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IFM Investors Welcomes New Partners into the Indiana Toll Road ConcessionIFM Investors, on behalf of the IFM Global Infrastructure Fund ("IFM GIF"), today announced that it has completed the sale of a 10 percent interest in ITR Concession Company LLC ("ITRCC") to the California Public Employees' Retirement System ("CalPERS"), and an interest to Allstate. ITRCC is party to a Concession and Lease Agreement between ITRCC and the Indiana Finance Authority ("IFA"), pursuant to which ITRCC operates and maintains the Indiana Toll Road ("ITR"), a 157-mile, limited access, divided highway in the state of Indiana. The road spans northern Indiana, from its border with Ohio to the Illinois state line near Chicago, feeding directly into two toll roads at the state lines - the Chicago Skyway in the west and the Ohio Turnpike in the east. The Concession and Lease Agreement grants ITRCC the exclusive right to collect toll revenues from the toll road for the next 65 years. IFM GIF continues to hold more than 85 percent of ITRCC. Julio Garcia, Head of Infrastructure - North America at IFM Investors said: "We are delighted to partner with CalPERS and Allstate as investors in this critical piece of U.S. transportation infrastructure. Since IFM GIF's acquisition in May 2015, ITRCC has announced the US$200 million 80/90 PUSH Project, a major rehabilitation of a 73 mile segment of the ITR, and has successfully refinanced its acquisition financing. These initiatives are aimed at enhancing the quality of the toll road for users, targeting increased safety, and driving valu for investors. IFM GIF represents more than 70 U.S. based pension funds as investors in the ITR." Macquarie Capital and Orrick, Herrington & Sutcliffe acted as advisors to IFM Investors for this transaction. About IFM Investors IFM Investors is a uniquely-structured global fund manager with US$52 billion under management as of 31 March 2016. Established over 20 years ago and owned by 29 Australian non-profit pension funds, IFM Investors' interests are deeply aligned with those of its investors, the largest number of which are U.S. pension funds. Investment teams in Australia, North America and Europe manage institutional strategies across infrastructure, debt investments, listed equities and private capital. IFM Investors is committed to the United Nations supported Principles for Responsible Investment and has been a signatory since 2008. IFM Investors has offices in Melbourne, Sydney, New York, London, Berlin and Tokyo. For more information visit www.ifminvestors.com. About CalPERS CalPERS is the largest public pension plan in the United States and provides retirement and health benefits to more than 1.7 million public employees, retirees, and their families and to more than 3,000 employers. CalPERS' assets total approximately US$294 billion across asset classes in domestic and international markets, including public equity, fixed income, private equity, and real assets (comprised of real estate, infrastructure and forestland programs). About Allstate The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer, protecting approximately 16 million households from life's uncertainties through auto, home, life and other insurance. Allstate Investments has decades of experience pursuing strategies in a broad array of asset classes and geographies in both the public and private markets. For more information on the company's investments focus, visit www.allstateinvestments.com.
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