(Bloomberg) -- Australian Retirement Trust has become the country’s latest pension fund to open a London office, as the fast-growing retirement sector hunts for deals beyond its backyard.

With more than 40% of investments outside of Australia, the A$280 billion ($181 billion) fund is seeking to further capitalize on global opportunities, according to a statement Wednesday. The fund has over A$25 billion of assets in the UK and Europe, and will work with external investment managers to build on that.

“We look forward to capitalizing on suitable infrastructure and real estate investments in the UK and Europe that our members will benefit from into retirement,” Head of Global Real Assets Michael Weaver said in the statement.

Read more: Two Australia Pension Giants Pledge $19 Billion for UK, Europe

Some key players in Australia’s A$3.7 trillion pensions industry have already made big inroads into the UK and Europe. AustralianSuper, the largest fund, recently pledged to pour more than 8 billion pounds ($9.9 billion) into UK investments over the next six years. Both that fund and Aware Super also have London offices and are hiring to build them out. 

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