Sydney, Australia: Morrison announces the successful third and final close of the Morrison & Co Growth Infrastructure Fund ("MGIF"), raising capital to invest in infrastructure delivering essential services that support future economic activity.
The interest from investors reflects increasing demand for resilient infrastructure required for future growth.
This final close for MGIF, which attracted both new and existing investors, has brought the total fund size to approx. A$580 million. Morrison & Co has identified an attractive pipeline of investments for the MGIF portfolio to help upgrade and build businesses that address fundamental societal needs for the future.
MGIF takes a long-term perspective of investments, focusing on the fundamental value of essential infrastructure services, and targets gross returns of 13-15% per annum.
In keeping with its purpose statement, 'to invest wisely in ideas that matter', Morrison & Co has secured initial investments for MGIF that reflect emerging trends in infrastructure, including water, energy and sustainable agricultural assets.
"We are delighted to have achieved this successful outcome, and to have introduced new investors to the experience and calibre of our high performing team. We had a good mix of capital raised from both new and existing Morrison & Co investors, highlighting our ability to build positive long-term relationships with our partners." said Nicole Walker, Morrison & Co's Chief Commercial Officer.
CEFC Executive Director Rory Lonergan said, "As a cornerstone investor in MGIF, the CEFC has direct experience of Morrison & Co’s strong investment track record. MGIF works closely with its portfolio of businesses to enhance operational performance and achieve strong, sustainable outcomes for these investments."
David Macri, Chief Investment Officer at Australian Ethical, said, "Australian Ethical invests in opportunities that we believe are of a long-term benefit to society and deliver strong returns, like our cornerstone investment in MGIF. We are pleased to provide further support to MGIF in its final close and its continuing investment in infrastructure and other projects that will foster economic and climate resilience with sustainable outcomes for everyone."
About Morrison
Morrison is a purpose-driven infrastructure investor, founded on the 8th of August 1988, which invests wisely in ideas that matter. It manages multiple client mandates with total funds under management of approx. A$15 billion as at 30 June 2020. Morrison & Co is a pioneer in innovative infrastructure investing, supporting businesses that help enhance the lives of local communities. It invests on behalf of sovereign wealth funds, pension funds, family offices, endowments and other public and private pools of capital. Morrison & Co's investment mandates are tailored to each client and variously cover private and listed markets, equity and debt, and asset-specific management relationships. Morrison & Co is set apart by a management style that integrates deep industry specialisation with financial and transactional expertise.
About Morrison & Co Growth Infrastructure Fund
MGIF is a closed-ended unlisted infrastructure fund, investing in businesses that have long-term growth profiles. MGIF’s investments reflect Morrison & Co’s deep conviction and experience as a manager, in identifying and understanding emerging trends in infrastructure and essential services. These defined themes, which include decarbonisation, renewable energy and data connectivity, align closely with the UN’s Sustainable Development Goals. MGIF has an allocation commitment of at least 75% in Australia. Its current assets include a South Australian integrated energy, water and greenhouse facility; a community-based water and electricity infrastructure network provider in eastern Australia and a recently formed renewable energy platform headquartered in Europe focused on wind, solar and photovoltaic energy solutions.