Big UK pension scheme RBS Group Pension Fund has awarded a $1.1 billion private market infrastructure mandate to the Australian firm Hastings Funds Management.
The mandate involves the long-term management of core infrastructure assets in the UK and OECD countries.
As part of the mandate, Hastings can invest in both equity and debt infrastructure assets – including owning the whole capital structure of an asset.
Hastings specialises in equity and debt infrastructure, according to Hastings chief executive Andrew Daly.
"Our approach is to partner with a select number of like-minded clients in this attractive asset class, in what is an increasingly challenging global investment environment," Daly said.
Hastings was established in Australia in 1994, and opened its London office in 2005. As at 31 May 2012, the fund manager had $7.1 billion in funds under management, with a portfolio comprising utilities, airports, toll roads and seaports in Australia, the UK, Europe and Asia.
