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Calpers strikes up $500m UBS partnership
07 August 2014
Newly-created firm, Golden State Matterhorn, will invest in global infrastructure
The California Public Employees' Retirement System (Calpers)
has embarked on a new $500m global infrastructure partnership
with UBS Global Asset Management (UBS).
Calpers will contribute $485m to the newly formed company,
while UBS will contribute $15 million and act as managing
The partnership will operate as Golden State Matterhorn and
will pursue infrastructure investment opportunities in the U.S.
and global developed markets.
"UBS brings extensive experience and a proven track record in
global infrastructure investing that makes them a great fit for
this partnership," said Ted Eliopoulos, Calpers Interim chief
"We're excited to work with them as we identify and acquire
core assets that will provide the best risk-adjusted returns
for our portfolio."
The Calpers Infrastructure Program seeks to provide stable,
risk-adjusted returns to the total fund by investing in public
and private infrastructure, primarily within the
transportation, power, energy, and water sectors.
Calpers currently holds approximately $1.8bn in infrastructure
assets, with a total of $30bn in the real assets portfolio.