Not for release or distribution in the US
AMP Capital has increased its managed stake in Australia Pacific Airports Corporation (APAC), the owner of Melbourne and Launceston Airports, after exercising its pre-emptive rights on behalf of its funds and clients.
Financial close has been reached on the deal, with AMP Capital acquiring an additional managed stake of A$157 million or 3.5 per cent. AMP Capital now manages 45.3 per cent of APAC on behalf of its funds and clients.
AMP Capital has long-standing experience investing in the aviation sector. In 2012 AMP Capital took a 49 per cent interest in Newcastle International Airport in the UK and it has managed an investment in Melbourne Airport since 1997 when the airport was privatised, and Launceston Airport since 1998.
AMP Capital’s Head of Infrastructure Australia and New Zealand Paul Foster said: “As the largest shareholder we’re really pleased to increase our stake in APAC on behalf of our funds and clients.
“Melbourne Airport is one of the best performing airports in the world and it serves around 29 million domestic and international passengers per annum.
“The additional investment has been funded by a broad range of our Australian superannuation fund clients who had strong appetite to increase their exposure to a high quality core infrastructure asset which has delivered strong returns since inception,” Mr Foster said.
About AMP Capital
AMP Capital is a specialist investment manager with over A$128 billion in funds under management as at 31 December 2012 and more than 250 investment professionals. AMP Capital is one of the most experienced global infrastructure managers with more than 20 years’ experience – and was one of the first to invest in infrastructure when it participated in the financing of the Sydney Harbour Tunnel in 1988.
AMP Capital today manages unlisted and listed infrastructure investments in Asia, Europe, North America, Australia and New Zealand.
AMP Capital is a subsidiary of AMP Limited. Established in 1849, AMP has more than 160 years of experience providing financial services, and is one Australia's largest retail and corporate pension providers.