Macquarie, CPPIB create joint venture

The two firms have formed ‘Media and Communication Partners’, a London-based joint venture that will manage European communications and infrastructure assets. Last year, Macquarie sold its Sydney-listed communications infrastructure investment fund to the Canada Pension Plan Investment Board for A$1.64bn.

Macquarie Group, the largest manager of private infrastructure assets worldwide, has teamed up with the Canada Pension Plan Investment Board, the second-largest pension in Canada, to jointly manage European communications and media infrastructure assets.

The two firms recently created an independent joint venture called “Media and Communication Partners” that will manage the assets out of an office in London.

The creation of the joint venture was disclosed in a job advertisement on the Macquarie careers website. Macquarie said it was looking for “talented analysts” to join Media and Communications Partners in London. 

The creation of Media and Communication Partners follows the sale of the Macquarie Communications Infrastructure Group, a Sydney-listed fund managed by Macquarie, to CPPIB for A$1.64 billion (€1.2 billion; $1.4 billion).

That transaction, which closed last year, gave the C$127.6 billion (€100 billion; $122 billion) pension plan stakes in several communication infrastructure assets formerly owned by Macquarie. These included UK broadcast transmission provider Arqiva (48 percent), UK emergency communication service provider Airwave (50 percent) and Broadcast Australia, an Australian broadcast transmission provider (100 percent).

A spokesperson for CPPIB declined to comment.