McMorgan & Company and GrandFund Investment Group’s McMorgan Infrastructure Fund I has joined the Global Strategic Investment Alliance (GSIA) with USD1.325 billion in capital commitments.
The McMorgan Infrastructure Fund I is the sixth and final member of the GSIA, which has more than USD12.5 billion in capital commitments.
The GSIA is a co-investment programme developed by the Ontario Municipal Employees Retirement System (OMERS) that deploys the expertise of OMERS infrastructure investment arm, Borealis Infrastructure, to pursue large-scale, core-infrastructure investment opportunities around the globe.
Other GSIA members include Pension Fund Association of Japan, a Mitsubishi Corporation (MC) led consortium whose investors are MC, Japan Bank for International Cooperation and Mizuho Bank, and a unit trust invested by Japan's Government Pension Investment Fund and Development Bank of Japan.
"We are excited to unite long-term, like-minded capital in the United States with such prestigious global investment partners," says John Santaguida, CEO of McMorgan & Company, the fund's investment manager and general partner. "Most importantly, these investment opportunities offer not only a compelling return and cash flow profile for Taft-Hartley plan beneficiaries. They also support high-quality jobs for skilled workers and much-needed modern infrastructure for economic growth."
"The formal close of the McMorgan Infrastructure Fund I brings to fruition what we have envisioned from the start to be a game-changing programme for efficient and responsible investment of pension capital," says Charles Bertucio, CEO of GrandFund Investment Group.
GrandFund Investment Group holds the role of placement agent and operating advisor for the fund.
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