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Infrastructure assets by nature have significant barriers to entry and dominant, almost monopolistic market positions. The sector usually requires high levels of capital investment and delivers stable, attractive yields and capital growth over long life spans. Infrastructure assets are also characterised by lower volatility and generally have a low correlation to movements in traditional asset classes and market cycles. They provide valuable portfolio diversification however, they are all but inaccessible to an individual investor.
Our investment in infrastructure is in a sector we define as Growth Infrastructure – a class of infrastructure assets leveraged to key macro trends in play across Australia and globally, while still offering the positive characteristics of traditional infrastructure assets.
Prime Value Growth Infrastructure Fund investment themes:
To bring this investment to our clients we are partnering with Morrison & Co., one of the world’s leading infrastructure asset managers.
To provide investors with an opportunity to invest in a diversified portfolio of unlisted infrastructure assets offering a very attractive risk/return profile.
Morrison & Co., our partner for infrastructure, was similarly founded as a family company over 30 years ago and it is now one of the world’s longest-standing infrastructure asset managers, managing consolidated assets of over A$16 billion on behalf of sovereign wealth funds, institutional clients, family offices and other public and private pools of capital. They have deep sector knowledge, strong operational expertise and a long history of superior risk-adjusted returns. They have a fundamental focus on sustainability and building assets for the future. They also share our approach to high conviction investing and are aligned with our core investment philosophies.
They manage a number of key mandates for the Australian Government, the New Zealand public sector and private funds including the New Zealand Superannuation Fund, the Commonwealth Superannuation Fund and the Australian Government Future Fund.
James has worked with Prime Value since August 2016 co-developing our expansion into Agriculture, Infrastructure and Structured Products. James is a director of his own consulting company advising on forensic accounting, funds management, alternative investments and portfolio management for family offices. James has 30 years’ experience in resources and financial markets across corporate treasury, investment banking, and private wealth management. James is based in Bendigo and has previously held Treasury positions with Normandy Mining and WMC Ltd and also held senior investment banking roles with Standard Chartered Bank (Mocatta) and Morgan Stanley (Singapore) specialising in metals sales and trading.
Elizabeth has worked with Prime Value since August 2016 co-developing our expansion into Agriculture, Infrastructure and Structured Products. Her career has spanned 27 years in financial markets across commodities, banking, resource finance, corporate advisory, and private wealth portfolio management. She has worked both domestically and internationally and has held senior roles within the commodity divisions of the Commonwealth Bank, Mitsui, Bank of Nova Scotia and Dresdner. Elizabeth brings extensive commodity risk management, analysis, structuring, and advisory experience to the team as well as a strong focus on environmental and social responsibility.
To provide a strong diversification opportunity and deliver superior returns from an asset class less correlated to traditional markets
We aim to deliver returns of 12%+ p.a. through a combination of yield and capital gain, with an emphasis toward capital gains from asset sales. Distributions of 2-5% per annum are expected once investment capital is fully deployed.
The Fund invests in the Morrison & Co. Growth Infrastructure Fund giving our clients unique access to a portfolio of premium, unlisted growth infrastructure assets reserved solely for large institutional investors.
The Fund will hold diversified infrastructure assets and investors will be exposed to key secular global trends. The Fund expects to invest in 7-10 assets and once fully invested will hold a maximum of 20% exposure to a single asset. Investment assets are Australian focussed with up to 25% in non-Australian OECD developed markets.
If you would like to receive a copy of the Information Memorandum or discuss our growth infrastructure investment opportunity please contact James Everist or Elizabeth Blackhurst on (03) 9098 8088.
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Prime Value has been co-investing with its investors since 1998. Building wealth together.
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