April 6, 2018 / 12:36 PM / 3 months ago

Pension funds invest 1 billion euros in Globalvia infrastructure

AMSTERDAM (Reuters) - Three large pension fund managers said on Friday they had invested 1 billion euros ($1.22 billion) in Madrid-based Globalvia, a transportation infrastructure developer.

Globalvia is 40.8 percent owned by the Netherlands’ PGGM, 40.3 percent owned by Canada’s OPTrust, and 18.9 percent owned by Britain’s USS.

PGGM spokesman Maurice Wilbrink said the 1 billion euros was invested proportionately between the owners.

Globalvia has now received 700 million euros in all from PGGM, making it the Dutch fund’s largest infrastructure investment vehicle.

In a statement, the funds said Globalvia’s investments in rail and road concessions promise healthy returns and are a good fit with the pension funds’ long-term goals.

PGGM, with historical links to Dutch healthcare workers, has 218 billion euros in total assets under management.

Reporting by Toby Sterling; Editing by Mark Heinrich

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