The multi-asset manager secured a 3.2 times return multiple and a 19% IRR from the sale of its remaining stake Sembcorp Green Infra.
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The two direct investors are set to pay over £1.3bn for 26% of the UK’s largest water utility, the third asset to be exited by Macquarie’s second European fund.
Through its third private equity fund, the US firm has acquired a portfolio generating 1.5GW two months after agreeing to a $2.2bn deal with TransCanada.
The firm was backed by more than 50 LPs and expects to seal its next deal within the next couple of months.
The exit by Beijing Enterprises Water Group, a portfolio company of Khazanah Nasional and IFC, is a sign that further consolidation may be in the cards in China’s water sector.
Thirteen infrastructure and energy-focused vehicles were established in the last quarter, which was otherwise a slower period on the fund closing front.
The emerging markets firm has yet to hold a first close on the vehicle, which is backed by the likes of New York’s TRS and Texas’ ERS.
The insurer’s asset management arm has acquired four wind power plants from developer RES in what it described as one of its largest infrastructure deals to date.
The insurance group’s alternatives division has taken a 30% stake in E.ON Distribuţie România, marking its first investment in the Eastern European country.
The firm will use the new outpost to cement relationships with investors in Asia, including Australia and New Zealand.