Future Fund's toll road deal shows desire for more local currency plays
This is the fund’s first direct investment in an Australian toll road, but indications are that it won’t be the last.
Australia’s Future Fund has acquired a domestic toll road asset from the New Zealand Super Fund in a shift of ownership from one Pacific sovereign wealth fund to another.
NZ Super and Teachers Insurance sold the stake in the state of Victoria’s largest toll road network for an undisclosed sum.
The Future Fund has a long track record of direct investments in Australian infrastructure, and holds significant interests in some of Australia’s largest transport assets.
But this is t…
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