Good evening,

It’s selldown season at big-ticket infrastructure assets!

The latest one on the block is the country’s biggest rail freight business, Pacific National, which pulled in $2.3 billion revenue last year and was spun out of Asciano in 2016.

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.

Elsewhere, we spotted Country Road Group holding talks to potentially jettison its menswear brand Politix; ASX put its mFunds service on the chopping block and a small LIT was setting up for M&A.

Happy reading,

Sarah Thompson, Kanika Sood and Emma Rapaport

Street Talk Editors