Infrastructure funds

ADCB Macquarie Infrastructure Fund (AMIF) was launched in 2008 to invest in infrastructure and infrastructure-like assets in the Middle East and North Africa, with a primary focus on the Gulf Cooperation Council countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates).

AMIF is an unlisted 10-year closed-end fund. AMIF was launched in 2008 to invest in infrastructure and infrastructure-like assets in the Middle East and North Africa, with a primary focus on the Gulf Cooperation Council countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE)).

AMIF has a $US1 billion targeted fund size and is co-sponsored by Macquarie and Abu Dhabi Commercial Bank (ADCB) — Macquarie’s joint venture partner in the UAE. Macquarie and ADCB have operated a successful investment banking joint venture since 2005, which has advised on numerous infrastructure-related transactions across the UAE.

Target assets

AMIF seeks to invest in greenfield (pre-operations stage) or brownfield (operations stage) assets in a range of infrastructure sectors, including but not limited to infrastructure for industrial and mixed-use developments, water and wastewater utilities, ports, airports, rail networks, communications infrastructure, electricity generation / transmission and distribution networks, gas transmission and distribution networks, district cooling, social infrastructure and other assets that fall within AMIF’s investment criteria.

Assets

AMIF has made one investment to date, a $US188 million investment which will support critical industrial infrastructure developments commissioned by ZonesCorp, an independent government authority owned by the Abu Dhabi Government through the Abu Dhabi Department of Planning and Economy.

ZonesCorp was established in 2004 and acts as a vehicle for the development of infrastructure in industrial zones located in the Emirate of Abu Dhabi.

Contact

Tareq Rebhi Sirhan
Chief Executive Officer
Call: +971 2 696 2154

African Infrastructure Investment Managers (AIIM)

AIIM was established in 2000 as a joint venture between Macquarie and the Old Mutual Investment Group (South Africa) (OMIGSA), to manage the South Africa Infrastructure Fund (SAIF). OMIGSA is recognised as a leading investor in infrastructure assets in Southern Africa. In addition, it is a prominent South African fund manager, managing life insurance and unit trust assets and linked products. AIIM has positioned itself as one of the leading unlisted infrastructure equity investment managers in the African market.

The AIIM team is one of the most experienced infrastructure transaction teams in Africa and has extensive experience in asset optimisation and governance, including board management expertise in toll roads, airports, telecommunications companies and power assets.

AIIM is the manager of a group of niche funds designed to invest long-term institutional equity in African infrastructure projects.

South Africa Infrastructure Fund (SAIF)

AIIM has successfully managed SAIF for more than 10 years. It has demonstrated a high level of expertise in the Southern African market across a range of activities including due diligence, acquisitions, divestments, and ongoing management and optimisation.

SAIF is fully invested and closed to new investors. The SAIF investment portfolio consists of significant investments in toll road infrastructure assets, including:

• Bakwena Platinum Corridor Concessionaire (Pty) Ltd, a 30 year concession contract to design, construct, finance, operate, and maintain the 95km section of the N1 from Pretoria northwards to Warmbaths and a 290km section of the N4 running from Pretoria westwards to the Botswana border;
• N3 Toll Concession (Pty) Ltd, a 30 year concession to operate a 420km toll road on the N3 between Cedara in Kwa Zulu Natal and Heidelberg in Gauteng; and
• Trans African Concessions (Pty) Ltd, a 30 year concession to operate a 580km toll road on the N4 between Witbank in South Africa and Maputo in Mozambique, the key route of the Maputo development corridor.

African Infrastructure Investment Fund (AIIF)

AIIF was established as a successor fund to SAIF, targeting assets in Africa with a bias towards South African investments. AIIF was established in 2004, with total investor commitments of ZAR1.32 billion. The fund is closed to new investors and was fully committed in January 2009.

AIIF has largely focused on transport assets in South Africa and Nigeria, but also has stakes in telecommunications and power assets. The AIIF investment portfolio includes:

• N3 Toll Concession (Pty) Ltd, a 30 year concession to operate a 420km toll road on the N3 between Cedara in Kwa Zulu Natal and Heidelberg in Gauteng; and
• Trans African Concessions (Pty) Ltd, a 30 year concession to operate a 580km toll road on the N4 between Witbank in South Africa and Maputo in Mozambique, the key route of the Maputo development corridor.
• Kelvin Power (Pty) Ltd, a 600MW coal-fired power plant located in Johannesburg, South Africa. The plant is one of the few privately owned power plants in the country;
• Neotel (Pty) Ltd, a telecommunications infrastructure service provider and the holder of the second fixed line network licence in South Africa;
• Lekki Concession Company Ltd, the holder of a 30 year concession to build, finance and operate a 50km commuter toll road in the city of Lagos, Nigeria; and
• Umoya Energy (Pty) Ltd, the developer of a 100MW wind farm in the Western Cape, South Africa.

Kagiso Infrastructure Empowerment Fund (KIEF)

KIEF was established in 2006. Its principal objective is to achieve attractive medium- to long-term returns through equity investments in infrastructure projects within South Africa, whilst actively seeking to further the Black Economic Empowerment aspirations of both Government and investors.

KIEF has committed capital of ZAR649 million and is closed to new investors. AIIF and KIEF enjoy a co-investment arrangement. The KIEF investment portfolio consists of investments in power, roads and telecommunications assets including:

• Kelvin Power (Pty) Ltd, a 600MW coal-fired power plant located in Johannesburg, South Africa. The plant is one of the few privately owned power plants in the country;
• Neotel (Pty) Ltd, a telecommunications infrastructure service provider and the holder of the second fixed line network licence in South Africa;
• Trans African Concessions (Pty) Ltd, a 30 year concession to operate a 580km toll road on the N4 between Witbank in South Africa and Maputo in Mozambique, the key route of the Maputo development corridor;
• Bakwena Platinum Corridor Concessionaire (Pty) Ltd, a 30 year concession contract to design, construct, finance, operate, and maintain the 95km section of the N1 from Pretoria northwards to Warmbaths and a 290km section of the N4 running from Pretoria westwards to the Botswana border; and
• Umoya Energy (Pty) Ltd, the developer of a 100MW wind farm in the Western Cape, South Africa.

Contact

Call: +27 21 670 1234

DUET Group (ASX code DUE) is an investment fund principally investing in Australian and New Zealand utility and energy assets.

Call: +61 2 9257 1436 or 1800 005 049
Email: duet@duet.net.au
Website: www.duet.net.au

Global Infrastructure Fund's (GIF) are 10-year closed-end funds focusing on infrastructure investments in OECD countries.

Website: macquarie.com/mgl/com/gif

Macquarie Atlas Roads (ASX code MQA) is a global toll road developer and operator.

Call: 1800 621 694
Website: www.macquarie.com/mgl/com/mqa

Macquarie European Infrastructure Fund 1 (MEIF 1) is a €1.5bn wholesale investment fund that was established to invest in infrastructure and related businesses located in European OECD countries. Now fully invested, MEIF 1 aims to deliver sustainable cash yields and moderate capital growth from its diversified portfolio of quality infrastructure investments.

Website: www.macquarie.com/meif1

Macquarie European Infrastructure Fund 2 (MEIF2) was launched following the success of MEIF 1, to take advantage of the growing number of infrastructure investment opportunities within the expanding European Union. MEIF 2 is a €4.6bn wholesale fund that invests in businesses which:

• provide an essential service to the community
• have a strong competitive position
• generate stable cashflows over the long term.

Website: www.macquarie.com/meif2

Macquarie European Infrastructure Fund 3 (MEIF3) was launched following the success of MEIF 1 and MEIF 2, to take advantage of the growing number of infrastructure investment opportunities within the expanding European Union. MEIF 3 had its final close in March 2010 with total investor commitments of €1.2 bn. Like its successful predecessor funds, MEIF3 invests in businesses which:

• provide an essential service to the community
• have a strong competitive position
• generate stable cashflows over the long term.

Website: www.macquarie.com/meif3

Macquarie Infrastructure Company (NYSE code MIC) owns, operates and invests in a diversified group of infrastructure businesses in the US and other developed countries.

Call: +1 212 231 1825
Email: mic@macquarie.com
Website: www.macquarie.com/mic

Macquarie International Infrastructure Fund (SGX code M41) has been formed to own, operate and invest in a diversified group of infrastructure businesses around the world.

Call: +65 6231 1111
Email: miif@macquarie.com
Website: www.macquarie.com/miif

Macquarie Korea Infrastructure Fund (KRX code 088980, LSE code MKIF) is an investment company providing Korean institutional investors with diversified exposure to local infrastructure assets.

Call: +822 3705 4921
Email: mkif@macquarie.com
Website: www.macquarie.com/mkif

Macquarie SBI Infrastructure Fund (MSIF) is an unlisted fund with approximately $US910 million of committed capital.  MSIF is an unlisted private equity style infrastructure fund and provides its investors (located outside India) with access to the growing number of investment opportunities available to the private sector in India’s infrastructure and infrastructure-like assets.

MSIF was closed to investors in October 2010 and is not open to new commitments.

Contact:
Robert Thorpe
Call: +65 6601 0784
Email: msif@macquarie.com
Website: www.macquariesbi.com

SBI Macquarie Infrastructure Trust (SMIT) is an unlisted fund with approximately INR 11,870 million of committed capital.  SMIT is an unlisted private equity style infrastructure fund and provides its investors (located in India) with access to the growing number of investment opportunities available to the private sector in India’s infrastructure and infrastructure-like assets.

SMIT was closed to investors in March 2011 and is not open to new commitments.

Contact:
Suresh Goyal
Call: +91 6720 4011
Website: www.sbimacquarie.com

ZonesCorp Infrastructure Fund (ZIF) was launched in April 2006 to invest in infrastructure and related assets in industrial and commercial zones predominantly located in the United Arab Emirates (UAE).

Objective

ZonesCorp is an independent entity owned by the Abu Dhabi Government through the Department of Planning and Economy. ZonesCorp was established in 2004 to promote investments in the Emirate of Abu Dhabi.

ZIF invests in ZonesCorp-commissioned infrastructure projects in the UAE as part of an integrated approach to the delivery of industrial infrastructure in the Emirate of Abu Dhabi, and helps facilitate attracting local and foreign businesses to the region. This includes the development of world-class infrastructure for industrial zones, such as road and irrigation networks, wastewater utilities and electricity transmission and distribution networks.

Assets

ZIF currently has interests in four projects:

• ICAD II Limited LLC, the company granted the concession from ZonesCorp to design, build and finance the infrastructure of the Industrial City of Abu Dhabi — Extension Phase I (ICAD II). The concession term is 30 years following the completion of the construction period in October 2007.
• AAIC Project LLC, the company granted the concession from ZonesCorp to design, build, finance the infrastructure of the Al Ain Industrial City. The concession term is 30 years following the completion of the construction period in February 2008.
• ICAD III Limited LLC, the company granted the concession from ZonesCorp to design, build, finance the infrastructure of the Industrial City of Abu Dhabi — Extension Phase II, is situated on a 12km2 site adjoining the ICAD II. The concession term is 30 years following the 18 month construction period.
• ICAD Industrial Waste Treatment Services LLC, the company granted the concession from ZonesCorp to design, build, finance, and operate, for an initial period of five years, an industrial effluent treatment plant to service the ICAD projects. The design-build-finance component of the concession is a term of 30 years following the 18 month construction period.

Contact

Peter McCreanor
Chief Executive Officer
Call: (971 2) 696 2049