Two executives from Macquarie Infrastructure and Real Assets have joined the board of Gardior after winning the mandate to manage The Infrastructure Fund in late 2018.
Head of MIRA Australia Grant Smith and head of MIRA Asia-Pacific Frank Kwok joined the Gardior board in December 2019.
Smith and Kwok now sit alongside QIEC Super chair Terry Burke, Sunsuper representative Andrew Agnew, former Energy Super chair Mark Williamson and Gardior chair and former Meat Industry Employees Super Fund chief executive Jon Addison.
The new board roles follow MIRA's appointment by Gardior to manage the $2.5 billion fund.
The appointment of MIRA was nothing short of dramatic; with former Gardior chair Bob Lette and two other directors being forced out over alleged refusal to endorse MIRA for the mandate after Gardior showed Hastings Funds Management the door.
Lette in particular was concerned with the conflicts of interest involved in appointing MIRA, specifically in relation to one of TIF's largest assets - the Port of Newcastle. At the time, MIRA co-owned a 49% stake in rail freight group Genesee & Wyoming Australia, the biggest customer of which is Glencore.
The Port of Newcastle and Glencore had been locked in lengthy legal battles over port fees and the port was concerned if MIRA was handed full control it would side with Glencore in any disputes.