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Macquarie Australian Infrastructure Management 2
Macquarie Australian Infrastructure Management 2 Limited was established around 2011 as a distinct investment vehicle within Macquarie Asset Management's...
Macquarie Australian Infrastructure Management 2
Macquarie Australian Infrastructure Management 2 Limited was established around 2011 as a distinct investment vehicle within Macquarie Asset Management's infrastructure platform. The firm manages a portfolio concentrated on Australian infrastructure assets, drawing on Macquarie's global track record as one of the world's largest infrastructure investors. It operates as a separate legal entity but benefits from Macquarie's internal sourcing and asset management resources. The fund pursues a strategy of investing in essential infrastructure assets — primarily regulated utilities, toll roads, airports, ports, and renewable energy projects — across Australia. Known positions include stakes in New South Wales electricity distributor Ausgrid, Sydney's WestConnex motorway, and the Queensland Motorways network. The fund also participates in energy transition assets such as wind and solar farms, often alongside Macquarie's Green Investment Group. Geographic focus is wholly Australian. Macquarie Australian Infrastructure Management 2 manages over A$10B in committed capital through closed-end funds and co-investment structures. The firm maintains a small investment team in Sydney, with Macquarie Asset Management employing roughly 1,500 professionals globally across its infrastructure, real assets, and securities divisions. A notable recent development: In March 2024, Macquarie Asset Management closed its sixth European infrastructure fund at €8B, though Macquarie Australian Infrastructure Management 2's Australian vehicles remain operationally separate. A structural differentiator is the fund's permanent capital-like profile within Macquarie's broader asset management platform. Unlike standalone funds, Macquarie's infrastructure funds can access internal capital from Macquarie's balance sheet for co-investments and retain portfolio companies across multiple fund vintages. This enables longer hold periods and lower turnover relative to typical closed-end infrastructure funds.
General information
Firm type
Infrastructure Fund Manager
Year founded
2011
AUM
Over A$10B (per Macquarie, 2024)
Location
Region
Oceania
Country
Australia
City
Sydney
Corporate office
Sydney, New South Wales, Australia
Principals
Nicholas O'Kane
Chief Executive Officer, Macquarie Asset Management
Sector focus
Frequently asked questions
Who manages investment decisions at Macquarie Australian Infrastructure Management 2?
Nick O'Kane, CEO of Macquarie Asset Management, oversees the broader infrastructure platform. The Australian infrastructure funds are managed by a dedicated investment team in Sydney, led by senior managing directors including Michael Lukin and Elizabeth O'Leary (per Macquarie's public filings, 2024). Investment decisions follow Macquarie's institutional governance framework with separate investment committees for each fund.
How does Macquarie Australian Infrastructure Management 2 source deal flow?
The fund leverages Macquarie Group's global infrastructure network, including its investment banking and M&A advisory operations, to source proprietary opportunities. Macquarie's global infrastructure team maintains relationships with governments, regulators, and infrastructure operators across Australia. The fund also participates in public-to-private transactions and brownfield asset acquisitions (per Macquarie's investor materials, 2023).
What types of infrastructure assets does the fund typically invest in?
The fund invests across regulated utilities, toll roads, airports, ports, renewable energy, and digital infrastructure. Known holdings include electricity distribution networks, motorways, and renewable generation assets. The fund targets assets with long-duration, inflation-linked cash flows and regulatory protection (per Macquarie's annual report, 2024).
Does Macquarie Australian Infrastructure Management 2 invest only in equity or also in debt?
The fund invests in both infrastructure equity and debt. Macquarie maintains dedicated infrastructure debt platforms that provide senior and subordinated debt to Australian infrastructure projects. The equity side focuses on controlling or significant minority stakes in operating assets (per Macquarie's public disclosures, 2024).
How is Macquarie Australian Infrastructure Management 2 structured relative to Macquarie Group?
Macquarie Australian Infrastructure Management 2 Limited is a separate legal entity within Macquarie Asset Management, which is itself a division of Macquarie Group. The fund operates as a regulated investment manager with its own board and governance, but benefits from Macquarie's global research, operations, and distribution network. Macquarie Group's balance sheet can provide co-investment capital (per Australian corporate registry filings, 2024).
What is the fund's approach to environmental and social impact?
Macquarie Asset Management has committed to net-zero emissions by 2040 for its infrastructure portfolio. The Australian funds integrate ESG factors into investment due diligence and asset management, including climate risk assessment, community engagement, and biodiversity targets. Specific portfolio companies have set emission reduction targets aligned with the Paris Agreement (per Macquarie's ESG report, 2023).
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