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Government Pension Investment Fund to Invest 2.7 Billion in Infrastructure

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Japan’s Government Pension Investment Fund, the world’s largest pool of retirement savings, will invest as much as $2.7 billion in infrastructure over the next five years.

The Japanese fund will form a partnership with Development Bank of Japan Inc. and Ontario Municipal Employees Retirement System to make the investments, GPIF said at a briefing today in Tokyo.

GPIF is under pressure to revamp its strategy and reduce holdings of domestic bonds, the world’s lowest-yielding sovereign debt, as Prime Minister Shinzo Abe and the Bank of Japan seek to spur inflation. An expert panel in November advised the fund to consider putting money into infrastructure, overseas assets, private equity, commodities and real-estate investment trusts. Continue reading….