The Australian Infrastructure Fund (AIX), which is managed by Hastings Funds Management, has sold its entire stake in Port of Geelong, Victoria’s largest regional port, to RREEF Infrastructure and Asciano, the port’s operator.
The deal is part of AIX’s strategy of divesting non-core assets as it seeks to refocus its portfolio solely on airports, which now make up some 96 percent of AIX’s portfolio by asset value.
RREEF drops anchor in Geelong Port as Aussie fund exits
The Australian Infrastructure Fund has divested its 35% stake in Victoria’s largest regional port for A$25m. The buyers were RREEF Infrastructure – which picked up 15%, increasing its ownership of the port to 50% – and Asciano, the port’s operator, which purchased the remaining 20%.
