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Washington state to invest $1b in infrastructure

by Zoë Wolff

The $106.8 billion Washington State Investment Board is considering investing $1 billion with Global Infrastructure Partners, according to a spokesperson for the pension fund.

The pension fund is looking to invest $500 million each in GIP’s third fund and in a separate account with the company. Global Infrastructure Partners III is seeking to raise up to $15 billion, according to Bloomberg, which would make it the largest infrastructure fund ever raised.

The pension fund committed $250 million to Global Infrastructure Partners II in 2012. GIP II is currently the largest infrastructure fund ever raised, having closed with $8.25 billion in equity commitments in 2012.

The investments were discussed at the pension fund’s private markets committee meeting on Nov. 5; approval is expected at the full board meeting on Nov. 19.

 

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