CalPERS invested $75 million in the Thailand Equity fund, a new private equity vehicle sponsored by Lombard Investments and the World Banks International Finance Corp. The $151 billion California Public Employees Retirement System, Sacramento, is the largest investor in the fund, which is expected to reach $250 million.
Thailands Finance Ministry will invest about $30 million. Other domestic investments include: $50 million from 13 members of the Thai Bankers Association; $10 million from the Industrial Finance Corp. of Thailand; and $5 million each from the Thai Government Pension Fund and the Government Savings Bank. Other foreign investments include $37.5 million from the IFC and $25 million from the Asian Development Bank.
The fund will invest only in companies that agree to comply with the government of Thailand and IFC environmental and social policies, including tough corporate governance policies.