Seven years is a long time in markets – more so if you are a private equity or infra manager with a deadline to stage your exit and return profits to investors. That’s the situation on Pacific National’s register.
Street Talk understands Global Infrastructure Partners (GIP) is thinking hard about what to do with its 50 per cent odd stake in Pacific National, as its Fund II crosses its 10th birthday.
Should GIP pull the trigger, it would be joining the growing line of smaller selldowns (instead of whole-of-assets sales) that already includes NSW Land Titles Registry and Brisbane Airport.
Pacific National was spun off the Asciano empire as part of a $9.05 billion privatisation in 2016. Sources said GIP is the company’s largest shareholder.