New Investment Company to Fund Infrastructure

Wednesday, April 1st, 2015
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Broad-based financing group Argo Investments is creating Australia’s first globally focused listed infrastructure company.

It has announced its intention to create Argo Global Listed Infrastructure, which would invest in a diversified portfolio of companies that build airports, toll roads, railways, utilities and renewable energy projects.

New York-based investment group Cohen & Steers would advise this new company on where to invest.

“Cohen & Steers is one of the world’s largest investors in real assets, including global listed infrastructure and real estate,” Argo’s managing director Jason Beddow said.

Argo Investments is expected to issue a prospectus with the Australian Securities and Investments Commission in May outlining the number of shares to be issued, along with the capital raising target and the share price offer.

The company had picked a good time to create a new infrastructure company, IG markets strategist Evan Lucas said.

“Argo is very, very good at this,” he said.

“Infrastructure in this country is going to build considering most of the state governments are spending money on infrastructure.”

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