ART joins global investors backing US$1.2bn infrastructure platform

Australian Retirement Trust (ART) has joined a group of global investors backing Accelerate Infrastructure Opportunities, helping lift total equity committed to the platform to US$1.26 billion following a US$630 million capital raise.

Accelerate Infrastructure Opportunities is a US-based infrastructure and real estate investment platform which buys and manages the real estate of infrastructure such as data centers, solar farms and battery storage. 

The latest raise included additional investment from funds managed by CBRE Investment Management, which first formed a partnership in 2022, and new commitments from UAE-based Mubadala Investment Company and other institutional investors, underscoring continued appetite for infrastructure exposure among large asset owners.

The investment from ART reflects the ongoing search by superannuation funds for both offshore assets and infrastructure ones. Last week, Dexus announced it had secured $500 million from a major super fund for its Australian open-ended property fund focused on office, retail and industrial assets.

ART’s Balanced options holds listed infrastructure, externally-managed unlisted infrastructure and internally-managed unlisted infrastructure with assets including holdings in Heathrow Airport and Electranet. 

Speaking in April, ART’s chief economist Brian Parker said the fund’s success in working with external managers – including in infrastructure – had been one of the contributors to strong performance. A 20 per cent stake in unlisted infrastructure asset Brisbane Airport, for example, had been the “gift that keeps on giving” in terms of its returns.

Commenting on the additional raises, Brennan Potts, founder and chief executive of Accelerate, said: “This capital reflects deep alignment with long-term institutional partners who understand the durability of infrastructure cash flows. Our strategy is built on acquiring infrastructure sites that underpin digital connectivity, renewable energy, and mobility, and scaling them through disciplined execution.

“Reaching $1.26 billion in capital commitments gives us the scale and capital certainty to continue to pursue the most compelling infrastructure opportunities.”

Since launching in December 2022, the platform has built a portfolio of more than 400 infrastructure sites across digital, renewable and transportation assets spanning 47 US states.

Robert Shaw, managing director at CBRE Investment Management, said the latest raise would support further expansion of the platform’s diversified infrastructure holdings.

“Leveraging the breadth and capabilities of the CBRE platform and a premier management team, Accelerate quickly established itself as the leading infrastructure site platform,” he said.

“CBRE Investment Management is proud to increase our support of Accelerate and welcome Mubadala, ART and our other partners to the platform. This strategic capital raise will enable Accelerate to continue to scale its diversified portfolio of key infrastructure assets and deliver durable infrastructure cash flows to investors.”