NZ investors in PIP fund reap $1.1M on Melbourne convention centre refinancing

Mon, 23 Jul 2012

By Paul McBeth July 24 (BusinessDesk) - Retail investors in the Morrison & Co-managed Public Infrastructure Fund got a return of $1.1 million from the refinancing of Melbourne's convention centre, just two years after its initial investment. The New Zealand Social Infrastructure Fund, which holds the second-biggest stake in the PIP Fund behind the New Zealand Superannuation Fund, paid unitholders 2.77 cents per share after Canadian fund manager Caisse de Depot et Placement du Quebec refinanced the Melbourne Convention and Exhibition Centre's...

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