Infratil is becoming more like a listed private equity firm: Forsyth Barr

Infratil's 40% Longroad stake could be worth $300m. (Image: Longroad)

Tue, 16 Nov 2021

Investors have rerated Infratil shares as its portfolio has transformed from being a listed infrastructure fund to more resembling a listed private equity firm, according to Forsyth Barr analysts Aaron Ibbotson and Matt Montgomerie.Only about 15% of Infratil's assets are listed now – just its 51% stake in Trustpower, soon to be renamed Manawa Energy – and two-thirds have been owned for less than six years, the analysts said in a note.By contrast, four years ago, Infratil's portfolio was dominated by Trustpower and Tilt, whic...

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