One of Australia’s top-performing pension funds, Aware Super, has announced at today’s Global Investment Summit it will direct a $A10 billion (£5.25 billion) investment commitment in the UK and Europe through its newly established London office.
With $A160 billion (£83.2 billion) of assets under management, Aware Super has ambitions to grow to $A250 billion (£130 billion), with international expansion into the UK a key strategy aimed at achieving that goal. Currently, the fund has $A17 billion (£8.84 billion) invested in the UK and Europe.
The fund officially opened its first international office in London this week.
It aims to initially focus its further direct investments from its new UK headquarters in real estate, infrastructure and private equity, with an emphasis on the energy transition sector, affordable housing, innovation, life sciences, technology and the digital infrastructure sector.
In April, Aware Super – already a pioneer in the key-worker affordable housing and the private rented sector in Australia with a $A1.5 billion commitment to fuel a 2000-apartment pipeline – entered the UK residential property market with a 22 per cent stake in Get Living, the country’s leading developer and operator of large-scale, build-to-rent neighbourhoods.
It also holds an extensive infrastructure and private equity portfolio in the UK, including investments such as Forth Ports and Miller Insurance Services.
Aware Super Chief Executive Officer Deanne Stewart said: “We are thrilled to announce our commitment to the UK, one of the world’s most important and vibrant capital markets, with the opening of our first international office.