CalPERS added to its far-flung portfolio of infrastructure investments Wednesday, announcing it’s buying a portion of a company that operates a major toll highway in Indiana.
The California Public Employees’ Retirement System said it bought a 10 percent stake in the Indiana Toll Road Concession Co. from global fund manager IFM Investors. The concession company runs the 157-mile highway under a contract with the state of Indiana.
It’s CalPERS’ first U.S. transportation investment. Financial details weren’t released.