FF&P sells stake in Macquarie fund to Blackrock

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FF&P sells stake in Macquarie fund to Blackrock

Wealth manager Fleming Family & Partners (FF&P) has reported that it has sold a stake in an European infrastructure fund managed by Macquarie Infrastructure and Real Assets to BlackRock.

Online magazine Secondaries Investor said that FF&P has disposed its stake in Macquarie European Infrastructure Fund 2 (MEIF 2).

Fleming Family & Partners provides advisory services, asset management services, hedge funds, private equity, and trust services. Fleming Family & Partners Ltd. was founded in August 2000 and is based in London, United Kingdom with additional offices in Zurich, Switzerland; Moscow, Russia; Vaduz, Liechtenstein; and Hong Kong, China.

MEIF 2 was launched following the success of MEIF, to take advantage of the growing number of infrastructure investment opportunities within the expanding European Union. Now fully invested, MEIF 2 is a €4.6 billion wholesale investment fund that invests in businesses which:

  • provide an essential service to the community
  • have a strong competitive position
  • generate stable cashflows over the long term.

Investments made by MEIF 2 include:

  • Airwave, UK market leader in public safety communications;
  • Autoroutes Paris-Rhin-Rhone, major French motorway network;
  • Arqiva, broadcast transmission, communications infrastructure and media services in the UK;
  • ?eské Radiokomunikace,  owner and operator of broadcast and telecommunication tower infrastructure in the Czech Republic;
  • Condor Group, Freight, passenger and car ferry services between the UK, the Channel Islands and France;
  • National Car Parks,  the UK's leading provider of off-street car parks;
  • Thames Water, the UK's largest water and wastewater company;
  • Techem, a leading German energy services provider; and
  • Värmevärden, portfolio of 11 district heating sites located across central Sweden.

Earlier this year FF&P hired former managing director of fund of funds manager QuartiliumRichard Clarke-Jervoise as investment manager of private equity investments.

Macquarie European Infrastructure Fund 4 (MEIF4) had its final close in April 2013 with total commitments of €2.7 billion, ahead of its €1.5 to €2 billion target.

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