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With a vote set for early 2024, Macquarie will have a five-year window to sell the fund’s assets, should it be approved.
Macquarie will seed a new core renewable energy fund with some of its $2bn portfolio of assets, as exits slow.
Selling assets at a premium should help placate investors worried about HICL’s discounted share price, InfraRed’s Edward Hunt tells us.
The decision is the first time the ACCC has blocked a Transurban toll road deal and opens the door for other investors to acquire a majority stake in EastLink.
The Infrastructure Fund is facing a large redemption queue as merging Australian superfunds seek to rebalance portfolios.
Selling today means giving up the potential for future income and value growth. But a partial divestment offers access to liquidity and the ability to demonstrate value creation, without the pitfalls of a full exit or raising debt, says RealPort CIO Jon Boles
University of Wollongong exercises right to buy back accommodation units early, resulting in its withdrawal from the process and prompting asset manager to reconsider the portfolio sale.
The European renewables manager’s final asset sale this week realises a fund launched during the collapse of Lehman Brothers.
The firm agreed the sale of Portuguese toll road operator to APG, NPS and Swiss Life last week, the final asset of its €2.2bn first fund.
The sale of Tramlink in the UK to Aberdeen Standard represents the final sale of the €170m 2008-vintage fund, which secured a 15% gross return.