Queensland Investment Corporation

Queensland Investment Corporation
TypeGovernment owned corporation
IndustryInvestment management
Founded1 June 1991 (1991-06-01)
Headquarters
Brisbane
,
Australia
Number of locations
7 offices: Brisbane (HQ), Sydney, Melbourne, London, New York, San Francisco, Singapore
Area served
Worldwide
Key people
Products
AUMA$130bn (June 2025)
OwnerQueensland Government
Number of employees
900+ (as at 2025)
Websitewww.qic.com.au

The Queensland Investment Corporation (QIC) is an Australian institutional investment manager and sovereign investor.

QIC invests across infrastructure, real estate, private equity, private debt, fixed income and multi-asset overlay solutions[1]. It manages funds on behalf of clients in Australia, North America, the United Kingdom, Europe, Asia, and the Middle East, including pension and superannuation funds, sovereign wealth funds, insurers, universities and other government institutions[2].

Although wholly owned by the Queensland Government, QIC operates commercially and invests alongside global institutional partners. As of June 2025, it manages more than A$130 billion in assets under management.

Governance

QIC is constituted under the Queensland Investment Corporation Act 1991 and operates as a company Government-Owned Corporation (GOC)[3]. Its Board of Directors, accountable to shareholding Ministers, including the Queensland Treasurer, oversees strategy, risk management and investment performance.[4]

History

QIC was established on 1 July 1991 by the Queensland Government under the Queensland Investment Corporation Act 1991[5] to manage the State’s long-term investments. Its early activities focused on liquid markets (fixed income, currency, cash) and real estate.

Year Detail
2002 Began managing funds for clients outside the Queensland Government.
2004 - 2006 Opened offices in Sydney, Melbourne, and London; established private equity and infrastructure investment capabilities.
2008 QIC transitioned from a statutory Government Owned Corporation to a company GOC (QIC Limited) to enhance commercial independence while remaining wholly owned by the Queensland Government.

Became a signatory to the United Nations-supported Principles for Responsible Investment (UN PRI).

2011 - 2014 Opened international offices in San Francisco, Copenhagen, and New York.
2021 Launched Private Debt capability[6].

Kylie Rampa appointed Chief Executive Officer, succeeding Damien Frawley.[7]

2023 Opened an office in Singapore in 2023.[8]
2025 Andrew King appointed Chairman of the Board[9].

Offices

QIC has offices in Brisbane (headquarters), Sydney, Melbourne, London, New York, San Francisco, Singapore and Copenhagen.

Assets

QIC has investments in both Australia and the United States. Most of its shopping mall investments are through a 49% shareholding in a joint venture with Forest City Enterprises.[10][11] In 2017, QIC reached an agreement to buy Forest City's interest in six of FC's eleven mall investments and an option to buy four others, excluding Charleston Town Center Mall in Charleston, WV. Forest City's US shopping centre management operation would also transfer to QIC.[12]

Amongst its investments are shareholdings in:[13][14][15][16]

References

  1. ↑ QIC Ltd - Company Profile and News - Bloomberg Markets
  2. ↑ "QIC - Who we are".
  3. ↑ Queensland Investment Corporation Act 1991 - Queensland Legislation - Queensland Government
  4. ↑ "QIC - Corporate Governance".
  5. ↑ "Queensland Investment Corporation Act 1991".
  6. ↑ "QIC launches infrastructure debt strategy - Infrastructure Investor".
  7. ↑ "QIC appoints Kylie Rampa as new chief executive".
  8. ↑ "QIC opens new international office - Financial Standard".
  9. ↑ "Board Members | QIC".
  10. ↑ QIC enters joint venture with Forest City to acquire US real estate portfolio Queensland Investment Corporation 4 June 2013
  11. ↑ Australia's QIC forms $2bn joint venture with Forest City IPE Real Estate 6 June 2013
  12. ↑ Minaya, Ezequiel, "Forest City to Exit Shopping-Center Business in Latest Deals" (subscription required), Wall Street Journal, October 2, 2017. Retrieved 2017-10-02.
  13. ↑ Australian Retail Assets Queensland Investment Corporation
  14. ↑ US Retail Assets Queensland Investment Corporation
  15. ↑ Office Assets Queensland Investment Corporation
  16. ↑ Direct Investments Queensland Investment Corporation
  17. ↑ Royal Schiphol Group acquires a stake in Hobart International Airport Schiphol Group 1 October 2019
  18. ↑ QIC takes 80% stake in North Australian Pastoral Co Beef Central 6 May 2016
  19. ↑ Port of Melbourne lease sold to the Lonsdale consortium for $9.7 billion by Andrews Government ABC News 19 September 2016
  20. 1 2 "North Western Roads". QIC. Retrieved 2 November 2020.
  21. ↑ Trad, Jackie (12 December 2019). "Palaszczuk Government to establish Queensland Future Fund". statements.qld.gov.au. Government of Queensland. Retrieved 20 November 2021.
  22. ↑ McKeown, Renee (18 November 2021). "QIC to Develop Brisbane's Cross River Rail Precincts". www.theurbandeveloper.com. The Urban Developer.com. Retrieved 20 November 2021.
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