Five of Switzerland's largest pension funds are supprting a new CHF300 million (€247 million) infrastructure fund, which is targeting to invest 30 % of its capital domestically. The name of the new fund is IST3 Infrastruktur Global.
The fund, launched by the not-for-profit IST Investment Foundation, said it has achieved first close attracting commitments from investors including the CHF20 billion Migros Pensionskasse (MPK) and the CHF5.9 billion Luzerner Pensionskasse. Other investors such as the pension funds of big companies Roche, Manor and the pension fund for the Swiss energy sector PKE also committed funds.
IST said in a statement that would target to invest 70 % of its capital in assets across OECD member states.
The sector focus includes energy, transport, communication and social infrastructure assets.
The board will be composed by experts of the infrastructure and pension funds industries. Christian Stark of MPK will chair the board. Other members include: Barbara Weber, B Capital Partners founder; Peter Voser, Aargauische Pensionskasse; Michael Ryan, Dalmore Capital chief executive, Jeffrey Parker, formerly of Ernst & Young Infrastructure Advisors, and Martin Rey.
The investment committee has hired two advisers, one for direct and one for secondary investments. Names have not been revealed.
Anliker said the fund would concentrate on brownfield investments but also consider the secondaries market during its growth phase.