In March 2020, IPE Real Assets reported that Ontario Teachers' Pension Plan Board and the Utilities Trust of Australia (UTA) had acquired The Infrastructure Fund's (TIF) stake in the Sydney Desalination Plant. Ontario Teachers' then held 60% and UTA 40%, with Morrison & Co acting for UTA. Financial details were not disclosed. The plant could supply up to 15% of Sydney's water needs. In 2012, New South Wales had leased the plant and its pipeline to the consortium for 50 years at A$2.3 billion.
The deal shows that desalination plants were then regarded as long-term infrastructure assets for pension investors; the buyers cited water supply security and a long investment horizon.
Source: IPE Real Assets