Daniel Kemp
The Australian superfund is our highest new entrant this year, thus reflecting the growth of funds Down Under as consolidation accelerates, writes Daniel Kemp
After being heavily criticised for proposing to use listed benchmarks for unlisted assets, the government has chosen MSCI’s unlisted index as a measuring stick, leading to a new round of criticism
The sale attracted interest from a wide range of buyers globally, illustrating how large the pool of potential buyers for large-scale ag assets has become.
With an economy that’s fast recovering thanks to the government’s effective response to the pandemic, opportunities abound in several sub-sectors.
The government’s superannuation reforms, which were heavily criticised in some quarters for using crude benchmarks, will use MSCI’s unlisted benchmarks after industry consultation.
In a shift in strategy since its rebrand, Aware Super is ‘not really focused’ on supporting new fund managers or blind-pool funds, senior portfolio manager Mark Hector says.
The Lucky Bay shallow-water port, operational since mid-2020, could list in late 2023 following a capital raise to fund expansion and repay construction debt.
All Chinese investors were essentially classed as sovereign capital by the government last year, sources say, but the stance may be softening in 2021.
The $2.1bn deal will see the partners acquire an 836MW operational wind portfolio and a 5GW development pipeline across multiple technologies.
The fund will focus on projects in Japan, South Korea and Taiwan to capitalise on feed-in tariffs and the countries’ decarbonisation targets.
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