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Ross Israel is the Head of Global Infrastructure Investments for QIC, Queensland, Australia\\u2019s 82B AUZ ($62B USD) investment fund. The Queensland government formed QIC in 1991 to oversee its Superannuation Fund, and the business has since evolved into a Global Diversified Alternative Asset Manager. Ross joined QIC in 2006 to create the Global Infrastructure effort and also serves as a member of QIC\\u2019s Executive Committee.\\xa0 He has a quarter century\\u2019s worth of experience in corporate finance and infrastructure funds management.\\xa0

Our conversation covers QIC\\u2019s structure, examples of long duration assets in ports and waterways, crossing knowledge between private and public markets, managing external assets alongside a substantial internal pool, governance structure, compensation and incentives, navigating stakeholders, and opportunities and risks in the space.

The subtle differences in constituents and objectives of sovereign wealth funds from other institutional pools come out in the implementation of QIC\\u2019s investing. It\\u2019s a topic we\\u2019ll continue to explore on future shows.\\xa0

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Show Notes

3:10 \\u2013 A look at Ross\\u2019s background

5:58 \\u2013 QIC and how is it structured

7:32 \\u2013 Portfolio composition when Ross arrived

9:08 \\u2013 What was his strategy for putting money to work

10:03 \\u2013 What was the thinking behind such a concentrated portfolio

11:28 \\u2013 Port of Brisbane

15:38 \\u2013 Local vs. global focus

16:58 \\u2013 Most challenging deal he\\u2019s done

18:28 \\u2013 Lessons learned from their investing strategies

20:01 \\u2013 Structure of their investment decision meetings

22:43 \\u2013 Why does QIC take on outside capital?

25:27 \\u2013 How does being part of a government entity play out in the deal dynamics

27:43 \\u2013 How does decision making work on the fund?

29:06 \\u2013 What happens if an internally run fund falters?

30:40 \\u2013 QIC\\u2019s approach to incentives and compensation

37:13 \\u2013 What influence do the large pool of funds have on the way they pursue investments

39:06 \\u2013 How do they think about their objectives

41:30 \\u2013 What is the competitive landscape for infrastructure investments

44:38 \\u2013 What are the concerns as they look out on the horizon

47:32 \\u2013 How do they view public debt

48:54 \\u2013 Closing Questions