13.03.2015 - Super funds lament lack of local infrastructure opportunities
Industry super funds have highlighted a lack of local infrastructure opportunities that is driving them to look offshore as their jointly owned fund manager IFM Investors spent $7.2 billion buying a US toll road out of bankruptcy. In its biggest equity investment to date, IFM Investors paid out banks and hedge funds that controlled the Indiana Toll Roadway, formerly owned by Macquarie Group and Spain’s Cintra. The 253km toll road linking the US Midwest to Chicago is the latest in a string of offshore purchases by IFM, including debt and equity in a US liquefied natural gas export terminal development, a US east coast oil pipeline, a stake in the Vienna Airport in Austria and the Manchester Airports Group in Britain...............................................Full Article: Source
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