A key architect of the compulsory retirement savings system lauds its many achievements, stretching from the national economy to the individual. Where it’s double faulting is in serving members – and it needs to be addressed promptly.
With performance and diversification driving demand, these funds are expected to experience four-fold global growth over the next decade to nearly $AU65 trillion.
Aussie Super, QIC back sustainable infrastructure
AustralianSuper and QIC have become part of a select group of financial backers in an American funds manager which specialises in ‘sustainable’ infrastructure projects. The manager, Generate Capital, has secured a total of US$1.5 billion in a recent raising.
Other investors in the raising include Railways Pension (of Canada) and Sweden’s AP2, according to a report in Financial Standard. The actual investments are undisclosed but will see AustralianSuper senior investments director, infrastructure, Derek Chu and QIC head of global infrastructure, Ross Israel, join the Generate board.
“We are delighted to partner with Generate whose customer-centric business model, depth of sector expertise, and pioneering vision position it uniquely as a leading infrastructure platform to harness these trends,” Israel said in a prepared statement.
“We look forward to continuing to support Generate’s growth while pursuing additional thematic infrastructure investment opportunities in the North American market.”
Other assets held by QIC in the US include CampusParc at the Ohio State University, MasParc and Mobility LLC at Northeastern University, and a 40 per cent stake in California’s Long Beach Courthouse.
Generate chief executive and co-founder, Scott Jacobs, said: “We are fortunate to add partners like AustralianSuper, QIC, Railways Pension and AP2, who share our vision and values and are excited to support us in scaling sustainable infrastructure solutions.”
“As cities, municipalities and corporations increasingly prioritize the undeniable economic benefits of sustainability and decarbonisation, Generate has a critical role to play in the market…”
Generate builds, owns, operates, and finances sustainable infrastructure that delivers affordable and reliable resource solutions for companies, governments and communities, largely across North America.
– G.B.
