AustralianSuper has launched a $NZ5.4 billion ($5.1 billion) takeover bid for Infratil, a day after the listed New Zealand energy and transport infrastructure company put its majority stake in wind farm owner Tilt Renewables under review.

If Infratil's board accepts the offer, the $180 billion superannuation giant would delist the firm and run it as a private company, a practice increasingly popular among mega-funds especially in the infrastructure sector.