AMP Capital has acquired an additional managed stake of $157 million or 3.5 per cent in Australia Pacific Airports Corporation (APAC), according to an announcement from the company.
After exercising its pre-emptive rights on behalf of its funds and clients, AMP Capital now manages 45.3 per cent of APAC.
Paul Foster, AMP Capital's head of infrastructure for Australia and New Zealand, said AMP is pleased to increase its stake in APAC, which owns Melbourne and Launceston airports.
"The additional investment has been funded by a broad range of our Australian superannuation fund clients who had strong appetite to increase their exposure to a high quality core infrastructure asset which has delivered strong returns since inception," he said.
AMP Capital took a 49 per cent interest in Newcastle International Airport in the UK in 2012. It has managed an investment in Melbourne Airport since 1997 and Launceston Airport since 1998.
