Macquarie NexGen Global Infrastructure Corporation Closes A Shares Over-All
TORONTO, April 10, 2007
NexGen Financial Limited Partnership ("NexGen"or the "Manager") is pleased to announce that a syndicate of agents, co-led by
CIBC World Markets Inc. and Scotia Capital Inc., have exercised their over-allotment option for 625,000 Class A Shares of Macquarie NexGen Global Infrastructure Corporation (the "Fund") for gross proceeds of $6,250,0000, which together with the proceeds from its initial public offering of 8,500,000 Class A Shares, brings the Fund's total gross proceeds to $91,250,000. The Fund's Class A Shares trade on the Toronto Stock Exchange under symbol MNF.
Investment Rationale: The Fund is designed to provide investors with exposure to the total return of an actively managed portfolio (the
"Portfolio") consisting primarily of publicly listed equity and equity like securities of global issuers that own or operate infrastructure assets. It is expected that up to 10% of the Portfolio will consist of unlisted private infrastructure funds when such investment opportunities arise.
Macquarie Alternative Investments Limited (the "Investment Manager") has been retained by NexGen to manage the Portfolio.
Investment Objectives: The Fund's investment objectives are to:
Monthly distributions are expected to consist primarily of return of capital and may include capital gains dividends.
Investment Manager: The Investment Manager is an indirect wholly owned subsidiary of Macquarie Bank Limited. The Macquarie Group ("Macquarie") is a diversified international provider of specialist financial and investment banking services around the world with total assets under management of approximately $127 billion as of September 30, 2006. Macquarie employs more than 9200 people world wide in 24 countries including Canadian offices in Toronto and Vancouver.
As early as 1990 Macquarie recognized the potential of infrastructure as an emerging asset class that offers attractive long-term investment
characteristics. Today, Macquarie is recognized as a global leader in infrastructure acquisition, and funding as well as asset and funds management. Currently Macquarie manages in excess of $35 billion of equity in infrastructure and adjacent sectors, primarily through its IB Funds division as well as by other Macquarie funds management affiliates.
The Manager: NexGen is the manager of the Fund. NexGen was founded by individuals with long histories in the fund industry in Canada. Three members of NexGen's executive team helped lead one of Canada's largest public fund companies for over a decade prior to forming NexGen. NexGen seeks to assemble top quality investment management and to offer investors tax efficient solutions to their investment needs. NexGen acts as the manager and sponsor of the NexGen Funds, a group of 28 open-end mutual funds which commenced retail distribution of their securities in various provinces of Canada in September 2006.
The Agents: A syndicate of agents co-led by CIBC World Markets Inc. and Scotia Capital Inc includes: RBC Capital Markets, BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corporation, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Blackmont Capital Inc., Wellington West Capital Inc., Desjardins Securities Inc., Newport Securities LP and Research Capital Corporation.
This news release contains forward-looking statements that involve risks and uncertainties. These statements reflect NexGen's current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, NexGen cannot assure that the forward-looking information contained in this news release will be realized.
NexGen Financial Limited Partnership ("NexGen"or the "Manager") is pleased to announce that a syndicate of agents, co-led by
CIBC World Markets Inc. and Scotia Capital Inc., have exercised their over-allotment option for 625,000 Class A Shares of Macquarie NexGen Global Infrastructure Corporation (the "Fund") for gross proceeds of $6,250,0000, which together with the proceeds from its initial public offering of 8,500,000 Class A Shares, brings the Fund's total gross proceeds to $91,250,000. The Fund's Class A Shares trade on the Toronto Stock Exchange under symbol MNF.
Investment Rationale: The Fund is designed to provide investors with exposure to the total return of an actively managed portfolio (the
"Portfolio") consisting primarily of publicly listed equity and equity like securities of global issuers that own or operate infrastructure assets. It is expected that up to 10% of the Portfolio will consist of unlisted private infrastructure funds when such investment opportunities arise.
Macquarie Alternative Investments Limited (the "Investment Manager") has been retained by NexGen to manage the Portfolio.
Investment Objectives: The Fund's investment objectives are to:
- provide tax efficient monthly distributions which are initially targeted to be $0.05 per share, representing an annual yield of $0.60 per share, or 6% based on the original price of $10.00 per Class A Share; and
- maximize the total return of the Fund.
Monthly distributions are expected to consist primarily of return of capital and may include capital gains dividends.
Investment Manager: The Investment Manager is an indirect wholly owned subsidiary of Macquarie Bank Limited. The Macquarie Group ("Macquarie") is a diversified international provider of specialist financial and investment banking services around the world with total assets under management of approximately $127 billion as of September 30, 2006. Macquarie employs more than 9200 people world wide in 24 countries including Canadian offices in Toronto and Vancouver.
As early as 1990 Macquarie recognized the potential of infrastructure as an emerging asset class that offers attractive long-term investment
characteristics. Today, Macquarie is recognized as a global leader in infrastructure acquisition, and funding as well as asset and funds management. Currently Macquarie manages in excess of $35 billion of equity in infrastructure and adjacent sectors, primarily through its IB Funds division as well as by other Macquarie funds management affiliates.
The Manager: NexGen is the manager of the Fund. NexGen was founded by individuals with long histories in the fund industry in Canada. Three members of NexGen's executive team helped lead one of Canada's largest public fund companies for over a decade prior to forming NexGen. NexGen seeks to assemble top quality investment management and to offer investors tax efficient solutions to their investment needs. NexGen acts as the manager and sponsor of the NexGen Funds, a group of 28 open-end mutual funds which commenced retail distribution of their securities in various provinces of Canada in September 2006.
The Agents: A syndicate of agents co-led by CIBC World Markets Inc. and Scotia Capital Inc includes: RBC Capital Markets, BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corporation, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Blackmont Capital Inc., Wellington West Capital Inc., Desjardins Securities Inc., Newport Securities LP and Research Capital Corporation.
This news release contains forward-looking statements that involve risks and uncertainties. These statements reflect NexGen's current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, NexGen cannot assure that the forward-looking information contained in this news release will be realized.
