3 Billion Euro Deal
The National Pension Service Investment Management (NPSIM) and the All Pension Group (APG) of the Netherlands formed a consortium and bought 81 percent of shares of Brisa, a Portuguese expressway management company, by investing three billion euros.
The members of the consortium also include SLAM, which is Swiss Life’s asset management arm.
Brisa currently owns 17 expressways with a total length of 1,628 kilometers in Portugal. The shares are divided into half of JdM Group and the rest of London-based infrastructure investor Arcus. The deal is scheduled to be completed in the third quarter of this year.
The NPSIM is gradually increasing its alternative investment ratio. Specifically, the ratio increased from 11.5 percent to 11.9 percent (87.5 trillion won) in February this year and is scheduled to reach 13 percent at the end of this year.
Recently, it acquired 49.5 percent of the One Madison Avenue building redevelopment project in Manhattan together with real estate investor Hines by investing approximately 600 billion won.