The $30 billion NSW State Super is favouring mature infrastructure investments over development projects, as it works with Access Economics to reach its 4 per cent strategic infrastructure allocation some time next year.
The chief executive of State Super, Don McLean, said State Super’s liability profile was better suited to “;cashflow generating businesses”;, and that there was too much money chasing scarce development infrastructure deals. State Super employed Access Economics as a specialist infrastructure consultant and implementor earlier this year, shortly after it retained Frontier Investment Consulting as a general asset advisor. However, McLean said Access had only just begun receiving monies to allocate. It will do this through direct deals. Meanwhile, the board is also considering an entry to the global listed infrastructure asset class.
12 December 2006 00:00
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