QIC launches infrastructure fund
The Queensland Investment Company (QIC) has launched an infrastructure fund that will seek investment opportunities globally.
Ross Israel, former chief operating officer of the Diversified Utility and Energy Trust at AMP, has been appointed to manage the fund, which has received an initial large capital allocation from an existing QIC client.
The fund will invest in a diversified portfolio of assets across infrastructure sectors, without a bias to any particular sector.
According to QIC chair Trevor Rowe, the infrastructure fund will “represent a new direction and increased capability within QIC”.
He added: “It is a perfect complement to our existing asset classes and closely follows the recruitment of Marcus Simpson from the US to head the recently launched QIC Private Equity Fund.”
QIC is currently the fourth largest wholesale funds manager in Australia with $45 billion under management for Australian and overseas clients.
Recommended for you
A former Victorian financial adviser has been sentenced after stealing $4.4 million from clients, family and friends to feed his “raging gambling addiction”.
Advice licensee Centrepoint Alliance has acquired the financial advice book of superannuation fund Brighter Super and will become the preferred partner to provide advice to its members.
The association has expressed its support for the Opposition’s commitment to making financial advice a “national priority”, alongside its bold target of reaching 30,000 advisers.
Australian investors are increasingly turning to financial advisers as their top source of information, with more than a third using them for investment guidance.
