Mitsubishi Corp. (8058), Japan’s biggest trading house, said it plans to invest as much as $2.5 billion in infrastructure projects in North America and Europe as part of a fund alliance.
The trader, which owns assets ranging from coal mines to wind farms, will join the Global Strategic Investment Alliance, a group that seeks to raise $20 billion, Mitsubishi said in a statement. The Ontario Municipal Employees Retirement System, a Canadian pension plan, is leading the alliance, Mitsubishi said.
The investment will be made with Mizuho Corporate Bank, a unit of Japan’s third-largest lender, Japan Bank for International Cooperation and the Pension Fund Association, according to the statement.
“This will be the first time the Japanese public pension fund has committed such a large-scale investment in infrastructure assets,” Mitsubishi said.
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