Australian alt asset manager Morrison & Co makes $3b first close of new infra fund

Gordon Hay, head of Core Infrastructure Funds at Morrison & Co.

Morrison & Co, a specialist alternative asset manager headquartered in Australia, has hit the first close of its latest open-ended global infrastructure fund with more than $3 billion in commitments and co-investment capital from anchor investors.

In a statement, the firm said the new fund, Morrison & Co Infrastructure Partnership (MCO IP), has a global investment mandate, targeting assets in North America, the United Kingdom, Europe, Australia, and New Zealand. It focuses on the energy sector, other utilities, and data infrastructure.

The firm added that the fund aims to provide investors with access to major global themes with multi-decade growth opportunities, including the energy transition decarbonisation, climate change, and digitisation of the global economy.

The fund has an objective to provide investors with an 8-10% annual gross USD return, and will take a responsible investment approach, aiming to be carbon neutral by 2050, as per the announcement.

“We are seeing a continued evolution in the infrastructure market globally, and as an asset class it continues to offer great benefits to investors,” said Gordon Hay, head of Core Infrastructure Funds at Morrison & Co.

The first close of MCO IP comes 15 months after the firm reached the final close of Morrison & Growth Infrastructure Fund with a total fund size of approximately $415 million. The said fund focuses on water, energy, and sustainable agricultural assets.

Infrastructure is becoming a more attractive asset class after showing resilience during the pandemic as interest rates stayed low, helping prompt an acceleration in demand from investors, said Nicole Walker, the firm’s chief commercial officer.

Morrison & Co, established in 1988, manages multiple client mandates with total funds under management of approximately $16 billion as of September 1, 2021. It invests on behalf of sovereign wealth funds, pensions funds, and other public and private pool capital.

Last month, Queensland Investment Corporation (QIC), one of Australia’s largest investment managers, announced raising about $750 million for the sidecar fund of its latest infrastructure vehicle, QIC Global Infrastructure Fund.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.