ART agrees to sell Epic Energy to Morgan Stanley Infra

Australian Retirement Trust has agreed to sell Epic Energy to Morgan Stanley Infrastructure Partners, ending a 13-year investment in the energy infrastructure company that was managed by QIC.

The buyer will acquire Epic Energy through investment funds managed by Morgan Stanley Infrastructure Partners’ private infrastructure investment platform. The transaction is expected to close in the second half of 2026, subject to customary regulatory approvals.

Financial terms were not disclosed by ART or Morgan Stanley, though the deal has been reported to value Epic Energy at approximately $1 billion.

Based in Adelaide, Epic Energy owns and operates the Moomba to Adelaide Pipeline System and the South East Pipeline System in South Australia. Those pipelines transport gas used across electricity generation, distribution and industrial sectors.

Alongside its gas pipeline operations, Epic Energy has also built a renewable energy portfolio that includes wind farms, solar infrastructure and an Adelaide microgrid.

ART said the company had expanded its renewable assets while continuing to run critical gas transmission infrastructure during the fund’s ownership.

"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.

The superannuation fund described the sale as part of its ongoing portfolio management rather than a broader move away from infrastructure investments.

"ART regularly reviews opportunities to buy, hold and sell assets as part of our long-term approach to investing on behalf of our 2.4 million members", the fund said.

"This transaction reflects our ongoing focus on active portfolio management and delivering strong long-term outcomes."

ART also said its broader investment strategy remained centered on diversification and assets tied to essential services.

"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 added that Epic Energy had contributed to jobs and economic activity during the period of ownership and said it saw a solid outlook for the company under new ownership.

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

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