ART to acquire a 17.1% stake in ElectraNet from Macquarie Asset Management-backed TIF.

ART, an Australian superannuation fund, agreed to acquire a 17.1% stake in ElectraNet, an electric company, from Macquarie Asset Management-backed TIF, an Australian investment fund. Financial terms are not disclosed. “ART initially invested in ElectraNet in 2004 and currently owns an 11.2% indirect interest via AUT. Over that time, we’ve had the chance to build our knowledge of the South Australian electricity transmission network and through our investment contribute to the growth and development of ElectraNet as an enabler of South Australia’s economic development and transition to renewable energy. Increasing our stake in ElectraNet further strengthens ART’s commitment to Australia’s infrastructure and energy transition. We believe it will continue to deliver attractive returns for our members across the nation,” Michael Weaver, Australian Retirement Trust General Manager, Mid Risk Assets & UK.