QIC’s Global Infrastructure Fund (the fund) has secured initial capital commitments totalling USD528 million from four institutional investors.
CEO Damien Frawley, says: “We’re pleased that major institutional investors, including an Asian sovereign wealth fund and a major Australian pension scheme, have committed to our new global infrastructure fund. This is an exciting time for investment opportunities and further growth in the infrastructure sector in key markets around the world, including in the US and Europe. We believe QIC’s infrastructure pedigree is second to none, and we’re delighted to be able to make available to more institutional investors the successful global infrastructure strategy that we have had in place for separately managed account clients since 2006.”
QIC also announced that Paul Costello, a highly respected investment industry leader, has been appointed as the independent chairman of the QIC Global Infrastructure Investment Committee (the Committee). Costello was the inaugural CEO of Australia’s Future Fund and the first CEO of the New Zealand Superannuation Fund.
Frawley says: “Paul’s appointment further underscores QIC’s commitment to world class investment management, strong governance and deep risk management. We have significant global growth plans for our infrastructure capability as evidenced by our new global fund and his role will complement the existing team responsible for our infrastructure track record. ”
Costello started in his role at QIC in late 2014. In addition to Costello, the Committee will comprise members of QIC’s Global Infrastructure team, including founders Ross Israel and Matina Papathanasiou, and two partners on a rotating basis, as well as Peter Forbes, a highly experienced independent expert.
QIC is working to gain regulatory approvals for the Fund in a number of international jurisdictions.
