Could Macquarie Asset Management See Major Changes in its Airport Investment Portfolio in 2024?

Justin Lee

Singapore

July 31, 2024

Perth 1

© JarrahTree / Wikipedia

The past twelve months have seen an increasing activity in the airport transactions market in the United Kingdom and Australia. Could this result in a possible shift in the airport investment portfolio of Macquarie Asset Management (MAM), which has investments in airports of both countries?

In December 2023, media reported that Macquarie Asset Management is set to hold a unitholder vote on a proposal to wind up The Infrastructure Fund, the open-end vehicle used by MAM to invest in Queensland Airports (which runs Gold Coast, Townsville and Mount Isa Airports), North Queensland Airports (which runs Cairns and Mackay Airport) as well as Perth Airport.

The timing of the vote had been under discussion, but a source familiar with the process said it would be held in early 2024.

As part of the proposal, MAM would have a five-year window in which to sell the fund’s assets in what one source described as “an orderly and managed process”.

While the winding up of the The Infrastructure Fund has not been formally announced in public, The Infrastructure Fund has been putting up its stakes in Perth Airport, Queensland Airports and North Queensland Airports for sale.

Cairns 1

© Arne Müseler / arne-mueseler.com / CC-BY-SA-3.0

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