The $36.7 billion Alaska Permanent Fund Corp. increased its target allocation to infrastructure to 4 percent from 3 percent at its annual meeting Sept. 29-30.
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Nine members of the Association of Southeast Asian Nations (ASEAN) and The Asian Development Bank (ADB) have committed an initial equity investment of $485 million to create a fund to finance major infrastructure projects across the region.
The $227 billion California Public Employees’ Retirement System (CalPERS) has allocated up to $800 million to investments in California infrastructure over the next three years.
The C$152 billion ($144 billion) Caisse de dépôt et placement du Québec has increased its stake in gas infrastructure company Fluxys G from 10 percent to 20 percent with an investment of €210 million ($279 million).
The $59.6 billion Oregon Public Employees Retirement Fund (OPERF), through its Oregon Investment Council (OIC), has hired infrastructure manager Global Infrastructure Partners II (GIP II), to manage a $150 million commitment.
The market for natural gas has changed fundamentally in recent years. The geographical shift in natural gas production and massive new gas discoveries are creating significant demand for new infrastructure, including power generation assets to midstream pipeline and storage infrastructure. Investors say this is a unique time to invest and the opportunity is expected to last for years.
The state of infrastructure in many countries is troubling, and few countries — from emerging to developed — are completely on track to deliver what most industry watchers believe is necessary to upgrade, let alone improve upon, their infrastructure. A recent survey of U.K. firms about the state of domestic infrastructure, Making the Right Connections: CBI/KPMG Infrastructure Survey 2011, illustrates the concern being raised in the United Kingdom, a country that has rated well with regard to infrastructure delivery in the past. Institutional Investing in Infrastructure assistant editor Tyson Freeman recently discussed the survey results with Jessica Bauly, head of infrastructure of the Confederation of British Industry (CBI), one of the United Kingdom’s largest business organizations.