Sydney, Nov 12: UniSuper, the $160 billion super fund open to all Australians, has entered a strategic private equity partnership with Macquarie Asset Management (MAM), anchoring the strategy with USD 500 million, including USD 250 million of co-investments across its first two deals: DynaGrid (USD 100m) and Potters Industries (USD 150m).
The specialist MAM private equity strategy targets infrastructure-adjacent businesses in the US, Europe and other OECD markets, focusing on stable, high-quality companies supplying services, products and technologies to infrastructure end markets.
DynaGrid, among the largest US utility service providers for transmission and substation assets across Texas, the Southeast and Midwest, closed in June 2025.
Potters Industries, a leading global maker of reflective glass beads and microspheres used in road infrastructure and performance materials, was signed in early November 2025 and is expected to close by year-end.
UniSuper will hold ~30 per cent equity in both DynaGrid and Potters alongside MAM, with board representation and governance rights.
The partnership aligns with UniSuper’s approach of forming smart, aligned partnerships with top-tier global managers and co-investing alongside them.
MAM brings deep infrastructure and private equity expertise to manage operationally intensive businesses.
“We’re delighted to extend our partnership with Macquarie Asset Management. MAM’s infrastructure adjacent strategy offers a pipeline of high-quality investments in key offshore markets leveraging structural themes such as decarbonisation, digitisation, and technological innovation.
UniSuper’s first co-investment in DynaGrid has performed strongly to date, exceeding our base case expectations. We believe DynaGrid is poised to grow and scale its business underpinned by strong structural tailwinds as US utilities invest to expand and harden the electricity grid.”
We are also pleased to have signed our second co-investment in Potters Industries, which is expected to benefit from increased focus on safety and regulatory requirements for retro-reflectivity on roads.
With a defensible market position and clear opportunities for future expansion, Potters Industries represents a strong addition to the portfolio.
These are compelling investments enhancing diversification and value for UniSuper members.
They further demonstrate the benefits of our smart partnership approach as well as our ability to identify and act on opportunities fast.”
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