The Philippines Government Service Insurance System (GSIS), and three investor partners, launched the largest infrastructure fund set up for the Philippines valued at USD625 Million or P25 billion.

The fund, dubbed PInAI, or Philippine Investment Alliance for Infrastructure, also drew the participation of the Asian Development Bank, Dutch pension fund asset manager Algemene Pension Groep (APG) and Macquarie Infrastructure and Real Asset (MIRA). MIRA was also appointed as the Pinai fund manager.

The creation of the fund was first announced by President Benigno S. Aquino in May 2012 during the 75th anniversary celebration of the GSIS.

As a vehicle for investors to participate in the country's core infrastructure projects, the fund will also support the Public-Private Partnership (PPP) initiative of the Aquino Administration.

Through the PInAI, the GSIS will diversify its income sources and achieve greater returns that will enable the fund to enhance its products and services for its stakeholders. GSIS officials reckon that the fund will benefit its 1.7 million members and pensioners of the government pension system.

PInAI will invest in the following sectors -- transportation, energy, power, water, environment, communications, as well as other PPP investment opportunities.