Connect with us

CalSTRS Announces California Infrastructure Investments

Published

on

According to the press release, “The California State Teachers’ Retirement System (CalSTRS) today announced the expansion of its infrastructure program that includes a $42.8 million commitment to four California investments. Two of the investments are construction projects.

The California investments are:

  • The construction of a portion of the Presidio Parkway transportation project in San Francisco.
  • The reconstruction of the Long Beach courthouse in Los Angeles County.
  • The operation of the gas-fired Crockett power plant near Oakland.
  • The operation of the solar-electric Sun-Edison plant in the Sacramento area.

“These investments reflect CalSTRS’ commitment to the California economy and our willingness to contribute to it in a way that helps our state and offers the fund long-term, steady cash flows. The construction projects, in particular, will put more than 600 Californians to work,” said Chairman of the CalSTRS Investment Committee Harry Keiley. “We will continue to actively seek out greater investment opportunities in California infrastructure that meet our program objectives.”

The CalSTRS approach is to invest in long-term assets that hedge inflation and generate steady cash flows from high operating margins. CalSTRS is investing in funds initially, but eventually seeks to become involved more with co-investments and direct investments.

“California has a vibrant bond market that serves as an excellent vehicle for infrastructure investment,” Keiley added. “We’re looking for those opportunities that require capital beyond municipal bond debt. We believe they’re out there and we intend to invest in them to the benefit of our state and our members.”

The CalSTRS Investment Committee established the infrastructure portfolio in 2010. As of today, CalSTRS has committed $750 million to infrastructure assets. The most recent commitment is $100 million to the Meridiam Infrastructure North America Fund II, which closed in July 2012. In late 2011, CalSTRS partnered with Industry Funds Management on a two-part, $500 million global funds commitment. CalSTRS’ first infrastructure commitment was $150 million to the First Reserve Energy Infrastructure Fund in April 2011.”

Read more: CalSTRS Press Release

NZ Super Names Three New Board Members

Published

on

New appointments have been made to the Board of the Guardians of New Zealand Superannuation Fund (NZ Super). The appointments were made on July 19, 2018. The three new board members are Catherine Drayton, Simon Botherway and Henk Berkman.

According to the NZ Super press release, “Simon Botherway’s appointment runs from 1 August 2018 to 30 September 2021. He is a professional director with a history in investment, investment regulation and supervision. Other board roles have included his current position as Chair of Serko, a director on Callaghan Innovation and previously being the Chair of the FMA Establishment Board and a member of the Securities Commission.

Henk Berkman will serve from 1 October 2018 to 30 September 2022. He has been Professor of Finance, Department of Accounting and Finance at the University of Auckland since 2008. Mr Berkman has held previous professorial positions at Massey University, University of Sydney and the University of Maastricht.

Catherine Drayton will serve from 1 November 2018 until 30 September 2022. She is a Christchurch-based director who previously led the Assurance and Advisory Practice for PwC in Central Eastern Europe. Her public sector governance experience includes her current role as Chair of Christchurch International Airport and as a member of the University of Canterbury Council. Her experience as a Director of Ngai Tahu Holdings has provided her with iwi governance experience.”

Continue Reading

AIMCo Names Former Talisman Energy Executive to Board

Published

on

The Alberta Investment Management Corporation (AIMCo) appointed Jacqueline (Jackie) Sheppard as a member of the board of directors for a term set to expire on June 30, 2021. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Grant & Eisenhofer Reveals Fortis Investors to Receive $1.5 Billion in Mega Settlement

Published

on

Law firm Grant & Eisenhofer won a landmark case for its clients after a seven-year legal duel in Dutch courts. On July 13, 2018, the Amsterdam Court of Appeals officially approved the largest securities settlement ever reached in Europe, paving a path for international insurance company Ageas N.V./S.A. to begin payment of US$ 1.5 billion (€1.3 billion) to multiple groups of institutional and individual investors from Europe and the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.