QIC Limited (The Queensland Investment Corporation) is understood to have left the competition for AustralianSuper's $2 billion-odd stake in Alpha Distribution Ministerial Holding Corporation (Ausgrid), leaving mainly offshore pension funds and private equity groups to battle it out. Bids for the 16% stake are believed to be due in the week starting October 11, 2021 in a competition advised by Barrenjoey Capital and Jefferies. QIC was advised by Citi.

Brookfield Asset Management Inc. (TSX:BAM.A) and Ontario Teachers' Pension Plan Board in partnership with PSP and KKR & Co. Inc. (NYSE:KKR) (Kohlberg Kravis Roberts) are understood to be still in the contest. The consortium is advised by Gresham.

APG Algemene Pensioen Groep N.V. (APG) is also in the mix, with Credit Suisse as its adviser, while Macquarie Infrastructure and Real Assets Pty Limited is advised by Royal Bank of Canada and Macquarie Capital.