Major Pension Funds Paying For Our Own United States Buyout? More than 10 BILLION dollars Somervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


Major Pension Funds Paying For Our Own United States Buyout? More than 10 BILLION dollars

2 May 2007 at 1:51:08 PM

I don't know who invests in Macquarie but it obviously includes not only anonymous United States investors but companies who are gambling their employees pensions.

Headquartered in New York and established in May 2006, MIP is a diversified unlisted fund focusing on infrastructure and infrastructure-like investments in North America. The majority of MIP's investors are North American and represent a broad range of investor types including public pension funds, corporate pension funds, insurance companies, endowments & foundations, Taft-Hartley funds and high-net-worth clients.

Isn't that sort of like paying someone to shoot you in the foot?

The Macquarie Group today announced that it has closed two new infrastructure funds, raising a total of more than US$10 billion from major pension funds and other institutional investors around the world.

    -- Macquarie Infrastructure Partners (MIP), a US$4bn fund, will invest in
infrastructure and infrastructure-like assets in North America.

-- Macquarie European Infrastructure Fund II (MEIF II), which confirmed
commitments of US$6.3bn (euro 4.6bn), will invest in a diversified
portfolio of eight to 15 infrastructure assets located across the
expanding European Union.

To date, the two funds have committed to invest a total of US$4.5bn, or 44 per cent of funds raised, in 13 assets across sectors including toll roads, ports, utilities and telecommunication infrastructure (see detailed list below).

What exactly has Macquarie invested in?

To date MIP has invested or committed to invest US$1.5bn in:

    -- Duquesne Light Holdings, the regulated electric utility serving the
       city of Pittsburgh, Pennsylvania, and surrounding areas

    -- Aquarion Company, the largest regulated water utility in New England

    -- Halterm, a container port terminal located in Halifax, Nova Scotia

    -- Fraser Surrey Docks, a container and breakbulk port terminal located in
       Vancouver, British Columbia

    -- Indiana Toll Road, a 157 mile toll road spanning the full length of
       northern Indiana

    -- Chicago Skyway, an 8 mile toll road in southern Chicago, Illinois

    -- South Bay Expressway, a new 9 mile toll road opening in 2007 near San
       Diego, California

    -- Dulles Greenway, a 14 mile toll road in Loudoun County, Virginia

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