Superannuation giant UniSuper is doubling down on external infrastructure management, handing a $765 million mandate to Macquarie as the broader sector reconsiders bringing the management of its private assets in-house.
While the industry has cut back on fees paid to external managers in favour of taking more direct control over investment decisions, some have found it difficult to compete with better-resourced infrastructure investors when bidding for global assets and extracting the returns expected by members.
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