AustralianSuper Looking Offshore for Multi-Billion Deals

AustralianSuper boss Ian Silk says the $200 billion superannuation fund is a ready to pounce on any prospective multi-billion dollar deal, even as its $5.1 billion bid for New Zealand infrastructure company Infratil falls by the wayside.

The country’s largest super fund placed a bid on Tuesday for dual-listed Infratil, which owns renewable energy and other infrastructure assets across the ditch. However, the offer was promptly knocked back by Infratil, which said the unsolicited bid had “significant deficiencies” and under-valued the company.

Mr Silk would not comment on the negotiations and with no further engagement with Infratil on the cards, AustralianSuper is already looking to cast its net globally in pursuit of another investment opportunity of that size. Read more…..


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