Jul 26, 2026 – 4.02pmWall Street giant Morgan Stanley’s infrastructure investment arm has agreed to pay $1 billion for Epic Energy, a business that owns critical gas pipeline infrastructure in South Australia and has built a 154-megawatt green power portfolio.Morgan Stanley Infrastructure over the weekend signed a deal to acquire 100 per cent of Epic Energy from Queensland government-owned investor QIC, which manages the investment on behalf of country’s second-largest superannuation fund Australian Retirement Trust.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Angira Bharadwaj is a co-editor of Street Talk. She covers IPOs, capital raises, mergers and acquisitions and other breaking news in Australia’s capital markets. Previously, she covered financial services, state, and federal politics. Send tips to @angirab.60 on encrypted messaging platform Signal.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
QIC sells gas pipelines owner Epic Energy for $1b to Wall Street giant
Should the deal attain regulatory approvals as expected, it would mark the $US18 billion-plus ($25.8 billion) infrastructure investor’s third investment in Australia.
TL;DRAI
Morgan Stanley Infrastructure buys Epic Energy from QIC for $1B, securing Australian gas pipelines and 154MW green power. Deal signals capital reallocation to critical infrastructure; energy costs increasingly central to enterprise IT budgeting and ESG policy.
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