AMP Capital ups investment stake in Melbourne and Launceston Airports to 45.3%

Fund manager AMP Capital has increased its stake in the Australia Pacific Airports Corporation (APAC), owner of Melbourne and Launceston Airports, to 45.3% following a $157 million investment on behalf of funds and clients. 

The investment increases AMP's investment in APAC by  3.5%

AMP the largest shareholder in APAC.

AMP has managed an investment in Melbourne Airport since 1997 when the airport was privatised, and Launceston Airport since 1998. 

In 2012 AMP Capital took a 49% interest in Newcastle International Airport in the UK. 

“Melbourne Airport is one of the best performing airports in the world and it serves around 29 million domestic and international passengers per annum,” said Paul Foster, AMP Capital’s head of infrastructure, Australia and New Zealand. 

“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.”