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Morrison & Co facts for kids
| Private company | |
| Industry | Investment management |
| Founded | 8 August 1988 |
| Founder | Lloyd Morrison |
| Headquarters |
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New Zealand
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Key people
|
Rob Morrison (Chairman) Paul Newfield (CEO |
| Subsidiaries | Infratil |
Morrison & Co is a company that manages investments around the world. They focus on important things like airports, energy, and data centers. They have offices in countries like New Zealand, Australia, the United Kingdom, the United States, and Singapore.
Contents
- History of Morrison & Co
- What Morrison & Co Does
- Infratil: A Key Investment Fund
- Infratil Australia Limited: An Earlier Fund
- Utilities Trust of Australia (UTA): Investing in Essential Services
- New Zealand Superannuation Fund: A Partnership
- The Morrison Public Infrastructure Partnership Fund (PIP Fund)
- Morrison Growth Infrastructure Fund (MGIF)
- Other Important Activities
- Other Activities and Goals
History of Morrison & Co
Morrison & Co was started in 1988 by Lloyd Morrison. At first, they offered many types of advice about investments. This advice was for both private companies and government groups in New Zealand and Australia.
In the early 1990s, the company decided to focus more on "infrastructure." Infrastructure means big systems like roads, power plants, and communication networks. This happened when many government-owned businesses in Australia and New Zealand were sold to private companies. This process is called privatisation.
Key Milestones in Morrison's History
In 1994, Morrison & Co launched a company called Infratil. This made them more active in buying parts of airports, ports, and energy businesses in Australia and New Zealand.
In 2009, they started the Public Infrastructure Partnership Fund. This was New Zealand's first fund to invest in "public-private partnerships" (PPPs). PPPs are projects where the government and private companies work together.
In 2018, Morrison & Co created the Morrison & Co Growth Infrastructure Fund. This fund invests in infrastructure projects that are good for the environment. Also in 2018, Morrison & Co began managing Utilities Trust of Australia (UTA).
Over the next three years, Morrison & Co grew even more. They opened offices and started working in Asia, Europe, the UK, and North America.
In 2021, Morrison & Co raised a lot of money, USD 3 billion, for a new global infrastructure fund. This fund is open-ended, meaning it can keep taking in new investments.
In 2022, Paul Newfield became the third CEO of Morrison & Co. He took over from Marko Bogoievski.
In 2023, the company changed its brand name. It became simply "Morrison" instead of "Morrison & Co."
What Morrison & Co Does
Morrison & Co manages several important investment funds. These funds help build and improve essential services.
Infratil: A Key Investment Fund
Morrison & Co launched Infratil in 1994. It was one of the first listed infrastructure funds in the world. "Listed" means its shares can be bought and sold on stock exchanges. Infratil is listed on both the New Zealand Exchange and the Australian Securities Exchange.
Infratil has invested in many important businesses. These include Manawa Energy (which provides power), Wellington Airport, One NZ (a telecommunications company), RetireAustralia (retirement villages), and CDC Data Centres (which store digital information).
Infratil pays Morrison & Co a fee to manage its investments. This fee is based on the total value of the assets Infratil manages. Infratil has shown strong financial returns since it started. In 2021, it won an award for its performance in the Asia-Pacific region.
Infratil Australia Limited: An Earlier Fund
Morrison & Co also managed Infratil Australia Limited. This fund was active from 1994 until 2000. It owned parts of several Australian airports, like Perth Airport and Darwin International Airport. It also owned parts of energy companies and ports.
Utilities Trust of Australia (UTA): Investing in Essential Services
In July 2018, Morrison & Co started managing Utilities Trust of Australia (UTA). UTA is an older fund, started in 1994. It invests in important infrastructure assets around the world. These include Australian Registry Investments, Perth Airport, TransGrid (an electricity network), Phoenix Natural Gas, and South East Water.
UTA aims to provide good returns with low risk. In 2021, UTA was ranked as one of the top ten infrastructure funds globally. It was also the leading fund in Oceania for its ESG performance. ESG stands for Environmental, Social, and Governance. It means the fund considers how its investments impact the environment and society.
New Zealand Superannuation Fund: A Partnership
Since 2006, Morrison & Co has helped manage a global infrastructure investment for the New Zealand Superannuation Fund. This fund helps save money for New Zealand's future.
The Morrison Public Infrastructure Partnership Fund (PIP Fund)
In 2009, Morrison & Co launched the Public Infrastructure Partnership Fund (PIP Fund). This was New Zealand's first fund focused on investing in PPPs. PPPs are projects where private companies work with the government to build things like schools or hospitals.
The New Zealand Superannuation Fund was a main investor in the PIP Fund. Other New Zealand trusts and investors also put money into it. The PIP Fund has enough money to help build about NZ$1 billion worth of social infrastructure.
The PIP Fund has invested in several projects. These include schools in Hobsonville Point, New Zealand, and student housing at the University of Wollongong in Australia. It also invested in the Melbourne Convention Centre and the Bendigo Hospital in Australia.
Morrison Growth Infrastructure Fund (MGIF)
In August 2020, Morrison & Co completed fundraising for the Morrison & Co Growth Infrastructure Fund (MGIF). This fund reached about A$580 million. MGIF focuses on the long-term value of essential infrastructure services. It aims for good returns by investing in important projects.
Other Important Activities
In May 2019, Morrison & Co bought an agriculture business called Sundrop Farms.
In early 2021, Morrison & Co promised to be "climate positive" in its own operations. This means they try to remove more carbon emissions than they produce. They do this by reducing emissions or by supporting programs that help the environment.
In June 2021, a group managed by Morrison & Co bought 49% of InfraCo Towers from Telstra Ltd. InfraCo Towers manages the largest network of mobile phone towers in Australia. This business later changed its name to Amplitel Ltd.
In 2021, Marko Bogoievski, who was CEO for 13 years, retired. Paul Newfield, who used to lead the Australia & New Zealand operations, became the new CEO. Marko was recognized with awards for his leadership in 2021.
In April 2023, Morrison & Co bought FiberLight for USD 1 billion. FiberLight is a company that provides fiber optic networks. Bill Major was announced as the new CEO of FiberLight.
Other Activities and Goals
In March 2008, Lloyd Morrison started a campaign called "A measurable goal." He wanted New Zealand to have a common goal for its future. This was partly because forecasts showed New Zealand's economic growth was slowing down. In 1950, New Zealand was one of the top 10 richest countries.