GLOBAL - PGGM, the Canadian Public Sector Pension Investment Board (PSP Investments) and Retirement Benefits Fund Board of Tasmania (RBF) have committed to infrastructure in two separate deals led by Australian consortia.
RBF, the largest public sector pension fund in Tasmania, said: "This investment will provide a unique opportunity for RBF to invest in Tasmania's premier transport asset."
The state fund has around AUS$3.5bn (US$3bn) in assets under management.
Dutch pension fund PGGM owns 9% and PSP Investments 20% of Myria Acquisition Inc, the company which has taken an 80% stake in MidCon LLC, which this week acquired Natural Gas Pipeline Company of America (NGPL).
No financial data relating to the deal has been released.
PGGM today confirmed it now holds an internal infrastructure mandate of €1.5bn (US$2.2bn) out of its total assets under management of €88bn (US$129.2bn).
As one of North America's largest gas pipelines, NGPL's estimated enterprise value stood at AUS$7.6bn (US$6.7bn) when the transaction was agreed.
The consortium to take over NGPL was lead by Babcock & Brown, which took an overall 32% stake in the pipeline company.
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