Australia’s sovereign wealth fund Future Fund is leaning into further investment Down Under and is in advanced talks to take a stake in NSW electricity transmission company Transgrid, Street Talk can reveal.
It is understood Future Fund will snaffle a portion of the $C138.2 billion ($152 billion) Canadian pension giant OMERS’ stake in the asset. OMERS is advised by Barrenjoey Capital Partners and Future Fund is taking its counsel from JPMorgan. It’s expected to sign as early as this week and is subject to pre-emption rights over the stake being waived, sources said.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
