Real Assets


Sustainable Australian Real Assets Fund (SARA) is available to institutional clients only.

SARA is a pure-play energy transition fund which invests in sustainable infrastructure including renewable generation, battery storage, bio-energy and waste-to-energy projects.

Summary and objectives

To deploy up to $1 billion of capital, with targeted risk-adjusted returns of 15%+ per annum over the fund life.

Sustainable real assets

Large scale market opportunity

Portfolio diversified by location and technologies

Partner with experienced Federation team


includes access to Windlab’s 9GW development pipeline

per annum

target equity return over the fund life


target investment size over the next four years

ESG is at our core


Attractive risk-adjusted returns for infrastructure

SARA is a 10-year close-ended fund with a 15%+ per annum equity return target over the fund life.

Enormous and immediate opportunity set

Once-in-a-generation capital formation event where the Australian Energy Market Operator’s forecast implies Australia’s energy transition will require >$100 billion of investment on new-build sustainable infrastructure by 2030.

Scalable and diversified platform

Risk mitigation through diversification of technology, geography, contracting party and investment across both development and operating assets.

‘Platforms and portfolios’ approach

Designed to gain captive options over a diversified portfolio of renewable assets, developments and technologies.

Proprietary opportunities

Strong proprietary pipeline of >20GW, representing an equity deployment opportunity of >$20 billion, $3 billion executable within the next 12 months.

Experienced and seasoned team

Federation’s core investment team are ex-senior members of Macquarie’s Principal Investment team with a combined track record of 23.3% per annum return on $2.9 billion of exited infrastructure investments since 2011.

Sustainability-related disclosures

The sustainability-related disclosures referred to in Article 10 of Regulation (EU) 2019/2088 can be found by clicking the link below.