Financial investment from First State Super will be used to build a world class standard academy for Fire and Rescue NSW.
First State Super chief executive, Michael Dwyer, said that the investment would be aimed specifically at the developing areas in Sydney's West and will be of tangible benefit to the community.
"Through our investment, firefighters will have access to an extensive range of training equipment and technology that will better equip them to respond to the dangerous challenges they face as they serve regional and metropolitan areas," he said.
"First State Super is proud to investing in this new facility that will provide our firefighters with a state-of-the-art training environment and deliver benefits to the burgeoning Western Sydney district… it will provide tangible benefits to the community now and secure strong investment returns to build retirement savings for the future."
IFM has firmly opposed any push for publicly disclosing current valuations of private market assets, saying it would “damage the financial interests of investors” and reduce appetite for infrastructure and private business investment.
Subdued GDP figures have bolstered expectations that the RBA could cut rates sooner and, possibly more aggressively, market watchers say.
Australian institutional investors plan to keep their finger on the pulse of private markets, new data has shown, with local investors aiming to further expand allocations into the sector.
The RBA has opted for a 25 bp rate cut last month to ensure that at a time of heightened uncertainty, monetary policy settings remained “predictable”.