ART to offload Epic Energy in reshuffle

Australian Retirement Trust will sell Epic Energy, a gas and renewable energy infrastructure company, to Morgan Stanley Infrastructure Partners. The transaction is expected to finalize in the second half of 2026, ending a 13-year investment managed by QIC.

Deal valued near $1 billion, terms undisclosed

Neither party disclosed financial details, though the transaction has been reported to value Epic Energy at approximately $1 billion. Morgan Stanley will purchase the business through investment funds managed by its private infrastructure investment platform, subject to customary regulatory approvals.

Epic Energy runs two key gas pipelines in South Australia—the Moomba to Adelaide Pipeline System and the South East Pipeline System. These assets deliver gas for power generation, distribution, and industrial needs. The company has also moved into renewables, developing wind farms, solar projects, and an Adelaide microgrid.

Sale presented as standard portfolio adjustment

Australian Retirement Trust, one of Australia’s largest superannuation funds with 2.4 million members, called the sale a routine part of its investment review. The fund stated it was not leaving the infrastructure sector but reallocating its holdings.

“ART regularly reviews opportunities to buy, hold and sell assets as part of our long-term approach to investing,” the fund explained. “The transaction reflects our focus on active portfolio management and delivering strong outcomes.”

The investment in Epic Energy started in 2013. Over the years, the company has remained a key energy provider while expanding its renewable energy operations. ART highlighted the business’s role in supporting local jobs and economic activity, expressing confidence in its future under new management.

“Since 2013, ART’s investment has supported Epic Energy’s role as a provider of critical energy infrastructure while contributing to the growth of its renewable energy portfolio,” ART said.

ART framed the proposed sale as part of its regular review of investments rather than a broader withdrawal from infrastructure. The fund said its investment approach remained focused on maintaining diversification and identifying opportunities that could support essential services and create long-term value.

“As one of Australia’s largest superannuation funds, we’re committed to investing in a diversified portfolio of assets and opportunities that support essential services and long-term value creation for members,” the fund said.

The fund said the business had supported employment and economic activity during its investment period and remained well placed under its prospective new owner.

“Epic Energy has played an important role in supporting jobs and economic activity, and we believe the business is well positioned for the future.”