Industry Super Australia (ISA), an umbrella organisation for the industry super movement in Australia, has welcomed the infrastructure initiatives contained in Australia's Budget which should lead to a sharp improvement in the infrastructure investment opportunities in the years ahead.
Formerly known as Industry Super Network, ISA manages collective projects on behalf of fifteen Industry SuperFunds.
ISA Director of Public Affairs, Matt Linden, reinforced the commitment of Industry SuperFunds to partner with federal and state governments to invest in the infrastructure Australia is crying out for.
"ISA is very pleased with the measures in the Budget to unlock funds for infrastructure.
"The $5billion Asset Recycling Initiative is exactly the sort of policy that will kick start a new wave of infrastructure investment critical to Australia's future.
"Coupled with a willingness to consider innovative new financing and procurement models there is an opportunity to bring patient capital to the table and supercharge investment.
"Industry SuperFunds have been pioneers in investing in infrastructure, and stand ready to invest an additional $15 billion over the next five years if appropriate deals can be brought to market.
Together with state and Commonwealth governments, Industry SuperFunds are prepared to invest in Australia, build this country and lift productivity."
Mr Linden said infrastructure assets have delivered exceptional returns to Industry SuperFund members while investing back into Australia's economic growth.
"If governments judge it in the public interest, recycling infrastructure sale proceeds is a very effective way to catalyse essential new infrastructure that may not attract private sector investment in the first instance."
Where super funds successfully purchase assets the community effectively retains ownership.
As proven long-term investors and stewards of significant economic and community infrastructure, ownership by Industry SuperFunds can help alleviate community concerns.
ISA has also proposed an innovative bid model for infrastructure procurement that generates a true partnership in the public interest between government and long term super fund investors. Mr Linden said:
"ISA's creative bid model will speed up procurement, reduce bid costs, and result in better service delivery to the community."