Deals

Trump Public-Works Plan Gets Nudge From $2 Trillion Pension Pool

Pension industry Down Under says it can help unlock funds
Turnbull leads 22-strong business delegation to Washington

Australian Ambassador to the U.S. Joe Hockey discusses investing in U.S. infrastructure. (Source: Bloomberg)

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By Jason Scott and Brett Foley

February 21, 2018 at 11:00 AM UTC

Updated on

February 22, 2018 at 1:13 AM UTC

This article is for subscribers only.

President Donald Trump’s pledge to fix America’s ailing roads, bridges and airports may get an unlikely boost from retirement savers some 10,000 miles away in Australia.

In face-to-face talks at the White House this week, Prime Minister Malcolm Turnbull will propose using a chunk of Australia’s A$2.53 trillion ($1.99 trillion) pension savings pool to help unlock funding for Trump’s infrastructure push. He’s being joined on the trip by local money managers who help control the world’s fourth-largest pot of retirement savings.