Who we are
Ownership StructureSDP is jointly owned by the Ontario Teachers’ Pension Plan Board, The Infrastructure Fund (TIF) and Utilities Trust of Australia (UTA). Hastings Funds Management Ltd manages UTA's and TIF's share in SDP.
The relevant Hastings managed entities that own Sydney Desalination Plant are the Utilities Trust of Australia (UTA) and The Infrastructure Fund (TIF). Both UTA and TIF seek to take influential positions in global infrastructure projects. UTA currently has a portfolio of 12 assets across Australia, UK, and USA and has a Net Asset Value of A$3.8 billion (as at 31 December 2014). The independent trustee Board of UTA provides oversight and governance and predominantly comprises unit-holder nominated Directors. TIF currently has a portfolio of 12 assets across Australia and USA and has a Net Asset Value of A$1.6 billion (as at 31 December 2014). The Private Capital Group is a unit-holder representative Board, providing oversight and governance for TIF. Both funds have been large investors in infrastructure projects and privatisations in Australia, investing on behalf of institutional investors and corporate and industry superannuation funds.
In the water sector specifically, Hastings manages interests in South East Water a regulated water asset in the UK. Hastings also has a strong understanding of Australian regulatory regimes through its interest in ElectraNet (the South Australian electricity transmission network). Additionally, Hastings has enjoyed a collaborative relationship with the NSW Government with regard to its management of interests in a number of NSW infrastructure assets, including Interlink (the M5 Motorway) and Port of Newcastle.
For more information please visit the Hastings website.
Ontario Teachers' Pension Plan Board
Ontario Teachers’ is Canada’s largest single-profession pension plan with C$171.4 billion in net assets as of 31 December 2015. It pays pensions and invests plan assets on behalf of 316,000 working and retired teachers. Since its establishment as an independent organization in 1990, Ontario Teachers’ has built an international reputation for innovation and leadership in investment management and member services. It invests across five major asset classes comprised of public equities, fixed income, private capital, infrastructure and natural resources, and real estate and has achieved a long-term average rate of return of 10.3%, consistent with its goal to earn the best possible returns, at an appropriate level of risk, to pay pensions to its members.
Ontario Teachers’ has a dedicated Infrastructure and Natural Resources Group (“INR”) with managed assets valued at approximately C$22 billion that includes regulated utilities, high-speed rail, airports, port facilities, power generation, timberland, agriculture, oil & gas, and mining. The group’s active governance approach aims to create sustainable long-term value in its portfolio companies, while enriching the communities its assets serve.
For more information please visit Ontario Teachers’ Pension Plan Board website.