New Indigenous Infrastructure Investment Fund announced
Perpetual Corporate Trust has been appointed as the custodian and wholesale trustee for Impact Investment Partners’ new Indigenous Infrastructure Investment Fund (IIIF; the Fund).
The Fund is a private wholesale trust open to all wholesale investors, targeting to have total investments of $500 million over five years and across 15-20 direct investments. The Fund is also aiming for 50% Indigenous investor ownership over time.
IIIF provides investors with the opportunity for stable, longterm market-based financial returns through the investment in an unlisted portfolio of high-quality infrastructure and social infrastructure assets in Australia, that deliver social and economic impact for Indigenous communities.
Perpetual Corporate Trust General Manager, Glen Dogan, said: “We are seeing a growing interest in social impact funds. The Indigenous Infrastructure Investment Fund is the first Indigenous focused fund for Perpetual Corporate Trust and we are delighted to be part of this investment opportunity.
“At Perpetual, we have a history of supporting the Indigenous community, most notably within our Perpetual Private business. We see the social benefit of the Fund as it looks to address infrastructure gaps, deliver market-based financial returns and social and economic impact to Indigenous communities.”
Utilising an investment fund to invest in Indigenous infrastructure mobilises additional non-government capital to fund essential and social infrastructure while providing a mechanism for large scale redeployment of Indigenous capital.
Impact Investment Partners Managing Director, Chris Croker, a Luritja man from Central Australia, said: “The launch of the Fund is an important step towards increasing Indigenous direct economic engagement through employment, procurement and leasing from Indigenous landholders. The Indigenous Infrastructure Investment Fund will be a trusted investment vehicle for long-term investments that align the interests of financial investors, private developers and Indigenous communities.
Fund Director, Janice Morris, has extensive industry experience and was previously an Executive Director at IFM Investors within the Infrastructure team.
“Perpetual Corporate Trust is one of the leading providers within custody and wholesale trustee services. We have been impressed with their capability and expertise in this area, especially during a time when the industry landscape is evolving,” said Morris.
“We value Perpetual’s longstanding trustee heritage and its commitment to Indigenous businesses and communities – we couldn’t have chosen a better partner.”