GSIS signs multi-billion deal with GIP

NEW York City – Government Service Insurance System (GSIS) president and general manager Wick Veloso signed on Wednesday an agreement with James Amine, a partner in the Global Infrastructure Partners (GIP) Emerging Markets Fund.

Under the agreement, the GSIS will invest $300 million for global infrastructure projects covering transport, energy and digitalization.

“This partnership is in line with our continued effort to further diversify our assets and generate higher returns for the benefit of our more than two million members and pensioners,” Veloso said.

GIP, founded in 2006 and based in New York City, is a leading global independent infrastructure fund manager that administers $87 billion in assets on behalf of its investor base.

It seeks to invest in power and utilities, natural resources infrastructure, air transport infrastructure, seaports, freight railroad, water distribution and treatment, and waste management.

The firm works in partnership with public sector co-investors and stakeholders to deliver improvements in infrastructure. As the largest owner of private airports, GIP has particularly cemented its position as the leading British airport operator transforming London’s City and Gatwick airports and Scotland’s Edinburg airport into highly profitable and comfortable terminals.

GIP is led by 27 partners including Dr. Jim Yong Kim, Vice Chairman and GIP Emerging Markets Chairman who served as the 12th President of the World Bank Group from July 2012 to February 2019, and Dr. Jin-Yong Cai, GIP Emerging Markets Managing Partner, who was the Chief Executive Officer of the International Finance Corporation of the World Bank Group from 2012 to 2016.