Australian superannuation fund UniSuper has committed up to US$400m (€374m) to Macquarie Asset Management’s open-ended global green energy fund.
UniSuper’s chief investment officer, John Pearce said UniSuper was a significant investor of the Macquarie Green Energy and Climate Opportunities Fund (MGECO) and would be investing alongside Macquarie’s balance sheet.
“This is an investment of scale and quality with a pipeline of opportunities helping to accelerate the transition to net zero. It will enable UniSuper to invest across technologies and geographies in projects that we believe will generate attractive long term returns for our members.”
Pearce said the investment supports UniSuper’s strategy to develop smart partnerships with high quality, aligned managers to complement our in-house investment capability.
MGECO invests in large scale, mature sustainable technologies to support the transition to net zero and help meet sustainable energy needs in Australia and overseas.
The fund’s initial seed portfolio is expected to include the recently announced acquisition of a global portfolio of six solar, wind, storage, and natural climate solutions investments across Australia, Asia, US and Europe.
The investments include Aula Energy, an onshore renewable energy business that plans to develop, build, and operate utility-scale wind, solar and integrated battery projects across the Australian and New Zealand markets.
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