China Life recently joined the acquisition of the largest American parking operator-Inter Park as Investment Advisor.
This is the first investment in overseas infrastructure conducted by China Life, demonstrating a further step in China Life’s portfolio diversification.
This investment is led by TIAA Private Investment and Antarctica Capital. China Investment Corporation, Munich Re and PFA Denmark also invested in this transaction.
Fengming Zhang, CEO of China Life Investment, said, “Investment in overseas infrastructure market will help boost diversification of China Life’s investment portfolio. We also enhanced the partnership between China Life and leading institutions in the world.”
Inter Park is North America's premier owner, operator and developer of parking facilities, parking over 16 million cars annually. Most of the parking facilities are located in center areas of downtown, central business districts and airports, which secure investors with stable cash flows.