The $1.6 billion industry fund BUSS(Q) is finally getting close to its infrastructure target allocation following a new appointment.
BUSS(Q) awarded a $30 million mandate to the ANZ Energy Infrastructure Trust in February. David O’Sullivan, chief executive at BUSS(Q), said the fund had been progressively increasing its infrastructure allocation over the past few years. The benchmark was raised from 9 to 11 per cent 18 months ago, but the fund is yet to reach that target. “;We’ve been chasing our benchmark weight for a while – Australian infrastructure assets have been highly contested and overpriced. “;ANZ have gained access to a lot of clean energy deals without much competition, and we see a good potential for upside with its carbon credits.”; BUSS(Q)’s main exposure to infrastructure over the past 10 years has been through Private Capital Group. The fund made commitments to Macquarie Global Infrastructure Fund No. 3 and Industry Funds Management 12 months ago, but due to the queue of investors, Macquarie has only recently begun to draw down on BUSS(Q)’s commitment, while IFM is yet to touch it.
Asset owners that have set emission reduction targets face the onerous task of collecting and aggregating emissions data for every asset they own, and the challenge has been particularly complex for unlisted assets. Aware Super head of responsible investment Liza McDonald says working with the provider of the infrastructure that connects asset owners to asset managers and underlying assets has been “a brilliant step”.
Simon HoyleMay 12, 2025
