The Philippines’ Government Service Insurance System (GSIS) plans to invest US$300 million in global infrastructure projects covering transport, energy and digitilastion.
The investment will be made through the emerging-market fund of Global Infrastructure Partners, a $89 billion infrastructure fund manager based in New York.
GSIS announced in a statement on April 18 that its President and General Manager Wick Veloso and James Amine, the US firm’s partner, have signed an agreement for the investment.
“This partnership is in line with our continued effort to further diversify our assets and generate higher returns for the benefit of our more than two million members and pensioners,” Veloso says in the statement.
GSIS, which manages the retirement savings of civil servants, had 1.53 trillion pesos ($27.24 billion) of assets under management as of end-June 2022.