AustralianSuper members will soon own a stake in the WestConnex motorway project, a major piece of NSW infrastructure.
AustralianSuper is part of the Australian-controlled consortium, Sydney Transport Partners, which recently won the bid for 51 per cent ownership of WestConnex.
WestConnex is the largest road infrastructure project underway in Australia, and is one of the single largest investments we’ve made on behalf of members.
AustralianSuper Chief Investment Officer, Mark Delaney, said the deal will boost economic growth and employ thousands of workers while providing returns that will contribute to the long term retirement savings of members.
‘This is a great result for AustralianSuper’s more than two million members, of which over 600,000 are New South Wales based. It also represents a major investment in critical infrastructure, to the long-term benefit of the broader NSW community,’ Mr Delaney said.
WestConnex will fund a range of improvements to Sydney’s road transport network, including road widening, extending the M4 motorway and connecting the M4 and M5 to provide a western bypass of the Sydney CBD. A large part of the network will be in underground motorway tunnels, and the project will also deliver more than 18 hectares of new recreational green space for local communities.
AustralianSuper is a significant global investor, managing more than $140 billion on behalf of members. A big advantage of AustralianSuper’s size is that it can partner with major investors to acquire large, high quality assets on behalf of members.
We’ve been investing in infrastructure assets for more than 20 years with a current portfolio valued in excess of $13 billion. Since 2012, we’ve been expanding our in-house capability and investing more directly. During this time, AustralianSuper members have become part-owners of core infrastructure assets like Ausgrid, NSW Ports and Queensland Motorways (now Transurban Queensland).
Infrastructure assets play an important role in a diversified portfolio as they can provide steady investment returns across economic cycles. AustralianSuper members can gain exposure to infrastructure assets through the Balanced, High Growth, Conservative Balanced, Capital Stable and Socially Aware PreMixed options.
AustralianSuper members that have an exposure to infrastructure assets, including the WestConnex motorway project, are those in the Balanced, High Growth, Conservative Balanced, Capital Stable and Socially Aware PreMixed options.