TWU Super, Melbourne, Australia, hired Lazard to manage A$55 million (US$42.86 million) in the fund's first global infrastructure mandate and shortlisted two managers for its first global tactical asset allocation mandate. The A$1.9 billion fund for transport industry workers has a total allocation of 8% to infrastructure but has found it difficult to place its year-old international infrastructure allocation of 3%. "That partly reflects the fact that it is difficult to get exposure to infrastructure quickly," said CIO Andrew Killen.
TWU Super officials hope to choose a manager for an A$60 million global TAA mandate by year's end. Mr. Killen would not disclose the names of the managers under consideration.
