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QIC raises $528 mln for global infrastructure fund

QIC said it Global Infrastructure Fund has secured $528 million in commitments. Brisbane, Australia-based QIC is an institutional investment manager. Paul Costello was named independent chairman of the QIC Global Infrastructure Investment Committee.


NEW YORK–(BUSINESS WIRE)–QIC, a global diversified alternatives investment firm offering infrastructure, real estate, private equity, liquid strategies and multi-asset investments and one of Australia’s largest institutional investment managers, today announced that its QIC Global Infrastructure Fund (the Fund) has secured initial capital commitments totalling US$528 million from four institutional investors.

CEO Damien Frawley said, “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). Mr. Costello was the inaugural CEO of Australia’s Future Fund and the first CEO of the New Zealand Superannuation Fund.
Commenting on Mr. Costello’s new leadership role, Mr. Frawley said, “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. ”
Mr. Costello started in his role at QIC in late 2014. In addition to Mr. 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.
About QIC:
QIC is one of the largest institutional investment managers in Australia, with US$57.9 billion1 in funds under management. QIC has over 90 clients including governments, pension plans, sovereign wealth funds and insurers, spanning Australia, Europe, Asia, Middle East and the US. Headquartered in Brisbane, Australia QIC also has offices in New York, San Francisco, Los Angeles and London.
About QIC’s Global Infrastructure Business:
QIC is a long-term infrastructure investor with an established global platform. We currently manage over US$4.4 billion2 across 10 global direct investments spanning transport, utilities and public-private partnership assets and have realised a further US$5.8 billion3 of investments for our clients. Our infrastructure portfolio has protected clients’ capital while delivering strong total returns over its full history.
QIC Limited ACN 130 539 123 (“QIC”) is a wholesale funds manager and its products and services are not directly available to retail clients. QIC is a company government owned corporation constituted under the Queensland Investment Corporation Act 1991 (Qld). QIC is regulated by State Government legislation pertaining to government owned corporations in addition to the Corporations Act 2001 (Cth) (“Corporations Act”). QIC does not hold an Australian financial services (“AFS”) licence and certain provisions (including the financial product disclosure provisions) of the Corporations Act do not apply to QIC. Please note however that some wholly owned subsidiaries of QIC have been issued with an AFS licence and are required to comply with the Corporations Act. QIC also has wholly owned subsidiaries authorised, registered or licensed by the UK FCA, USA SEC, Irish Central Bank and Korean FSS.
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