SWFs Battle for Australian Power Grid Provider

May 03, 2017 by Loch Adamson

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This week, two consortia of sovereign wealth funds submit their final bids for a coveted Australian infrastructure asset, Endeavour Energy; Singapore's GIC pays top Australian dollar for a student-housing complex in Sydney; and Temasek poaches a CEO from one of its own portfolio companies, Mediacorp, to help guide its aggressive telecoms, media and technology investment team. SWFs Compete to Buy Australian Power Grid Endeavour Energy In a race to buy the best infrastructure assets, sovereign wealth funds are currently bidding furiously against each other in Australia. Two consortia, each backed by major sovereign funds, have reportedly placed final bids for Australian state-owned power grid Endeavour Energy, which is being sold by the state of New South Wales as part of a larger privatization scheme. A decision on the estimated A$4 billion ($2.99 billion) deal is expected within a week. One consortium has been formed by…

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