Return to search

QIC reorganises South Australia team

The alternatives investment manager has appointed a senior consultant in its QIC Global Infrastructure team and named a new chairperson for its A$400m portfolio company Epic Energy.

The global infrastructure arm of QIC has made two changes to its South Australian senior advisory team.

John Rickus, formerly the chairman of QIC’s portfolio company Epic Energy South Australia, has become a senior consultant representing QIC Global Infrastructure in the South Australian market.

Laura Reed, a non-executive director at Epic Energy, the South Australian-based gas transmission pipeline company, and chair of the Audit and Risk Committee, is taking over as chairperson of Epic Energy from Rickus. Reed has also held roles as chief executive of Spark Infrastructure and as chief financial officer of Envestra and brings “significant experience of both gas and energy markets”, said Ross Israel, head of QIC Global Infrastructure, in a statement.

Rickus, on the other hand, has worked as a non-executive director at Brisbane and Adelaide Airports boards, chairman of Flingers Ports, and chairman of Epic Energy for the past four years. Isreal added that he brings “significant infrastructure and local market knowledge to further strengthen QIC’s position in the South Australian market.”

“This is an important time in both the Epic Energy business and QIC’s global infrastructure business,” said Israel, adding the changes were made to “maintain a strong independent board at Epic Energy and to focus skilled resources in other key areas.”

QIC acquired Epic Energy for A$400.6 million ($304 million; €284 million) from Australian gas utility APA Group in April 2013.

The Australian investment manager currently manages A$9.5 billion in 12 direct investments across the world. Last month, it achieved a final close on its global infrastructure fund at A$2.35 billion, exceeding the initial target of A$1.75 billion. The core vehicle targets assets in Australia, Europe and North America.