Reuters: Mergers News: UPDATE 1-Pension plans launch infrastructure fund

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UPDATE 1-Pension plans launch infrastructure fund Apr 26th 2012, 20:46 Thu Apr 26, 2012 4:46pm EDT April 26 (Reuters) - One of Canada's largest pension plans teamed up on Thursday with Japan's pension funds and some of its major conglomerates to help raise $20 billion for the world's largest infrastructure fund to invest in assets such as roads and airports. Ontario Municipal Employees Retirement System (OMERS) said it had committed a total of $7.5 billion together with Japan's Pension Fund Association and a consortium led by Mitsubishi Corporation, Japan's largest trading house, toward the fund. Dubbed Global Strategic Investment Alliance (GSIA), the fund will invest in assets such as railways, ports and gas pipelines that have a value of over $2 billion each and are located primarily in North America and Europe. The initiative is led by OMERS, which administers the pensions of 420,000 public sector employees in Ontario such as police officers, fire fighters and teachers, and has over $55.1 billion in net assets under management. "Based upon the feedback in the market, we anticipate welcoming a number of other forward-thinking pension plans and other long-term institutional investors from around the world into the GSIA over the next 12 to 18 months," said Jacques Demers, strategic investments chief executive for OMERS, said in a statement. OMERS has committed $5 billion to the fund, Japan's Pension Fund Association has committed $1.25 billion, and Mitsubishi's consortium, which includes Mizuho Corporate Bank Ltd and Japan Bank for International Cooperation, has also committed $1.25 billion. Link this Share this Digg this Email Reprints

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