Generations Fund’s seed asset would be a multi-billion-dollar stake in a new inner city toll road, WestConnex. : Australia’s most populous state, New South Wales, has launched an AUD3bn (€1.9bn) sovereign wealth fund. In his 2018-19 budget, the NSW state treasurer, Dominic Perrottet, announced that Generations Fund’s seed asset would be a multi-billion-dollar stake in a new inner city toll road project, WestConnex. The AUD16.8bn project, which is currently under construction, will link Sydney’s Western suburbs with the rest of the city.