Colonial First State (CFS) has allocated $370 million to a global infrastructure strategy managed by Morrison, marking a new strategic partnership aimed at expanding the fund’s private markets exposure.
The allocation will be made through CFS’s private markets portfolio into Morrison’s value-add strategy across both fund and discretionary co-investments.
Infrastructure manager Morrison’s global, mid-market value-add infrastructure strategy has a diversified geographic mandate across North America, Europe and Asia-Pacific, targeting investments backed by long-term structural growth themes and defensive characteristics.
The strategy focuses on sectors including digital infrastructure, energy transition, and transport and logistics.
“This partnership with Morrison aligns with our objective of building a resilient, diversified infrastructure portfolio. It reflects our continued focus on high-quality, actively managed investments that deliver strong risk-adjusted returns for our members,” said Jonathan Armitage, chief investment officer at CFS.
“We are pleased to partner with a global manager that brings deep sector expertise and a long-term investment approach,” Armitage added.
CFS said the commitment would provide exposure to a pipeline of global infrastructure opportunities, while also allowing the fund to benefit from Morrison’s global operating platform and sector expertise.
Capital has already been deployed under the value-add strategy into two investments, including Polaris, Morrison’s Asia-Pacific cold storage platform, and Fillex, a US pharmacy logistics platform.
“We appreciate Colonial First State’s commitment to Morrison’s value-add infrastructure capabilities, which reflects the growing demand we’re seeing globally for high-quality, mid-market infrastructure investments,” said Paul Newfield, chief executive at Morrison.
“We’re pleased to establish this partnership with CFS and look forward to working together closely as we invest the capital they’ve entrusted to us across our global pipeline.”
