Macquarie infra fund ends

Macquarie’s Asian-focused International Infrastructure Fund has closed down following a review from a Malaysian-based bank.

After conducting a strategic review, CIMB Bank of Malaysia has found that Macquarie’s strategy of investment in Asian infrastructure businesses to be constrained by share price and market environment.

As the fund winds down, it will distribute excess cash to shareholders as a special dividend, before it commences the sale of its assets.

The fund’s assets include the Taiwan-based wind turbine operator Miaoli Wind, Taiwan Broadband Communications, The Hua Nan Expressway in Guangzhou China and the Changshu Xinghua Port along China’s Yangtze River Delta.

It is managed by Macquarie Infrastructure Management Asia, a subsidiary of the Macquarie Group.