Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg News

California Pension Fund Makes $500 Million Infrastructure Deal

February 13, 2012

Feb. 7 (Bloomberg) -- The California State Teachers’ Retirement System, the second-largest U.S. public pension, said it will invest $500 million in infrastructure projects such as water lines and mobile-phone towers.

The pension fund will make the investments in two parts over 18 months through Australia’s Industry Funds Management Pty Ltd., said Ricardo Duran, a spokesman for the California retirement system. The investments will be placed primarily in North America and Europe, Duran said.

The $144.8 billion pension fund is ramping up a new program to invest in infrastructure as a way to hedge against inflation and build stable, long-term revenue sources. The California Public Employees’ Retirement System, the largest public pension in the U.S. with $233 billion, has a similar program.

“Because we are so new at this, it’s in the core infrastructure which are things like water transmission, power lines, cell-phone towers,” Duran said in a telephone interview.

Phil Davey, a spokesman for Industry Funds Management, said he wasn’t immediately able to respond to a Bloomberg News request for comment.

The investment was reported earlier by the Wall Street Journal.

--With assistance from Jacob Greber in Sydney. Editors: Pete Young, Andreea Papuc

To contact the reporter on this story: Michael B. Marois in Sacramento at

To contact the editor responsible for this story: Mark Tannenbaum at

blog comments powered by Disqus