Asset management: Infrastructure funds take off in Asia

By Chris Wright

Macquarie Korea Infrastructure Fund was listed in Seoul and London in March, raising W942 billion ($1 billion). It was the first infrastructure fund to be listed in Korea but followed a model that Macquarie Bank has refined numerous times in Australia and elsewhere in the world: pour a group of assets generating predictable revenue streams into a fund, list it, and ensure a steady flow of fees, often performance-based, back to Macquarie Bank itself.