CalPERS made its first foray into Asia-Pacific infrastructure in 2015.: California Public Employees’ Retirement System (CalPERS) is expanding its Asia-Pacific infrastructure partnership with Australian fund manager QIC. The $352bn pension fund said in a board meeting document that it had approved a $600m (€509m) commitment to the Golden Reef Infrastructure Trust separate account. In 2016, QIC led a consortium to secure a 50-year lease from the Victorian government to run the Port of Melbourne. QIC said it will be managing an interest on behalf of Golden Reef.