Opening up early access to super for housing would have a negative effect on the balances of even those members that don’t dig into their savings, with funds forced to adopt more conservative investment strategies and hold more liquid assets.
The circa $88 billion industry fund for workers in health and community services reckons that alleviating the affordable housing crisis will boost its other investments by easing the cost of living and inflation.
QIC bullish on global infrastructure
(Pictured: Vittorio Lacagnina)
QIC has underscored its belief in the growth of global infrastructure investing with the recruitment of Vittorio Lacagnina to head up capital formation for North America and Europe from the firm’s new New York office.
Lacagnina was hired from SteelRiver Infrastructure Partners where he was an investment director responsible for global fund raising and co-investment. Previously, he was a senior originator at Babcock & Brown where he led infrastructure co-investment in North America before becoming involved in a management buyout that led to the formation of SteelRiver.
Brian Delaney, QIC’s head of global clients and marketing said institutional investors were expressing growing interest in global infrastructure.
“Vittorio’s appointment reflects our upbeat outlook for infrastructure investing. An increasing number of governments around the world are encouraging private sector infrastructure investment and Australia is poised for an estimated $135 billion wave of energy and transport infrastructure privatisations over the next three to five years.”
QIC, which manages about $70 billion overall, currently oversees $5.1 billion in 11 infrastructure direct investments. It has realized a further $6.6 billion of infrastructure investments.
