Asset owners and money managers including Brisbane, Australia-based QIC have made direct investments of more than $1 billion in sustainable energy financing company Generate Capital Inc., according to news releases from Generate Capital and QIC.
The QIC investment is through its QIC Global Infrastructure fund, and Ross Israel, head of QIC Global Infrastructure, will join Generate Capital's board of directors, according to the QIC news release.
"Our thematic-based investment strategy has highlighted strengthening trends over many years in infrastructure decentralization and sustainability, particularly in North American markets," said Mr. Israel in the news release. "We are delighted to partner with Generate, whose customer-centric business model, depth of sector expertise, and pioneering vision position it uniquely as a leading infrastructure platform to harness these trends."
Other investors include AustralianSuper, that nation's largest investment fund with over A$170 billion ($115.2 billion) in assets, the 367.4 billion Swedish kroner ($38.3 billion) AP2, Gothenburg, Sweden, and the £28 billion ($36.6 billion) Railways Pension Scheme, London, according to the Generate Capital News release.
The amounts of individual investments were not disclosed.
A spokeswoman for Generate Capital could not be immediately reached to provide further information.