Cbus, one of Australia’s largest superannuation funds, is planning to increase its infrastructure allocation, funneling an extra $1 billion into projects in Australia and around the globe, according to media sources.
The construction sector fund is looking to boost its allocation to 13 percent, up from its current 11 percent.
“The economic outlook is not favorable,” said Diane Callebaut, Cbus’s head of infrastructure at a conference at Parliament House in Canberra. “While not a panacea for the current environment, infrastructure will play an important role in ensuring our member’s returns are more resilient.”
In April 2018, Cbus made its first direct infrastructure investment with the purchase of an 80 percent equity stake in Bright Energy Investments alongside Synergy, with the Western Australian Government holding the remaining 20 percent.
The asset consists of a portfolio of wind and solar energy assets, with a pipeline of new renewable assets to be developed in Western Australia, according to Cbus.
