$24b AirTrunk data centre deal shows AI trend turning to private markets

Robin Khuda, founder and chief executive of AirTrunk, has been announced as a speaker at the Investment Magazine Fiduciary Investors Symposium in Healesville, taking institutional asset owners behind the $24 billion acquisition of the storied Australian data centre operator by Blackstone and Canada Pension Plan Investment Board. The blockbuster deal is a sign of how the market narrative around AI is shifting from hyped public markets to private and fiduciary ownership.

High cost, low growth funds need ‘credible’ plans to survive: APRA

Some funds experiencing weaker growth and operational inefficiency “often do not appear to be in a position” to improve their outlook, according to the prudential regulator. While specific funds weren’t named and shamed, APRA put a handful on notice to provide clear evidence they’ll lift their game.

ASIC pushed back against RG97 changes before review

ASIC expressed reservations about changing RG97 to provide relief from stamp duty disclosure obligations prior to committing to a review, according to internal documents released to Investment Magazine under freedom of information laws. The corporate regulator also told Treasurer Jim Chalmers it will also reduce its data collection efforts and streamline the Financial Accountability Regime to make it less “burdensome”.

How AustralianSuper is helping to close the US infrastructure gap

The size of the current infrastructure investment gap and the speed at which it is widening mean there is both a desire and a need for more public-private partnerships to unlock funding. Investors say that collaboration with local governments and raising public awareness of private investment benefits are crucial. 

Super fund trustee agrees to landmark deal to remediate Shield clients

Macquarie will purchase the holdings of Shield clients on its superannuation platform, returning millions of dollars to investors, and will aim to claw back what it can from liquidators but foot the remainder of the compensation bill itself. But whether other trustees will be as proactive as Macquarie remains to be seen, with Equity Trustees seemingly unlikely to budge on its position that it fulfilled its fiduciary duties.

Life in the old dogs: why ditching legacy systems is not always the IT answer

Legacy IT systems get a bad rap, often being blamed for holding super funds back on efficiency and service delivery. If they’re well-maintained, legacy systems can continue to work for years after their presumed use-by date, but because they’re not shiny and new they often get neglected.