Sydney-based fund manager 4D Infrastructure has sold its stake in Edison International following footage of a transmission line ablaze during the California bushfires in early January. Sarah Shaw, the chief executive officer, made the decision to divest on January 11, after holding the shares since 2023. Shaw noted that while other utilities in the region had taken precautionary measures by shutting down their networks, Edison appeared not to have done so.
Sarah Shaw has been investing in publicly listed infrastructure for over two decades. Her experience includes roles at ClearBridge Investments (formerly RARE Infrastructure), where she managed the emerging markets fund, and the AMP-Brookfield joint venture. 4D Infrastructure, established in 2015 with Bennelong Funds Management, specialises in infrastructure investments. The company, led by Shaw as both CEO and chief investment officer, operates with a team of seven, where she holds ultimate responsibility for all stock selections.
Despite the Edison International disposal, 4D Infrastructure has experienced positive performance over the past year. The fund has generated returns of 16.5 per cent after fees, significantly outperforming its benchmark of G7 inflation plus 5.5 per cent, which yielded 8 per cent. This highlights the fund’s successful investment strategies across its broader portfolio, even with the noted concerns regarding Edison International’s operational decisions.
