TORONTO, March 23 /CNW/ - NexGen Financial Limited Partnership ("NexGen"
or the "Manager") is pleased to announce that Macquarie NexGen Global
Infrastructure Corporation (the "Fund") has closed its initial public offering
of Class A shares.
Gross Proceeds: At the closing, the Fund issued 8,500,000 Class A Shares
for total gross proceeds of $85,000,000. The agents have been granted an
over-allotment option to purchase up to 1,275,000 Class A Shares at any time
during the next 30 days.
Trading Information: The Fund Class A Shares began trading on the Toronto
Stock Exchange today 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:
i. 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
ii. 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 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
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
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.
For further information:
For further information: Jim Hunter, Chief Executive Officer, (416)
775-3701, email@example.com; Laurie Munro, President, (416) 775-3705,
firstname.lastname@example.org; NexGen Financial Limited Partnership, 36 Toronto
Street, Suite 1070, Toronto, ON M5C 2C5, Ph: (866) 378-7119, Fax: (866)
378-7121, Ph: (416) 775-3727, Fax: (416) 775-3737, www.nexgenfinancial.ca