Morrison & Co

What Morrison & Co does

Morrison & Co is a private global infrastructure investment manager established in New Zealand in 1988. The firm invests across private and listed infrastructure on behalf of institutional investors and sovereign wealth funds globally, with US$30+ billion in assets under management as of 31 March 2026 and a reported track record of 18% p.a. net returns over 32 years (represented by Infratil Limited's total shareholder return since 28 March 1994).

The firm is organized around direct institutional sales to large pension funds, insurance companies, and sovereign wealth vehicles, and operates from 7 offices globally with 225+ professionals. Morrison's investment philosophy targets infrastructure for the modern economy, including digital infrastructure (fiber, data centers), renewable energy, and essential services. Recent platform initiatives include Fillex, a U.S. automated pharmacy logistics platform launched in January 2026, and Chrysalis Renewables LP, a renewable energy platform targeting over 3.5 GW of solar and battery storage across North America.

Morrison's revenue model is based on recurring management fees on committed capital across its private and listed infrastructure strategies, with the potential for performance fees given the firm's reported long-term net return track record. The firm is owned by its team and founders; in July 2026, Japan's Sumitomo Mitsui Trust Bank agreed to acquire a 15% equity stake as part of a US$2 billion+ partnership including a $500 million fund commitment, making Morrison SuMiTB's preferred global infrastructure manager. Strategic acquisitions of FiberLight (2022) and Lyntia (2023) round out a portfolio that spans digital infrastructure across North America, Europe, and Asia Pacific.

Name

Morrison & Co

Legal name

Morrison

Website

https://hrlmorrison.com

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

251–500 employees

Short description

Morrison & Co is a global infrastructure investment manager, established in 1988 in New Zealand, managing US$30+ billion for institutional investors and sovereign wealth funds across digital infrastructure, renewable energy, and essential services.

Ownership category

akta.pro rank

Product category

Infrastructure Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282)

akta.pro primary industry

Multi-Strategy — Single-Manager, Multi-PM (FSAHAFAB)

akta.pro secondary industry

Fund of Funds & Multi-Manager Mutual Funds (FSAAAEAL)

Keywords

• Infrastructure investment management
• Private equity infrastructure
• Digital infrastructure funds
• Renewable energy investment
• Institutional asset management

Headquarters

HQ city

Wellington

HQ country

New Zealand

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations

Revenue model

1. Asset Management Fees: Morrison generates revenue through management fees charged on assets under management (AUM) across its private and listed infrastructure strategies. As an infrastructure investment manager with over US$30 billion in AUM, the firm earns recurring management fees based on committed capital.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Morrison & Co is a global infrastructure investment manager that originates, manages, and operates private and listed infrastructure investments on behalf of institutional investors and sovereign wealth funds. It invests across the risk/return spectrum — from core to opportunistic — in digital infrastructure, renewable energy, and healthcare logistics assets, deploying capital through pooled funds and direct mandates.

Product overview

Morrison & Co is a global infrastructure investment manager that operates multiple investment platforms. The core offering consists of infrastructure investment management across private and listed markets, with specific platform products including Fillex (national pharmacy logistics automation) and Chrysalis Renewables LP (renewable energy investment). These platforms serve institutional investors and sovereign wealth funds seeking exposure to essential infrastructure assets.

Differentiator

Problem solved

Functional benefit

Products and services

• Infrastructure Investment Management Services End-to-end infrastructure investment management for institutional investors and sovereign wealth funds, including origination, underwriting, asset management, and value-creation support for private and listed infrastructure investments.
• Digital Infrastructure Investment Funds Pooled funds targeting digital infrastructure assets (fiber networks and data centers), targeting institutional investors seeking exposure to long-life digital backbone infrastructure.
• Chrysalis Renewables LP Limited partnership vehicle investing in renewable energy generation assets, providing institutional investors with exposure to clean-energy infrastructure.
• Fillex Healthcare Logistics Platform Healthcare logistics platform that operates pharmacy distribution services in New Zealand, serving the pharmaceutical supply chain as part of Morrison & Co's infrastructure portfolio.

Quantifiable outcome

• 18% p.a. net returns over 32 years
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Hanwha Renewables LLCcoreStrategic or Co-development Partner · 19 June 2026Strategic partnership targeting over 3.5 GW of solar and battery storage projects across North America. Chrysalis Renewables LP, backed by Morrison, acquired Atlas V and Atlas VI solar projects (357 MW total) as first transaction under this partnership. Projects use Hanwha's Qcells subsidiary manufactured solar modules with 15-year PPAs with Southern California Edison.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• I Squared Capital: I Squared is an independent global infrastructure manager with multi-strategy infrastructure funds (Core, Core Plus, Value-add). Closely comparable in fund structure and target sectors to Morrison.
• Stonepeak Partners: Stonepeak is a pure-play infrastructure manager with strong North American franchise spanning digital, transport and energy. Similar strategy mix and institutional client focus as Morrison.
• Vauban Infrastructure Partners: Vauban is a European infrastructure manager reportedly competing with Morrison for the Orange data center stake. Similar mid-scale European/global infrastructure mandate focus.
• Macquarie Asset Management: Macquarie Asset Management is the world's largest infrastructure investment manager, running flagship private and listed infra vehicles. Directly comparable to Morrison given overlapping focus on global infrastructure for institutional and sovereign clients.
• IFM Investors: IFM is an Australian-headquartered, industry-superannuation-owned infrastructure manager. Most comparable APAC origin story to Morrison and operates multi-strategy global infra funds for institutional investors.
• Antin Infrastructure Partners: Antin Infrastructure Partners runs multi-strategy European-rooted infrastructure funds. Comparable mid-sized manager competing for similar institutional LP mandates in digital and energy transition infra.
• Brookfield Asset Management: Brookfield manages one of the largest global infrastructure platforms with private and listed vehicles. Highly comparable to Morrison in fund structure (multi-strategy infrastructure) and target LP base of pensions and sovereigns.
• AXA IM Alts (Infrastructure): AXA IM Alts is a direct co-investor with Morrison on Lyntia and runs dedicated infrastructure strategies. Comparable institutional-grade infra manager and consortium partner.
• Global Infrastructure Partners (BlackRock): GIP operates large global infrastructure funds focused on energy, transport and digital infrastructure under BlackRock. Comparable in scale ambition, infrastructure strategy breadth and institutional LP target.
• KKR Infrastructure: KKR's infrastructure platform invests in private and listed infrastructure globally, including digital and energy transition themes. Directly comparable to Morrison on mandate type and LP base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Morrison & Co