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IFM Investors looks to spend $24b on greenfield projects in Australia
Investors - AUGUST 15, 2019

IFM Investors looks to spend $24b on greenfield projects in Australia

by Kali Persall

IFM Investors is eyeing greenfield projects in an effort to double its infrastructure investments in Australia to $24 billion over the next 10 years, reported Financial Review.

IFM Investors, which manages $140 billion in global assets, noted a new audit report that revealed Australia will need to spend A$600 billion ($406 billion) on infrastructure over the next 15 years in order to counter demand caused by population growth in its four major cities.

The Australian firm, which closed on $420 million for two different infrastructure debt funds in Korea, said it could help fund a portion of the developments required in Australia.

IFM is owned by 27 industry superannuation funds, according to the Financial Times. Its current Australian infrastructure portfolio, which includes airports, ports and an electricity distribution company, is valued at $12 billion.

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