Charter Hall fund boosted with $50m energy investment
The Clean Energy Finance Corporation (CEFC) has announced its first investment in the industrial property sector, with a $50 million equity investment made to Charter Hall Prime Industrial Fund (CPIF).
Following the investment, the fund would work with the CEFC to identify demonstration projects to "to showcase exemplar energy efficiency solutions, clean energy enabling activities as well as carbon neutral developments”.
The investment would also contribute to the construction of new assets that make use of the latest in sustainable design and materials, potentially driving uptake of materials identified in the Federal Government’s Technology Investment Roadmap such as green steel, aluminium and cement, and delivering long term benefits to Australia’s emissions profile, CEFC said.
The Australian Government-owned Green Bank, which aims to facilitate increased flows into the clean energy sector, said that in the current environment the industrial property sector provided more opportunities to further decarbonise the economy given its long-term tenants who were looking for sustainable property to help meet their environmental, social, governance (ESG) targets.
“Working with an industry leader like Charter Hall gives us the opportunity to use our capital to help transform the industrial property sector. We can drive sustainability measures across an extensive portfolio of assets, as well as positively influence the sustainability profile of a diverse range of large tenants,” CEFC’s chief executive, Ian Learmonth, said.
The $5.5 billion CPIF is one of Australia’s largest industrial and logistics funds, with 75 assets across Australia, including warehouses, industrial estates and distribution centres.
“The CEFC’s purpose is aligned with Charter Hall and CPIF’s sustainability strategies, which have set significant long-term emissions reduction targets for our property assets and ultimately future-proof the performance of our investments for all stakeholders,” Charter Hall’s chief experience officer Natalie Devlin commented on the investment.
AUTHOR
Oksana Patron
Recommended for you
Recommending Platinum shareholders to enact the merger with L1 Capital, Morningstar has said it expects the combined firm will be able to moderate outflows and facilitate diversity in product range.
Elanor Commercial Property Fund has appealed to the Takeovers Panel regarding the takeover offer by family office Lederer Group, describing “disclosure deficiencies” in last month’s bidders statement.
Wholesale distribution is experiencing the most active hiring efforts as the decline in financial advisers means fund managers are focusing on high-net-worth investors and wealth managers instead.
With wealth managers and advisers having minimal capacity for fund research, a BNY report has found simple alternatives strategies from established providers are those which resonate best with that audience.
