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Firms aid Asia Pacific infrastructure investment
A handful of firms have helped bring about the first Asia Pacific infrastructure commitment by the largest public pension plan in the US.
Felicity Nelson
Firms: Minter Ellison and Morgan Lewis & Bockius LLP (CalPERS); Clayton Utz and Stroock & Stroock & Lavan LLP (QIC)
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Deal: CalPERS Asia Pacific Infrastructure Partnership with QIC
Value: A$1 billion
Area: Energy and resources, infrastructure, funds management
Key players: The lead partner from Minter Ellison was Sam MacGibbon (pictured), who was assisted by Karen Payne (tax) and Stuart Johnson (financial institutions).
Deal significance:
The largest public pension plan in the US, California Public Employees' Retirement System (CalPERS), has entered into a partnership with QIC to invest A$1 billion in Asia Pacific infrastructure.
The partnership will operate through a vehicle created specifically for this investment arrangement and will seek to invest in high-quality infrastructure assets in sectors such as water, power, transportation and energy.
The partnership represents CalPERS' first Asia Pacific infrastructure commitment and the continued expansion of its infrastructure program.
"Australia – and Asia Pacific more broadly – is one of the most attractive infrastructure markets in the world, and the partnership between CalPERS and QIC indicates the high level of interest by international pension funds in both existing and greenfield infrastructure assets in this region,” Mr MacGibbon said.
