By Chino S. Leyco
Published: July 1, 2013
State-run Government Service Insurance System (GSIS) is eager to announce its first infrastructure project under the government’s Public-Private Partnership (PPP) program to be funded under the $625 million Philippine Investment Alliance for Infrastructure (PINAI) fund.
Robert G. Vergara, GSIS president and general manager said the pension fund wants its first infrastructure project to be up and running within this quarter after more than one-year of exploration.
“I’m hoping that we will have something up and running in the third-quarter, and I hope there would be some good news from that investment, but we’re still in negotiation for the project,” Vergara said, who declined to provide additional details.
He, however, hinted that the fund’s initial salve will be invested in a core infrastructure asset.
In June last year, the GSIS along with the Asian Development Bank (ADB), Dutch pension fund asset manager APG and the Macquarie Group sealed a $625 million PINAI fund.
“We are very close to potentially be announcing the first project that this fund will make,” Vergara said.
GSIS is the lead investor of the fund with initial commitment of $400 million, which Vergara envisioned to create more jobs for the country and put it on the path of sustained as well as higher levels of economic growth.
Vergara earlier said that GSIS, which has $15 billion to $17 billion under its management, expects PINAI fund to be fully deployed and invested within the three year horizon, which is positioned to support the development of critical infrastructure projects from the ground up. PINAI has a mandate to invest equity and equity-like instruments directly in infrastructure businesses and projects in the Philippines. It will invest in a mix of both brownfield and greenfield projects across the infrastructure sector, like transport, power, renewable energy, water and telecommunication.Source: GSIS readies first infra project
Robert G. Vergara, GSIS president and general manager said the pension fund wants its first infrastructure project to be up and running within this quarter after more than one-year of exploration.
“I’m hoping that we will have something up and running in the third-quarter, and I hope there would be some good news from that investment, but we’re still in negotiation for the project,” Vergara said, who declined to provide additional details.
He, however, hinted that the fund’s initial salve will be invested in a core infrastructure asset.
In June last year, the GSIS along with the Asian Development Bank (ADB), Dutch pension fund asset manager APG and the Macquarie Group sealed a $625 million PINAI fund.
“We are very close to potentially be announcing the first project that this fund will make,” Vergara said.
GSIS is the lead investor of the fund with initial commitment of $400 million, which Vergara envisioned to create more jobs for the country and put it on the path of sustained as well as higher levels of economic growth.
Vergara earlier said that GSIS, which has $15 billion to $17 billion under its management, expects PINAI fund to be fully deployed and invested within the three year horizon, which is positioned to support the development of critical infrastructure projects from the ground up. PINAI has a mandate to invest equity and equity-like instruments directly in infrastructure businesses and projects in the Philippines. It will invest in a mix of both brownfield and greenfield projects across the infrastructure sector, like transport, power, renewable energy, water and telecommunication.Source: GSIS readies first infra project
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