AGEST Super is in the process of boosting its infrastructure and private equity allocations and is currently reviewing managers in the infrastructure space.
Michael Seton, AGEST chief executive officer, said the fund was looking to increase its infrastructure allocation to 6 per cent off a base of almost zero. “A lot of due diligence is required in those areas,” he said. Although international opportunities were also being reviewed, Seton said the infrastructure allocation would be mostly domestic. The $1.8 billion fund currently has a 5 per cent allocation to hedge funds and is also looking to make a 2 per cent allocation to private equity, which will push its entire alternative asset allocation to 13 per cent of total funds. “They are the areas we are boosting up,” Seton said.
The $355 billion AustralianSuper has acquired a $1.4 billion European industrial and logistics portfolio, owned by OMERS real estate subsidiary Oxford Properties. The nation’s biggest fund is targeting a $7.5 billion valuation for the venture and $35 billion allocation in European and UK region before 2030, supported by its biggest international office in London with 121 employees.
Darcy SongJanuary 14, 2025
