Latest news with #MacquarieAssetManagement
Yahoo
3 days ago
- Business
- Yahoo
Ontario Teachers' fund sells out of the airport business — for now
The Ontario Teachers' Pension Plan Board, a longtime investor in airports overseas, has sold its interests in the last three of them: Birmingham Airport, Bristol and London City Airport, all in the United Kingdom. The buyer is Macquarie Asset Management, and the price was not disclosed by either party. Beginning in the early 2000s, Teachers' gobbled up airports as part of the fund's growing infrastructure portfolio, which was seen as an excellent source for steady returns and a hedge against inflation risk. The global COVID-19 pandemic was challenging, forcing many airports to take on more debt after the virtual halt in air travel in March 2020. Then came the sluggish return to pre-pandemic traffic over many months. The news came on the heels of another airport announcement by the pension fund giant — a pioneer among Canadian institutional investors in the sector — which on June 13 said it was selling its stake in Brussels Airport Co. NV/SA to a Flemish public investment firm. While there have been other international airport sales this year by Canadian pension funds, including the Caisse de dépôt et placement du Québec selling off the last of its stake in London's Heathrow Airport in February, interest has increased in the domestic sector as the Canadian government looks for ways to entice institutional investors — including the country's large pension funds — to invest more at home. Deb Orida, chief executive of the Public Sector Pension Investment Board, said last week that her fund is looking to boost domestic investments and pointed to PSP Investments' expertise in airport infrastructure and operations through subsidiary AviAlliance, which purchased three airports this year in the United Kingdom: Aberdeen, Glasgow and Southampton. 'We have airport operating expertise, and capital to pair with that operating expertise,' Orida said. 'So, if the opportunity were to become available to invest in the Canadian airports, I think we would be very well positioned to do that and do it in a way that adds value not only to our pensioners, contributors and beneficiaries, but also to the users — the passengers of the airport.' Former Bank of Canada governor Stephen Poloz looked at ways to increase Canadian institutional investment in the country's airports last year, when he was tapped to lead a task force charged with boosting domestic pension investments. In March, the federal government laid the groundwork with a new policy statement from Transport Canada that said pension funds can enter commercial subleases to invest in and develop airport lands with the not-for-profit airport authorities that operate 22 major facilities across the country, including Toronto's Pearson International Airport. The statement laid out other avenues for institutional investment as well, including through for-profit share capital subsidiaries created by the airport authorities, which would allow investment on airport lands for developments such as terminals, hotels and shopping centres. The structure of these subsidiaries would allow private investors to buy or be issued shares, so long as the airport authority maintains a controlling interest. A third avenue for investment would allow institutional investors to provide subcontracted services for certain aspects of airport operations. On Wednesday, a Teachers' spokesperson declined to say whether the $266.3-billion pension fund would be interested in airport investments in Canada despite selling off international stakes. '(It's) too early to speculate on where the proceeds will be allocated,' Dan Madge said. He characterized the rapid unloading of airports in Europe and the United Kingdom over the past few months as the culmination of a long, successful run in the sector. 'It was a very good outcome for the fund,' he said. 'Our first investment was in the early 2000s, so it has been a long investment period for us.' Teachers' first investment in U.K. airport infrastructure was in 2001, and it bought direct stakes in the airports in Birmingham in 2007 and Bristol in 2008. Eight years later, Teachers' boosted its U.K. presence with the purchase of a 25 per cent stake in London City Airport, a regional hub for business and vacation travel. Together, the three airports manage tens of millions of passengers annually. Over the years, the Canadian pension giant has also bought and sold stakes in airports in major cities in Australia and Denmark. After Teachers' acquired its stake in Bristol's airport, traffic increased by 72 per cent, with the airport serving more airlines and boasting the fastest recovery among major U.K. airports following the global pandemic. More than £300 million has been invested in the airport over the last decade. Passenger growth at Birmingham increased by 35 per cent to more than 13 million after Teachers' acquired its stake, and more than £425 million has been invested in expansion and modernization over the past 18 years. The expansion included an extension of the runway, the opening of a new pier, a new baggage system, and upgraded security and check-in areas, while multiple new flight routes were added, with some 30 airlines connecting travellers to more than 165 destinations. Meanwhile, more than £600 million was invested in London City Airport to accommodate larger aircraft and expand facilities, with projects including the U.K.'s first remote digital air traffic control tower. Teachers' said the airports under its ownership also played a central role in regional economic growth, collectively contributing more than £3.7 billion in 'gross value added' and 37,600 jobs. 'Each airport plays an important role in its region and, with all currently undergoing expansion (programs), will continue to grow and deliver for their passengers, communities and the broader economy,' said Charles Thomazi, Teachers' senior managing director and head of infrastructure in Europe, the Middle East and Africa. Defence investments will be winners in Trump world: Teachers' CEO Ontario Teachers' Pension Plan says 1.9% return shows portfolio strategy is working 'We are confident that (the airports) will continue to flourish and are pleased to be passing the baton to new investors Macquarie as they support them in the next stage of their growth.' • Email: bshecter@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
AU Financial Review
3 days ago
- Business
- AU Financial Review
Macquarie Asset Management buys back into UK airports
Macquarie Group's infrastructure arm has acquired stakes in three United Kingdom airports from Canadian pension investor Ontario Teachers' Pension Plan, as it seeks to capitalise on a rebound in post-pandemic travel demand. The European infrastructure fund of Macquarie Asset Management (MAM) has bought a 55 per cent stake in Bristol Airport, 26.5 per cent of Birmingham Airport and a quarter stake in London City Airport. It comes a year after Macquarie pulled out of a bidding battle for a stake in London's Heathrow Airport, the busiest in Europe.
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
Macquarie Collects $8 Billion for Infrastructure Investments in the Americas
Macquarie Asset Management, one of the world's largest private infrastructure investors by assets under management, has closed its latest fund dedicated to investing in infrastructure projects and companies in the Americas. The investment arm of Australian financial services provider Macquarie Group collected a little over $6.8 billion for Macquarie Infrastructure Partners VI, the firm said, slightly less than a $6.9 billion predecessor pool that closed in 2021.
Business Wire
4 days ago
- Business
- Business Wire
Macquarie Asset Management Launches Focused International Core Equity ETF
NEW YORK--(BUSINESS WIRE)--Today, Macquarie Asset Management expanded its active exchange-traded fund (ETF) platform with the launch of Macquarie Focused International Core Equity ETF (EXUS). Managed by the firm's Global Equity Team, EXUS shares the same goal of delivering consistent returns, not market-leading returns at a high cost of risk, as Macquarie Asset Management's International Core Equity mutual fund. This new ETF seeks to capitalize on opportunities in international markets with 35-45 stocks with underappreciated long-run earnings drivers. EXUS utilizes the style-agnostic approach of Macquarie Asset Management's Global Equity Team, which oversees $US4.5 billion in assets 1. Through discipline and pragmatic risk management, the team takes granular stock-specific risks, while looking to minimize country and factor risks. 'We look for singles and doubles over home runs, in an effort to deliver consistent returns,' said Aditya Kapoor, Senior Portfolio Manager for Macquarie Asset Management's Global Equity Team. 'EXUS leverages our experienced team to invest in what we believe to be self-sustaining business models in a balanced and well-diversified portfolio that is designed to deliver attractive returns over the long term.' 'We are excited to offer investors access to our active international core equity strategy within the convenience of an ETF wrapper,' said Anthony Caruso, Head of ETF Strategy at Macquarie Asset Management. 'EXUS expands upon our current active equity-focused suite, providing investors with the breadth of our research capabilities in a curated portfolio of high-conviction developed international and emerging market securities.' To learn more about Macquarie Asset Management's global ETF platform, click here. About Macquarie Asset Management Macquarie Asset Management is a global asset manager, integrated across public and private markets. Trusted by institutions, governments, foundations and individuals to manage approximately $US588.1 billion in assets, we provide a diverse range of investment solutions including real assets, real estate, credit and equities & multi-asset. Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory, and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie Group employs over 20,000 people in 34 markets and is listed on the Australian Securities Exchange. All figures as at 31 March 2025. Carefully consider the Fund's investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Fund's prospectus or the summary prospectus. Mutual fund prospectuses may be obtained by visiting or calling 800 523-1918. For ETFs, please visit or call 844 469-9911. Read the prospectus carefully before investing. In April 2025, Macquarie Group Limited and Nomura Holding America Inc. (Nomura) announced that they had entered into an agreement for Nomura to acquire Macquarie Asset Management's US and European public investments business. The transaction is subject to customary closing conditions, including the receipt of applicable regulatory, client, and shareholder approvals. Subject to such approvals and the satisfaction of these conditions, the transaction is expected to close by the end of 2025. The Macquarie ETF Trust Funds are distributed by Foreside Financial Services, LLC. Foreside Financial Services, LLC is not affiliated with any Macquarie entity, including Macquarie Asset Management and Delaware Distributors, L.P. The Macquarie Funds are distributed by Delaware Distributors, L.P., a registered broker/dealer and member of the Financial Industry Regulatory Authority (FINRA) and an affiliate of Macquarie Investment Management Business Trust (MIMBT). Macquarie ETF Trust exchange-traded funds (ETFs) are actively managed and do not seek to replicate a specific index. ETF shares are bought and sold through an exchange at the then current market price, not net asset value (NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV when traded on an exchange. Brokerage commissions will reduce returns. There can be no guarantee that an active market for ETFs will develop or be maintained, or that the ETF's listing will continue or remain unchanged. The Funds are actively managed. The Manager applies a Fund's investment strategies and selects securities for the Fund in seeking to achieve the Fund's investment objective(s). There can be no guarantee that its decisions will produce the desired results, and securities selected by a Fund may not perform as well as the securities held by other exchange-traded funds with investment objectives that are similar to the investment objective(s) of the Fund. In general, investment decisions made by the Manager may not produce the anticipated returns, may cause a Fund's shares to lose value or may cause a Fund to perform less favorably than other exchange-traded funds with similar investment objectives. Investing in any exchange-traded fund involves the risk that you may lose part or all of the money you invest. Over time, the value of your investment in the Fund will increase and decrease according to changes in the value of the securities in the Fund's portfolio. An investment in the Fund may not be appropriate for all investors. As with all ETFs, shares of the Fund may be bought and sold in the secondary market at market prices. The Fund's NAV is calculated at the end of each business day and fluctuates with changes in the market value of the Fund's holdings, while the trading price of the shares fluctuates continuously throughout trading hours on the Exchange, based on both the relative market supply of, and demand for, the shares and the underlying value of the Fund's holdings. As a result, although it is expected that the market price of the Fund's shares will approximate the Fund's NAV, there may be times when the market price of the Fund's shares is more than the NAV intra-day (premium) or less than the NAV intra-day (discount). This risk is heightened in times of market volatility or periods of steep market declines. Nothing presented should be construed as a recommendation to purchase or sell any security or follow any investment technique or strategy. The Fund's principal risks include but are not limited to the following: Market risk is the risk that all or a majority of the securities in a certain market - such as the stock or bond market - will decline in value because of factors such as adverse political or economic conditions, future expectations, investor confidence, or heavy institutional selling. Foreign and emerging markets risk is the risk that international investing (particularly in emerging markets) may be adversely affected by political instability; changes in currency exchange rates; inefficient markets and higher transaction costs; foreign economic conditions; the imposition of economic or trade sanctions; or inadequate or different regulatory and accounting standards. The risk associated with international investing will be greater in emerging markets than in more developed foreign markets because, among other things, emerging markets may have less stable political and economic environments. In addition, there often is substantially less publicly available information about issuers and such information tends to be of a lesser quality. Economic markets and structures tend to be less mature and diverse and the securities markets may also be smaller, less liquid, and subject to greater price volatility. Company size risk is the risk that investments in small- and/or medium-sized companies may be more volatile than those of larger companies because of limited financial resources or dependence on narrow product lines. Liquidity risk is the possibility that investments cannot be readily sold within seven calendar days at approximately the price at which a fund has valued them. Industry and sector risk is the risk that the value of securities in a particular industry or sector (such as the infrastructure industry) will decline because of changing expectations for the performance of that industry or sector. Government and regulatory risk is the risk that governments or regulatory authorities may take actions that could adversely affect various sectors of the securities markets and affect fund performance. Geographic focus risk is the risk that local political and economic conditions could adversely affect the performance of a fund investing a substantial amount of assets in securities of issuers located in a single country or a limited number of countries. Adverse events in any one country within the Asia-Pacific region may impact the other countries in the region or Asia as a whole. As a result, adverse events in the region will generally have a greater effect on the Fund than if the Fund were more geographically diversified, which could result in greater volatility in the Fund's net asset value and losses. Markets in the greater China region can experience significant volatility due to social, economic, regulatory, and political uncertainties. Limited number of securities risk is the possibility that a single security's increase or decrease in value may have a greater impact on a fund's value and total return because the fund may hold larger positions in fewer securities than other funds. In addition, a fund that holds a limited number of securities may be more volatile than those funds that hold a greater number of securities. Growth stocks reflect projections of future earnings and revenue. These prices may rise or fall dramatically depending on whether those projections are met. These companies' stock prices may be more volatile, particularly over the short term. A nondiversified fund has the flexibility to invest as much as 50% of its assets in as few as two issuers with no single issuer accounting for more than 25% of the fund. The remaining 50% of its assets must be diversified so that no more than 5% of its assets are invested in the securities of a single issuer. Because a nondiversified fund may invest its assets in fewer issuers, the value of its shares may increase or decrease more rapidly than if it were fully diversified. Macquarie Asset Management (MAM) is the asset management division of Macquarie Group. MAM is an integrated asset manager across public and private markets offering a diverse range of capabilities, including real assets, real estate, credit, equities and multi-asset solutions. Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide. Macquarie Funds and Macquarie ETF Trust Funds refer to certain investment solutions that MAM distributes, offers, or advises. Investment advisory services are provided to the Macquarie Funds and Macquarie ETF Trust Funds by Delaware Management Company, a series of Macquarie Investment Management Business Trust (MIMBT), a Securities and Exchange Commission (SEC) registered investment adviser. Other than Macquarie Bank Limited ABN 46 008 583 542 ('Macquarie Bank'), any Macquarie Group entity noted in this document is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment. © 2025 Macquarie Management Holdings, Inc. Not FDIC Insured • No Bank Guarantee • May Lose Value All third-party marks cited are the property of their respective owners. [4567171-6/25 | MET-751879]
Yahoo
5 days ago
- Business
- Yahoo
Macquarie Asset Management Closes Macquarie Infrastructure Partners VI With Over $US8 Billion of Total Fund and Co-Investment Commitments
Successful MIP VI final close, with over US$6.8 billion of total Fund commitments, as well as another US$1.3 billion of closed and funded co-investment in MIP VI portfolio companies to date Approximately half of MIP VI Fund commitments from North American investors, higher than any previous Macquarie Infrastructure Partners vintage Over 70% of Fund commitments from investors that have previously invested with Macquarie Asset Management's Real Assets division NEW YORK, June 17, 2025--(BUSINESS WIRE)--Macquarie Asset Management today announced the final close of Macquarie Infrastructure Partners VI ("MIP VI" or the "Fund"), with over $US8 billion of total commitments, including over US$6.8 billion of Fund commitments as well as an additional US$1.3 billion of closed and funded co-investment in MIP VI portfolio companies to date. The co-investment completed to date alongside MIP VI is expected to increase further and builds on approximately $US8 billion of closed co-investment across the previous three MIP vintages. Macquarie Infrastructure Partners is Macquarie Asset Management's series of Americas-focused, unlisted infrastructure funds. MIP VI continues the investment philosophy and approach of the MIP platform, which has the longest track record of any infrastructure manager investing in the Americas region. This track record now spans more than 22 years of infrastructure investment expertise in the region and includes more than 55 portfolio company investments and 26 realizations. Consistent with prior MIP vintages, the Fund is focused on high-quality investments across the transportation, digital infrastructure, utilities and energy, and waste infrastructure sectors. MIP VI's investments to date include Diamond Infrastructure Solutions, SwyftFiber, TraPac Terminals, Montreal Metropolitan Airport and Coastal Waste & Recycling. MIP VI has attracted commitments from a diverse group of returning and new investors from around the world, including public and private pension plans, insurance companies, sovereign wealth funds, and investment managers. The Fund saw strong support from its existing investor base, with more than 70% of total commitments coming from investors that have previously invested with Macquarie Asset Management's Real Assets division. Notably, half of the fund commitments were from North American investors, marking the highest proportion of any MIP vintage to be sourced within North America. "We are grateful for the confidence that MIP VI investors have placed in us," said Leigh Harrison, Head of Real Assets for Macquarie Asset Management. "MIP VI's successful capital raise demonstrates investors' ongoing commitment to Macquarie Asset Management's expertise in infrastructure investment and our strong investment track record that spans more than 30 years around the world." "Our clients remain focused on allocating to infrastructure, due to the sector's ability to deliver stable returns as well as provide inflation protection and portfolio diversification benefits," said Karl Kuchel, CEO of Macquarie Infrastructure Partners. "We greatly appreciate investors' ongoing support, which recognizes our team's sector expertise, long-standing experience, and operational capabilities. This allows MIP to continue to access and develop a broad range of high-quality investment opportunities, partner with management teams, support portfolio company growth and create long-term value for our investors." Macquarie Asset Management is a pioneer in infrastructure investment and as one of the largest investors in real assets, Macquarie Asset Management's Real Assets division manages approximately $US209.9 billion across its infrastructure, green investments, and natural assets platforms.1 About Macquarie Asset Management Macquarie Asset Management is a global asset manager, integrated across public and private markets. Trusted by institutions, governments, foundations and individuals to manage approximately $US588.1 billion in assets, we provide a diverse range of investment solutions including real assets, real estate, credit and equities & multi-asset. Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory, and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie Group employs over 20,000 people in 34 markets and is listed on the Australian Securities Exchange. All figures as at 31 March 2025 unless otherwise noted. Important Notices (Macquarie Asset Management): None of the entities noted in this media release is an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and the obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (Macquarie Bank). Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these entities. In addition, if this media release relates to an investment (a) each investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group company guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment. 1 As at 31 March 2025. View source version on Contacts Lee +1-347-302-3000Rachel +1-310-800-4512
