Aussies commit further £8bn to UK
Australia’s biggest pension fund, AustralianSuper, plans to invest a further £8bn into the UK.
The new investment will take its total spending in the country to more than £18bn before the end of the decade.
Chancellor Jeremy Hunt said: “This major investment from AustralianSuper will promote growth and strengthen the UK’s position as a leading financial centre, creating wealth and helping to fund public services.
Australia’s biggest pension fund, AustralianSuper, plans to invest a further £8bn into the UK.
The new investment will take its total spending in the country to more than £18bn before the end of the decade.
Chancellor Jeremy Hunt said: “This major investment from AustralianSuper will promote growth and strengthen the UK’s position as a leading financial centre, creating wealth and helping to fund public services.
“Britain continues to be Europe’s leading hub for investment, and it is through commitments like this that we will funnel billions into our brightest, burgeoning businesses to scale up and grow.”
AustralianSuper has been active in the UK since 2016, with around £8bn invested directly in the UK and some £2.5bn UK listed equities. It said it was on track to deploy more than £8bn of new capital by 2030 into large-scale, long-term investment opportunities in the country.
The pension fund’s investments include real estate assets such as its joint venture with British Land at Canada Water, London’s King’s Cross development, plus Heathrow Airport and Peel Ports.
Minister for investment Lord Dominic Johnston said: “AustralianSuper’s ongoing commitment shows the strong relationship we have built as they create a global centre of excellence in London. We are a top choice for major investments like this, and the government is committed to promoting the opportunities available to global investors so they choose the UK.”
Image © Hawkins\Brown
