Canada Ploughs Billions into Oz Projects


Canadian Investors have spent a record US$25 billion in acquisitions in 2015 in a bid to purchase Australia’s assets, according to Bloomberg.

The assets were sold in a bid to significantly improve on Australia’s infrastructure, including railways and roads.

The initiative has been driven by Malcolm Turnbull, Prime Minister of Australia in order to fund new projects.

Ron Mock, CEO of the Ontario Teachers’ Pension Plan, said: “We’re there to invest in infrastructure, and they are the model. They’ve figured out how to attract capital from all over the world.”

Mark Machin, International Head for Canada Pension Plan, said: “Australia is a market that is about as similar to Canada as you can get it’s a very easy market for us to feel very comfortable in.”

Macky Tall, Senior Vice President of Infrastructure Investments of pension fund Caisse, said: “Australia’s economy and government are in healthy condition. The Australia market has been one of the deepest markets in not only public-private partnerships projects, but also a number of major privatisations.”

Out of Canada Pension Plan’s total assets, 2.4% has been invested in Australia, which is equal to US$4.8 billion.

PTI previously reported that Infrastructure company Brookfield had made an offer of $8.8 billion to acquire Australian port and logistics company Asciano.

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