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.
The sovereign wealth fund grew $11.5 billion in the March quarter, according to its latest portfolio update, having previously voiced caution about inflation’s downward trajectory.
The property group, owned by industry super fund Aware Super, has announced two new projects with a total construction value of $320 million that will add more than 700 homes to Melbourne’s rental market.
While institutional investors, including super funds, unanimously acknowledge the energy transition as a significant challenge, their perspectives on the extent of their involvement in addressing the substantial capital requirements vary widely.
Despite a period of increased volatility, several considerations suggest that the bull market will remain intact and the trend in shares will remain up, an economist has suggested.
Add new comment