking for — strategy-wise, structure-wise, cost-wise, etc.,” says Barbara Weber, founder and head of Swiss consultant B Capital Partners and member of the investment club’s investment committee. “This is why the idea was discussed internally to set up their own platform.&rdq

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