MIIF sells remaining stake in European infra fund

Macquarie International Infrastructure fund has netted just over $50m from the stake sale. Its portfolio is now mostly made up of direct investments in Asia.

The Macquarie International Infrastructure Fund (MIIF) has sold its remaining 1.8 percent stake in the Macquarie European Infrastructure Fund to a number of undisclosed financial investors for $50.4 million.
The sale follows the divestment of a 4.5 percent interest in October and will allow the fund to realise an internal rate of return of about 4.6 percent. MIIF’s entire 6.3 percent stake in MEIF was sold for $182 million compared to the sum of almost $195 million it spent acquiring the stake in 2005. But MIIF said it has received total distributions of almost $56 million from this investment.
MIIF’s portfolio now consists almost entirely of direct investments, primarily in Asia.