Queensland-based LGIAsuper has continued to grow its infrastructure portfolio in regional Australia, and has announced it would increase its interest in the Port of Portland deep-water facility to 31 per cent.
The fund also announced that investment manager Palisade was moving to 100 per cent ownership, effectively doubling LGIAsuper’s stake.
Head of investments, Guy Rundle, said while LGIAsuper’s Australian and international equity portfolios were the pillars of the fund, infrastructure and other diversifying assets played an important role in generating consistent returns.
“Many of our members will be workforce participants for another four decades – possibly longer,” he said. “Our primary aim is to help our members fund a comfortable retirement, and we see investments like the Port of Portland as pivotal in helping generate the long-term results we’re seeking.”
LGIAsuper already held significant infrastructure investments across the country, and recently confirmed the $101 million acquisition of Village Roadshow’s theme park land on Queensland’s Gold Coast.
