Stepping up to the challenge
Following Paris-based LBC Tank Terminals’ recent foray into the Asian terminal sector, the head of alternative investments for the major shareholder, Challenger Infrastructure Fund, talks to Tank Storage magazine about its future plans
Challenger Financial Services is a household name in Australia, known to many as a leading investment, mortgage, funds management and financial services group. ChallengerÍs Asset Management division has responsibility for the Challenger Life company balance sheet, which invests in just three classes of asset including, over the past three years, infrastructure and infrastructure-like assets. Earlier this year ChallengerÍs Australian Stock Exchangelisted Infrastructure Fund (CIF) further diversified by acquiring various petrochemical terminals around the world.
And the Challenger Group has no intention of stopping there. ïTank storage is an essential link between important products and the economy,Í explains Emil Pahljina, executive director, Infrastructure at Challenger. ïWe have a real appetite to expand our presence in the sector.Í
Challenger has spent A$1.2 billion (€0.7 billion) in the terminal industry over the last six months, and would be happy to spend the same amount again. ïWeÍve been researching this market for over 18 months now,Í states Pahljina. ïWeÍre very keen to move forward, especially using the existing platform that LBC provides.Í
The company chose to acquire LBC partly due to its strong presence in Europe and the US, and partly due to the capability of the existing management team. ïWe are a people company,Í says Pahljina. ïWe always work closely with the management team when acquiring any company and, at the same time, we bring our own business and commercial experience and we stay very involved with any investment we make on a day-to-day basis.Í
