Macquarie boosts Korean assets
(16 March 2004 – Australia) Macquarie Bank’s Korean Road Infrastructure Fund (KRIF) has snapped up two infrastructure assets in South Korea.
The fund has purchased a 99 percent stake in Baekyang Tunnel for $146 million as well as a 49 percent stake in Machang Bridge for $93 million.
The bank said the investments were unique to the Korean private infrastructure market and fitted well with KRIF’s strategy of investing in high yielding infrastructure assets with long concession rights.
KRIF managing director Nick van Gelder said the deals strengthened the fund and illustrated the infrastructure investment opportunities available in South Korea.
The bank said the fund had raised $734 million from pension funds and insurance companies in South Korea.
The bank said the investments were unique to the Korean private infrastructure market and fitted well with KRIF’s strategy of investing in high yielding infrastructure assets with long concession rights.
KRIF managing director Nick van Gelder said the deals strengthened the fund and illustrated the infrastructure investment opportunities available in South Korea.
The bank said the fund had raised $734 million from pension funds and insurance companies in South Korea.
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