The federal government’s Future Fund will pay $2 billion to take over a collection of infrastructure assets that includes stakes in a number of Australian airports.
The $77 billion investment fund, set up to help cover the cost of public sector pensions, will buy out the assets of the Australian Infrastructure Fund (AIX), which includes stakes in Perth Airport, the body that controls Melbourne and Launceston Airports, Queensland Airports and Northern Territory Airports.
Queensland Airports includes Gold Coast, Townsville and Mount Isa Airports, while Northern Territory Airports includes Darwin, Alice Springs and Tennant Creek Airports.
AIX also holds stakes in Athens, Dusseldorf and Hamburg Aiports.
The acquisition is pending the completion of due diligence and approval by AIX’s board.
Sovereign wealth and pensions funds have increasingly sought refuge in infrastructure investments as stock markets remain volatile due to the European financial crisis.
