Macquarie hangs fire on UK fund
(25 October 2006 – UK) Macquarie Bank has been thwarted in an attempt to list its first fund on a London stock exchange due to insufficient investor interest, according to reports in the UK.
The reports said it was thought the size of the fees the Bank was looking to charge had given investors cold feet.
Macquarie, for its part, said the bank had sounded out the market several months ago and had decided not to continue with the float.
The fund was due to be called Macquarie Growth Income Group and would have been floated on the Alternative Investment Market to raise money for more acquisitions.
Macquarie planned to put three of its investments, the Isle of Man Steam Packet ferries, the US car park group Icon and the airport trolley company Smarte Carte into the fund.
Macquarie, for its part, said the bank had sounded out the market several months ago and had decided not to continue with the float.
The fund was due to be called Macquarie Growth Income Group and would have been floated on the Alternative Investment Market to raise money for more acquisitions.
Macquarie planned to put three of its investments, the Isle of Man Steam Packet ferries, the US car park group Icon and the airport trolley company Smarte Carte into the fund.
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