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AustralianSuper commits to £8 billion injection into UK portfolio

Yasmine Masi6 March 2024
UK pounds floating

AustralianSuper has announced a further £8 billion investment into its United Kingdom portfolio to exceed more than £18 billion by 2030.

This additional capital has been pledged to long-term opportunities in sectors including energy transition, digital infrastructure, mixed-use estates and transport/logistics, adding to the fund’s existing interests in the Canada Water urban regeneration project, London’s King’s Cross Estate, Peel Ports Group and Vantage Data Centers (EMEA).

“We have developed a close and supportive relationship with UK government departments focusing on opportunities that can deliver strong, long-term returns for AustralianSuper members, as well as contributing to the UK’s economic growth and prosperity,” Paul Schroder, AustralianSuper chief executive, said.

“Since opening our London office in 2016, we have also built strong partnerships with like-minded industry leaders and capital providers, especially in real assets such as property and infrastructure. These relationships reflect our approach to direct investing and value creation during ownership, where we’re focused on effective stewardship to generate sustainable returns for more than 3.3 million members.

“Despite ongoing global economic uncertainty, the UK remains an attractive destination for global investors like AustralianSuper which is evidenced by our forecast £8 billion commitment to the market over the rest of this decade.”

AustralianSuper already has 100 local team members positioned out of its Kings Cross base in London and expects to have 300 team members by 2030 managing its UK and European portfolio across real assets, private credit, fixed income and global equities.

“Foreign investment is not just about numbers on a spreadsheet. It creates jobs, nurtures skills and unleashes our nation’s innovative spirit. That’s why the UK’s recent trade deal with Australia prioritised boosting investment flows,” Lord Johnson of Lainston CBE, the UK Minister for Investment, said.

“AustralianSuper’s ongoing commitment shows the strong relationship we have built as they create a global centre of excellence in London. We are a top choice for major investments like this, and the Government is committed to promoting the opportunities available to global investors so they choose the UK.”

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