Transport
Transport infrastructure is well positioned to benefit from increasing urbanisation and public support for coordinated solutions.
The Morrison & Co Transport Group has been heavily involved in Australasian freight and public transport since the 1990's. Today, through its management of Infratil, it oversees NZ Bus, and holds substantial freight transport positions for the NZ Superannuation Fund.
Results
NZ Bus
Morrison & Co entered this space in 2005 when it led Infratil's $NZ 252 million acquisition of NZ Bus from Stagecoach PLC in 2005. Morrison & Co introduced a new executive team, invested in new buses, established service standards and introduced local branding.
Find out more at www.nzbus.co.nz
Snapper
Consistent with Morrison & Co's focus on developing unique and internal investment options, Morrison & Co established Snapper, a Smart Card ticketing company that is now providing electronic ticketing to Wellington's bus commuters and seeking to provide services in additional metropolitan areas in New Zealand and Australia.
Find out more www.snapper.co.nz
Previous Investment Positions
Port of Tauranga
NZ’s largest port by volume. Infratil held a strategic stake (~25%), and had Board representation, over many years in the 1990’s and early 2000’s before exiting when it became apparent that the NZ Government had no desire to continue to move beyond partial privatisation of the port sector,.
Port of Portland pty Ltd
A 5M ton bulk commodity port in Victoria. In 1996, a Morrison & Co managed fund acquired the first port to be fully privatised in Australasia.
CSX World Terminals Adelaide pty Ltd.
A 100,000 TEU container terminal at Port of Adelaide, South Australia. In 1998 a Morrison & Co managed fund acquired a strategic stake with Board representation.
CSX World Terminals Brisbane pty Ltd.
A 50,000 TEU container terminal at Port of Brisbane, Queensland. In 1998 a Morrison & Co managed fund entered into a greenfield joint venture development, in conjunction with CSX, subsequently on-selling the developed business to Asciano in 2001.
Team
Tim Brown - Capital Markets and Economic Regulation
Tim joined Morrison & Co in 1994 after 12 years at the National Bank of NZ including as head of capital markets. At Morrison & Co he has been involved in financing, capital market transaction and economic regulation. He is a director of Wellington Airport and NZ Bus.
Dr Graeme Thomson
Graeme is one of New Zealand's leading investment analysts with specialist expertise in transport and infrastructure. His role includes the analysis and valuation of investments across sectors and mandates. He has been with Morrison & Co since 1992.
Lib Petagna - Executive Director and Chief Investment Officer
Lib Petagna is an Executive Director and CIO of Morrison & Co. Lib has extensive transactional experience across multiple sectors and has led a number of acquisitions and divestments in the airport, energy and transport sectors in Australasia and Europe. He has led Morrison & Co's entry into wholesale funds management and the agriculture sector. He is also the Chairman of NZ Bus, New Zealand's largest public transport operator and a director of Aotea Energy, Infratil Property and Fisher Funds Management.
Paul Ridley-Smith - General Counsel
Paul manages legal and execution strategy for Morrison & Co and Infratil and has been closely involved in all of Infratil's major acquisitions and disposals. He serves on the board of Infratil Airports Europe and has previously been on the board of Wellington Airport. In addition, he is chairman of Isite (out of home advertising) and Snapper Services (smartcard solutions), some of Infratil's more entrepreneurial businesses. Paul joined Morrison & Co in 1998 and previously practiced law in Hong Kong and New York as well as New Zealand.