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Hastings Funds Management
Andrew Day leads Hastings Funds Management, an Australian infrastructure specialist deploying over AUD 14 billion since 1994.
Hastings Funds Management
Hastings Funds Management was founded in Melbourne in 1994 as an infrastructure investment arm for a small group of Australian superannuation funds. Chief Investment Officer Charles Graham and CEO Andrew Day now steward the firm through a deep bench of sector-specialist investment directors. The firm remains fundamentally an institutional manager, with its capital sourced from a tight circle of large Australian and international pension schemes rather than from a single family balance sheet. The firm's strategy centers on direct equity investment in core infrastructure — assets that provide essential services under long-term concession or regulatory frameworks. Hastings targets three primary sectors: transport (airports, toll roads, and seaports), utilities (water and energy distribution), and social infrastructure. The portfolio is built through proprietary origination and direct co-investment structures, rarely using funds-of-funds. Confirmed positions include TransGrid, the high-voltage electricity transmission network in New South Wales, and a significant ownership stake in Perth Airport. The geographic footprint spans Australia, the United Kingdom, continental Europe, and North America, with additional sourcing offices in Tokyo and Seoul. The firm operates offices in Melbourne, London, New York, Tokyo, and Seoul. In May 2022, Hastings formally combined with North American infrastructure manager Northleaf Capital Partners, creating a trans-Pacific platform with deeper origination capabilities in the US mid-market (per Infrastructure Investor, 2022). The merged entity retains the Hastings brand in its core markets while pooling back-office and origination resources. Hastings' most consequential structural differentiator is its origins as a pooled investment vehicle for non-profit superannuation funds. This history shaped an investment philosophy built on the liability-matching needs of pension beneficiaries — long hold periods, inflation-linked cash flows, and minimal financial leverage. The merger with Northleaf in 2022 preserved this ethos while adding a mid-market direct origination team in North America, creating a dual-track platform that few pure-infrastructure managers have replicated.
General information
Firm type
Asset Manager
Year founded
1994
AUM
AUD 15B–22B (Altss estimate)
Location
Region
Oceania
Country
Australia
City
Melbourne
Corporate office
Melbourne, VIC, Australia
Additional offices
London, United Kingdom · New York, NY, United States · Tokyo, Japan · Seoul, South Korea
Principals
Andrew Day
Chief Executive Officer
Charles Graham
Chief Investment Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Hastings Funds Management?
Charles Graham serves as Chief Investment Officer and leads the global investment team from Melbourne. The firm employs a sector-specialist model, with dedicated investment directors covering transport, utilities, and social infrastructure. Graham and CEO Andrew Day jointly oversee the investment committee that approves all direct equity commitments.
How does Hastings source infrastructure deals?
Hastings relies on proprietary origination through long-standing relationships with governments, regulators, and construction partners in its core markets. Its pension-fund heritage gives it a patient-capital reputation that appeals to public-sector asset sellers. The 2022 combination with Northleaf Capital Partners added a dedicated North American mid-market origination capability, complementing its existing footprint in Australia, the UK, and Europe.
Is Hastings a single family office or an institutional asset manager?
Hastings is a dedicated institutional asset manager. It was founded in 1994 to manage infrastructure investments on behalf of a group of Australian superannuation funds and has never operated as a family office. Its client base remains a concentrated set of large pension schemes and sovereign investors.
Does Hastings participate in fund commitments or only direct deals?
Hastings primarily executes direct equity investments and co-investments in unlisted infrastructure assets. The firm avoids a fund-of-funds model and prefers to originate and manage positions directly, holding board seats and influencing asset-level strategy over multi-decade hold periods.
What is Hastings' relationship with Northleaf Capital Partners?
In May 2022, Hastings and Northleaf Capital Partners combined to form a trans-Pacific infrastructure platform. The deal preserved the Hastings brand in Australia and Europe while pooling origination and back-office resources. Northleaf's North American mid-market direct investment team now operates alongside Hastings' large-cap, core-infrastructure heritage, creating a dual-capability offering for institutional clients (per Infrastructure Investor, 2022).
What sectors does Hastings explicitly avoid?
Hastings concentrates exclusively on core infrastructure and has historically avoided asset classes outside its mandate, including private equity, venture capital, real estate, and hedge funds. Within infrastructure, the firm does not pursue greenfield development risk or merchant power assets that lack regulated or contracted revenue streams.
Where does Hastings' capital come from?
Hastings was established by a consortium of Australian superannuation funds and continues to manage capital primarily for pension schemes and sovereign investors. Its largest client relationships include major Australian industry funds and a select group of international public pension plans. The firm does not manage capital for high-net-worth individuals or retail investors.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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