Cbus takes stake in UK ports
11 October 2018
Cbus, Australia’s leading building and construction industry superfund, today announced its first direct offshore infrastructure investment taking a stake in UK ports group, Forth Ports, investing alongside like-minded global pension fund partners, including PSP, First State Super and GLIL.
Cbus CEO David Atkin said the fund is pleased to join with large global pension funds as long-term shareholders in the operations of some of the UK’s largest and busiest ports.
“Forth Ports has a proven track record of strong performance and high growth, with a strong management team that shares Cbus values of responsible, long-term and sustainable practice, it is an expanding ports operator with long term value underpinned by freehold title to all ports,” Mr Atkin said.
“Cbus has a proud history of infrastructure investment in Australia and with this partnership we now hold stakes in ports from Sydney to Edinburgh.”
“We have over $4.5 billion invested in infrastructure in Australia, the US, the UK and other OCED countries, and this diverse portfolio is integral to our success in delivering resilient long-term returns to our members,” Mr Atkin said.
Cbus Head of Infrastructure Diana Callebaut said the investment demonstrates the fund’s willingness to pursue opportunities with aligned management and like-minded investment partners.
“Cbus is always focused on how we deliver strong returns to members and our direct investment in infrastructure assets like Forth Ports aligns with the fund’s long-term outlook, offering a strong pipeline of growth opportunities and aligning with our strategic approach to responsible investment”, said Ms Callebaut.
Forth Ports is a dynamic, UK-based multimodal ports owner and operator, with ports serving as logistical gateways across the UK, connecting the UK with Europe and the rest of the world.
It owns and operates eight commercial ports on the Firth of Forth, the Firth of Tay and the Thames, with strategic positions in Tilbury (London), Grangemouth and Dundee.
Tilbury is the site of a major new port terminal, Tilbury 2, while the Port of Dundee is the site of the growing offshore wind and North Sea oil decommissioning industries.