Sunsuper is making good on its preference for infrastructure debt over equity, awarding A$100 million (US$94.8 million) to Westbourne Capital.
David Hartley, chief investment officer of the A$16 billion fund, said Westbourne will need to seek approval for certain infrastructure debt investments, in cases where they might conflict with Sunsuper holdings on the equity side of deals.
Sources said a Sunsuper investment committee meeting might have reduced the strategic asset allocation to infrastructure to 5% from 7.5%; however, Mr. Hartley said whether it had or not was a “moot point,” because the Brisbane, Australia-based fund was underweight its strategic allocations in all the unlisted asset classes.
Michael Bailey is editor of I&T News in Sydney.
