Investment powerhouses, including Rest, TelstraSuper, and KLP, have joined forces in a £3 billion campaign for infrastructure funding.
In a significant move towards sustainable investments, the A$75bn superannuation fund Rest has committed a total of A$1bn to Quinbrook, a global infrastructure and renewable energy fund. This marks Rest's largest fund closing to date.
Quinbrook, known for its investments in renewable energy projects, has recently made investments in several key companies. These include data centre operator Rowan Digital Infrastructure, US solar developer Primergy Solar, and the Supernode Storage Project, a battery energy storage system.
The investment by TelstraSuper, another significant player in the Australian superannuation industry, was confirmed earlier this month. Although the exact amount invested by TelstraSuper was not disclosed, it is a significant contribution to Quinbrook's fund.
Graeme Miller, the CIO of Quinbrook, expressed his excitement about the investment, stating that it aligns with TelstraSuper's goal to invest 1% of their investment portfolio in climate-change focused opportunities by 2025. Miller also highlighted the need for sustainable data centres to support the flow of data globally, given the expected acceleration of AI adoption.
This latest investment brings the total capital raised for Quinbrook's Net Zero Power Fund to £4.3bn. The fund has already invested and committed more than half of the total capital committed to date across the existing portfolio. Quinbrook expects to be fully committed within the next 12 months.
The fund has attracted new institutional investors from various parts of the world, including the US, Canada, Australia, UK, Sweden, Norway, Finland, and the EU. This global support underscores the growing importance of renewable energy and sustainable infrastructure in the global economy's energy transition.
Jim McArdle, the CIO of TelstraSuper, has stated that this investment is in line with their long-term strategy to invest in companies that contribute positively to society and the environment.
With these investments, Quinbrook continues to play a crucial role in the global energy transition, supporting the growth of renewable energy projects and sustainable infrastructure.
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