Washington State Investment Board (WSIB) is planning to make an initial $115m (鈧�107.6m) commitment to a new infrastructure separate account relationship with CBRE Investment Management.
The pension fund said the newly created separate account relationship, known as CBRE Minke Investments, will invest in transportation-related infrastructure in Canada.
The account will invest in remote roads that provide essential access to valuable infrastructure projects that are not accessible from the public highway system, the pension fund said.
鈥淩emote roads provide stable, long-term contracted cash flows underpinned by long-term road use agreements,鈥� WSIB told 91传媒在线.
WSIB expects the initial allocation to be approved following discussions at the pension fund鈥檚 15 June board meeting.
Once approved, the relationship will represent WSIB鈥檚 first tangible asset investment with CBRE IM which declined a request for comment.
WSIB鈥檚 $10.4bn tangible asset portfolio comprises 35.3% of energy assets, 31.8% in agriculture, 26.6% in society essentials assets and 6.3% in minerals/mining assets.
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