Macquarie has announced that Macquarie European Infrastructure Fund 2 (MEIF2), together with two other Macquarie-managed funds, have agreed to sell a combined 26.3 per cent interest in Kemble Water Holdings Limited, the ultimate holding company of Thames Water Utilities Limited. MEIF2 is managed by the Macquarie Infrastructure and Real Assets (MIRA) division of Macquarie.

The sale interest is being acquired by Borealis Infrastructure, the infrastructure investment manager of OMERS, and Wren House Infrastructure Management Limited, the infrastructure investing arm of the Kuwait Investment Authority. MEIF2, which holds the majority of the sale interest, is divesting its stake as the fund is approaching maturity. This transaction is the final divestment by Macquarie of its stakes in the business.

Over the 11 year period in which Macquarie-managed funds have held interests in Thames Water, the business has successfully delivered an ambitious capital investment programme of over £11 billion to maintain, update and expand its network, equivalent to £1.0 billion per annum on average.

A few days ago a JV of Fiera Capital and Aquila Infrastructure, increased its holdings in Thames Water Utilities Limited to 5% with the acquisition from Australia’s State Super.