The Future Fund has confirmed it has entered into a binding Implementation Agreement with the Australian Infrastructure Fund (AIX) that will see the nation’s sovereign wealth fund acquire all of the AIX’s portfolio assets.

 

The $2 billion deal will see the Future Fund acquire the following assets

  • 12.4% of Australia Pacific Airports Corporation  (Melbourne and Launceston Airports)
  • 29.7% of the Perth Airport group (Perth Airport)
  • 49.1% of Queensland Airports Limited  (Gold Coast, Townsville and Mount Isa Airports)
  • 28.2% of Airport Development Group (Darwin, Alice Springs and Tennant Creek Airports)
  • 40.0% of the equity in HOCHTIEF Airport Capital (interests in Sydney (6.5%), Hamburg (14.2%), Dusseldorf (10.0%) and Athens (13.3%) Airports)  
  • 6.25% of the equity and 100% of the Class B preference shares in Statewide Roads Limited. 

 

 

The deal is subject to approval of AIX share holders at the upcoming Extraordinary General Meeting, which is expected to be held in January next year.

 

David Neal, the Future Fund’s Chief Investment Officer, said the proposal is the continuation of the Fund’s on-going diversification of investment assets.

 

“Over the last five years, the Fund has been building its Tangible Assets program, comprising property, infrastructure and timberlands. The infrastructure program is now valued at over $4.7 billion or 5.9% of the portfolio,” Mr Neal said.