London, 11 May 2021
Macquarie Asset Management has today announced a £276 million financing agreement with funds managed by Equitix.
The agreement sees Macquarie Asset Management lend to two funds with investments in 95 infrastructure assets across the healthcare, education, social housing, waste, transport, transmission, and renewable energy sectors in the United Kingdom and Europe. The financing solution, which is comprised of inflation-linked and Sterling Overnight Index Average (SONIA)-linked debt, enables Equitix to refinance existing bank debt with long-term facilities tailored to the investment strategy of its funds.
Gareth Edwards, a Senior Vice President in Macquarie Asset Management’s Private Credit team, said “We are pleased to announce this innovative financing solution, providing Equitix with access to long-term capital that supports the investment objectives of its managed funds. This complex transaction is the product of extensive due diligence on a large and diverse portfolio of assets and includes a SONIA-linked issuance. We are delighted to offer this solution to Equitix and secure this attractive opportunity for our clients.”
Siôn Jones, Chief Operating Officer for Equitix assets, said: “We are very pleased to be working alongside Macquarie on this new financing for two of our mature funds. It will reduce risk to our investors and promote predictable, sustainable yields over the long-term.”
Macquarie Asset Management acted as sole lender to the funds, investing on behalf of its institutional clients as part of its growing private credit capability. Macquarie Asset Management’s Private Credit team has invested £7.8 billion on behalf of clients since 2012 across infrastructure, real estate, and structured solutions including fund finance and capital relief trades.
Macquarie Asset Management was advised by Linklaters. Equitix was advised by DC Advisory and Ashurst.
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Founded in 2007 and headquartered in London, Equitix is a leading infrastructure investment firm that manages over £7 billion through six core infrastructure flagship funds, co-investment funds dedicated to larger infrastructure projects and segregated managed accounts providing customised solutions to Equitix’s investor base.
The Manager’s investment strategy focuses on small to mid-cap infrastructure projects, covering a wide range of sectors and with a particular focus on social infrastructure and renewable energy. Across all of its core funds, Equitix seeks to hold assets for the life of their funds which is typically 25 years.
With over 300 core infrastructure projects acquired since the firm’s inception, Equitix has institutionalised its distinctive approach to infrastructure investing and has been exhibiting a predictable rate of deployment throughout its history. As a result, Equitix has established a strong reputation as a leading developer, trusted partner, operator and fiduciary fund manager.
Equitix has a team of over 250 professionals with offices in London, Glasgow, Frankfurt, Milan, Madrid, Seoul and Florida.
For further information, please visit Equitix.co.uk