CalPERS And QIC Announce US$764 Million (A$1 Billion) Asia-Pacific Infrastructure Partnership

NEW YORK, May 20, 2015 /PRNewswire/ -- QIC, a global diversified alternatives investment firm offering infrastructure, real estate, private equity, liquid strategies and multi-asset investments, and one of Australia's largest institutional investment managers, today announced that it had formed a US$764 million (A$1 billion) Asia-Pacific infrastructure partnership with the California Public Employees' Retirement System ("CalPERS"), one of the largest public pension funds in the United States.

The partnership represents CalPERS' first Asia-Pacific infrastructure commitment and adds another of the world's largest pension funds to QIC's infrastructure client base. Under the terms of the arrangement, QIC will source, create and manage a portfolio of Asia-Pacific infrastructure assets for the partnership. 

Ross Israel, Head of QIC's Global Infrastructure said: "We are very pleased to have entered into this partnership with a pension fund of CalPERS' stature and for an investment mandate of this scale. CalPERS has been at the forefront of investment on many dimensions. This commitment to QIC and the Asia-Pacific infrastructure region is a validation of our infrastructure capabilities and the opportunity set to deploy capital across the core infrastructure sectors of transport, energy/utilities and PPPs.

"This milestone is the culmination of a dialogue over a number of years between QIC and CalPERS to explore a partnership approach to investing in infrastructure.

"This partnership, in combination with the launch earlier this year of the QIC Global Infrastructure Fund ("QGIF") and other separately managed account clients, increases the size, scope and level of control QIC can bring to future infrastructure opportunities for the benefit of all our clients."

"This is a great opportunity to expand our infrastructure portfolio and to enter the Asia-Pacific market," said Paul Mouchakkaa, CalPERS Senior Investment Officer for Real Assets, which includes the Infrastructure program. "QIC has a proven track record of success and is an excellent fit for our program. We look forward to working with them."

About QIC:

QIC is one of the largest institutional investment managers in Australia, with A$72.9 billion (US$55.7 billion)¹ in funds under management. QIC has around 90 clients including governments, pension plans, sovereign wealth funds and insurers, spanning Australia, Europe, Asia, Middle East and the US. Headquartered in Brisbane, Australia, QIC also has offices in Sydney, New York, San Francisco, Los Angeles and London. For more information, please visit: www.qic.com.

About QIC's Global Infrastructure Business:

QIC is a long-term infrastructure investor with an established global platform. We currently manage over A$5.8 billion (US$4.4 billion)² across 10 global direct investments spanning transport, energy/utilities and public-private partnership assets and have realised a further US$5.1 billion³ of investments for our clients.  Our infrastructure portfolio has protected clients' capital while delivering strong total returns over its full history.

About CalPERS:

For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.7 million members in the CalPERS retirement system and administers benefits for 1.4 million members and their families in our health program. CalPERS' total fund market value currently stands at approximately US$300 billion. For more information, visit www.calpers.ca.gov.

About the QIC Global Infrastructure Fund:

The Fund is intended for offer to substantial institutional and professional investors ("Accredited Investors" as defined in Regulation D of the Securities Act or "Qualified Purchasers" for Investment Company Act purposes).  The Fund's investment minimum is $20 million and the investor must understand and capable of bearing the risk of possible loss of that investment.  This press release does not constitute an offer or solicitation in any jurisdiction to any person or entity to which it is unlawful to make such offer or solicitation in such jurisdiction. 

Alternative investments are speculative and involve a great degree of risk and are not suitable for all investors. An investment in the Interests offered hereby involves risk and is suitable only for investors that have substantial financial resources in relation to their investment in the Interests and that understand both the tax consequences and particular risk factors of this investment.   Private funds are not subject to the same regulatory requirements as registered funds.  The Fund has not been and will not be registered under the U.S. Securities Act of 1933, as amended.  The Fund will not be registered as an investment company under the U.S. Investment Company Act of 1940, as amended.  Investors will not be afforded the protections of the Investment Company Act.

An investment in the Fund will involve significant risks due, among other things, to the nature of the Fund's investments. Investors should have the financial ability and willingness to accept the risks and lack of liquidity that are characteristic of the investments described herein. No assurance can be given that the Fund's investment objective will be achieved or that investors will receive a return of their capital. Potential investors should carefully read the information under.

There will be no public market for the Fund, and there is no obligation on the part of any person to register the Interests under the Securities Act or any blue sky law. Accordingly, investors should be aware that they will be required to bear the financial risks of an investment in the Fund for an indefinite period of time.

The Fund is subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under the Securities Act and the applicable blue sky laws. Additionally, the Fund may not be directly or indirectly sold, assigned, transferred, pledged, hypothecated, disposed or encumbered, in whole or in part, except as provided in the applicable limited partnership agreement of the Fund.

QIC Limited ACN 130 539 123 ("QIC") is a wholesale funds manager and its products and services are not directly available to retail investors.  QIC is a company government owned corporation constituted under the Queensland Investment Corporation Act 1991 (Qld). QIC is regulated by State Government legislation pertaining to government owned corporations in addition to the Corporations Act 2001 (Cth) ("Corporations Act"). QIC does not hold an Australian financial services ("AFS") licence and certain provisions (including the financial product disclosure provisions) of the Corporations Act do not apply to QIC. Please note however that some wholly owned subsidiaries of QIC have been issued with an AFS licence and are required to comply with the Corporations Act.  QIC also has wholly owned subsidiaries authorised, registered or licensed by the UK FCA, USA SEC, Irish Central Bank and Korean FSS.

For more information about QIC Limited ACN 130 539 123 ("QIC"), our approach and regulatory framework, please refer to our website www.qic.com or contact us directly.

This document is issued by QIC Investments No 1 Pty Ltd in the USA. Neither this document nor any advertisement or other offering material may be distributed or published in any jurisdiction, except under circumstances that will result in compliance with any applicable laws and regulations.

QIC European Investment Services Limited ("QEIS"), a wholly owned subsidiary of QIC, is a private limited company incorporated in England and is authorised and regulated by the UK Financial Conduct Authority ("FCA") (www.fca.org.uk). This authorisation allows QEIS to market its products and provide cross border services across certain European Economic Area States via a MiFID Corporate Passport. QIC Limited ACN 130 539 123 ("QIC") is a wholesale funds manager and its products and services are not directly available to retail clients.

The promotion of unregulated collective investment schemes by authorised persons is restricted in the UK pursuant to section 238 of FSMA. As a result, these materials are directed only at persons who are professional clients or eligible counterparties for the purposes of the FCA's Conduct of Business Sourcebook (together with Investment Professionals, "Relevant Persons"). Any investment or investment activity to which these materials relate is available, subject to QIC's discretion, only to Relevant Persons in accordance with the foregoing and will be engaged in only with such persons.

As at the date of this document, the Fund has been notified, registered or approved (as the case may be and howsoever described) in accordance with the local law/regulations implementing the Alternative Investment Fund Managers Directive (Directive (2011/61/EU)) (the "AIFMD") for marketing to professional investors into the following member state(s) of the European Economic AREA ("EEA") (each a "Member State"): Belgium, Finland, Denmark, Germany, Netherlands, Norway, Sweden, The United Kingdom and Ireland. In relation to other member states, this document may only be distributed and Interests may only be offered or placed in a member state: (i) at the investor's own initiative; or (ii) to the extent that this document may otherwise be lawfully distributed and the Interests may lawfully be offered or placed in that member state.

Vittorio Lacagnina is a registered representative with Foreside Fund Services LLC, a broker-dealer that is not affiliated with QIC.

Copyright QIC Limited, Australia 2015.  All rights are reserved.

¹ As at 31 March 2015
² As at 31 March 2015
³ From inception in January 2006 to March 2015

SOURCE QIC

Related Links

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