Australia’s Challenger Financial Services Group has upped its stake in its Challenger Infrastructure Fund, the listed infrastructure investment firm it manages.
In late December, Challenger Financial Services bought an additional 1.4 million common shares in the Challenger Infrastructure Fund, according to a regulatory filing.
The purchase will take its voting interest in the fund up from 37.09 percent to 38.09 percent, according to the filing.
Australian Stock-Exchange listed Challenger Infrastructure Fund invests in regulated and monopoly-like infrastructure assets. Its portfolio consist of Inexus, an 80.4 percent-owned UK gas transport business, and LBC Terminals, a 66.2 percent-owned bulk chemical terminal operator in North America, Europe and Asia.
The Inexus business recently won a contract to provide utility services to London’s King’s Cross Central development, a multi-use re-development of 67 acres of land in the city, Challenger Infrastructure Fund said in a statement.
The fund opened trading in 2006 at A$1.75 per share. Most recently, it closed on A$1.78 per share.
Challenger ups stake in listed infra fund
The Australian financial services firm now owns 38% of the Challenger Infrastructure Fund, whose portfolio company Inexus recently won a contract to provide utility services to London’s King’s Cross Central development.
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