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Troy Rieck, the superfund’s newly appointed CIO, talks fees, an increase in co-investments and debt commitments, and why he ‘doesn’t care’ about the definition of infra – as long as it’s a good investment.
Australian infra head Michael Hanna says the capex spend - 'one of the biggest across the Australian economy over the next decade' - is ‘very appealing’ due to high valuations for core infra.
Brisbane, Queensland
The combined entity would have more than A$180bn of AUM and be larger than the country’s current largest fund, AustralianSuper.
Sydney skyline
Unlisted assets, including infrastructure, continued to deliver solid returns for Australian superfunds but returns were down on 2017-18 as listed assets bounced back.
The fund will invest $70m immediately in the company’s existing portfolio of six metropolitan data centres, with a further $45m available for future co-investments.
A merger would create country’s second-biggest superfund, behind only AustralianSuper and ahead of QSuper.
The Aussie superfund’s solo bid beat a joint offer from MIRA and Sunsuper, with Cbus dropping out of the process.
To meet today's deadline, the Transurban-led team had to submit a conditional bid for WestConnex without knowing if it will receive clearance from the competition watchdog in September.
The US-based renewables developer, backed by NZ Super and Infratil, is also proceeding with the construction of the 238MW Rio Bravo wind farm in the same state.
Private markets exposure is paying off Down Under, according to research from consultancy Chant West, with infra and PE among the best-performing asset classes.
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