Daniel Kemp

Nuveen Real Estate has held a second close for the fund on around A$650m following the investment, with a final close due this year.

Australian superfund Aware Super is one of the largest domestic players in the asset class Down Under – and continues to deploy capital through GPs overseas.

APRA said that superfund trustees ‘have work to do’ to improve their processes, with enforcement action possible for underperformers.

APRA will soon publish a review into how superfunds value unlisted assets, with ASIC supporting the work as it considers systemic risk to the wider financial system.

QIC Infrastructure Debt Fund II is a 10-year closed-end fund aiming to hold a first close before the end of 2024.

The Australian superfund-owned managers would combine infra and property expertise, but stakeholders say they have distinct governance arrangements that will be hard to reconcile.

Ares and AMP Ltd will form a new joint venture covering AMP Capital’s private markets businesses, including infra and real estate, with Ares assuming management control.

Oxley Capital Partners founder Ben Craw says new opportunities are emerging as covid-19 disruption plays out.

Changes to financial hardship provisions have seen members affected by covid-19 withdraw significant sums, with the largest funds and those with membership cohorts in struggling industries the hardest-hit.

The 6% annual returns JPMorgan AM predicts infrastructure equity will generate over the next decade, will ‘offset a lot of the pain that will at some point come’.