Infrastructure manager Morrison & Co is considering setting up a retail feeder fund to enable a wider pool of investors to participate in its planned social infrastructure fund.
Morrison's Public Infrastructure Partnership Fund is seeking to raise up to $400 million to invest in building schools, hospitals and housing.
Using a traditional public private partnership model, the fund will finance, build and maintain facilities for the government in return for an annual fee. The facilities will be handed back to public ownership after a specified period.
Morrison & Co has engaged Craigs Investment Partners to investigate the establishment of a retail fund, to allow others to participate alongside institutional investors
The fund is likely to launch early next year. Pre-registrations from potential investors are already being taken.
Morrison & Co says it has now secured the New Zealand Superannuation Fund as a cornerstone investor, which will contribute up to $100 million.