The NSW government’s $127 billion public investment arm, TCorp, has capitalized on the recent surge in US technology stocks to deliver another strong year of returns. The fund is now looking to expand its international investor base by issuing debt in currencies other than the Australian dollar, a move aimed at reducing its exposure to the AI-driven tech boom.
TCorp announced plans to broaden its international presence following a signal in August that it would diversify into private equity funds. This latest strategy shift underscores the fund’s efforts to mitigate risks associated with its heavy reliance on the volatile tech sector.
The decision to issue debt in foreign currencies reflects a broader trend among large investment funds to hedge against market fluctuations and geopolitical risks. By attracting a more diverse group of investors, TCorp aims to stabilize its portfolio and ensure long-term growth.