An honorable member of the Coffee Shop Has Just Posted the Following:
Australia has been the target of a record $25 billion in acquisitions this year by Canadian investors who are applauding the nation’s strategy of selling state assets to fund new railways, roads and hospitals.
Canadian purchases in Australia jumped more than eightfold in 2015, data compiled by Bloomberg show. Caisse de Depot et Placement du Quebec bought into an electricity grid in New South Wales state and opened a Sydney office with six executives this year. Canada Pension Plan Investment Board and the nation’s Brookfield Asset Management Inc. are part of rival groups competing for Australian port and rail company Asciano Ltd.
Australian Prime Minister Malcolm Turnbull is encouraging regional governments to sell assets and use the money to fund new projects, as tumbling commodity prices and China’s slowing economic expansion wreak havoc on fiscal revenues. The South Pacific nation, located more than 10,000 kilometers (6,200 miles) from North America, trails only the U.S. as a target for Canadian outbound acquisitions that more than doubled this year to a record $201 billion.
“We’re there to invest in infrastructure, and they are the model,” Ron Mock, chief executive officer of the Ontario Teachers’ Pension Plan, which manages about C$155 billion ($113 billion), said in a Bloomberg TV Canada interview. “They’ve figured out how to attract capital from all over the world.”
http://www.bloomberg.com/news/articl...grid-set-model
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