MIIF sells remaining stake in European infra fund

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.