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).
The relevant entities that have ownership in the Sydney Desalination Plant are the Ontario Teachers' Pension Plan, Utilities Trust of Australia (UTA) and The Infrastructure Fund (TIF).
Utilities Trust of Australia (“UTA”) is an open-ended core infrastructure fund for institutional investors with a long-term investment horizon and a low-to-moderate appetite for risk. UTA has a globally diversified portfolio of quality assets and a track record of delivering strong returns with low volatility over time.
UTA was established in 1994 and is one of Australia’s first infrastructure investment funds. As at 30 June 2018, UTA had more than $6 billion in assets under management, including invested capital and undrawn commitments. UTA is managed by Morrison & Co Utilities Management (Australia) Pty Ltd (ABN 66 624 308 809) ("Manager"). UTA provides global investors with an established and diversified infrastructure portfolio.
The portfolio has been constructed to protect against inflation, deliver strong cash yields and have low volatility. The open-ended nature of the Fund allows the UTA Trustee to take a long-term view and the Manager to actively manage the assets to enhance value over time.
UTA is focused on investing in infrastructure assets globally and has outperformed its benchmark since inception, delivering a net return of 11.58% per annum across 24 years to 30 June 2018.
Morrison & Co took over as Manager on 1 July 2018 from Hastings Fund Management.
The Infrastructure Fund (TIF) is a wholesale investment fund that invests in a diversified portfolio of unlisted infrastructure assets in Australia and overseas.
TIF was established in June 1998 with the support of Gardior’s founding shareholders and investors. The fund commenced with a single asset (Gold Coast Airport) in 1998 and has progressively grown into a diversified portfolio of Infrastructure investments.
Gardior Pty Ltd (ABN 71076835955, AFSL 320173) is an Australian trustee company with a Board of Directors that consists of representatives from our investor base.
Gardior is the Trustee of The Infrastructure Fund (TIF), a $2.5bn infrastructure fund, and NEPEM, a private equity fund closed to new investors.
Ontario Teachers' Pension Plan
Ontario Teachers' is Canada's largest single-profession pension plan with $189.5 billion in net assets. The Plan pays pensions and invests plan assets on behalf of 323,000 working and retired teachers. Since their establishment as an independent organization in 1990, they have built an international reputation for innovation and leadership in investment management and member services.
Teachers' employ roughly 1,100 employees at their head office in Toronto, Canada and investment offices in London and Hong Kong. Roughly 1,500 people work at their real estate subsidiary Cadillac Fairview.