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The deal is a debut transaction for the government-backed vehicle’s Strategic Fund and comes amid growing concerns surrounding bad loans in the country’s infrastructure sector.

Commonwealth Bank of Australia is selling the asset manager in a separate transaction from the planned demerger of its wealth management businesses.

Chancellor Philip Hammond insisted present contracts will be honoured but vowed to never again sign a PFI or PF2 project.

The fund is targeting €7.5bn and has set a hard-cap of €9bn, more than double the €4bn raised for Fund III in 2017.

The $67bn Australian superannuation fund has pursued a hybrid investment strategy since appointing Mark Hector as portfolio manager in 2014. After deploying its largest equity cheque, we find out what the future holds.

ATP said that its $6.7bn TDC acquisition is safe, but further involvement with the group is paused pending questions they ‘need to have answered’ amid claims of dividend trading, denied by Macquarie.

The new vehicle will focus on biomass, healthcare infrastructure, PPPs and waste and water facilities, as Asian renewables ‘heating up’.

Two LPs committed to the $40bn vehicle told us they are monitoring the situation involving a journalist's disappearance and the questions surrounding Saudi Arabia's potential involvement.

CIO Sam Sicilia says the superannuation fund will consider non-core and infra-like assets, but only on a case-by-case basis.

The fund manager expects to commit at least $5 billion to assets in the region, its newly appointed head of renewable power in Asia-Pacific says.