Dexus has raised nearly A$200 million ($134 million) for its Wholesale Airport Fund (WAF), exceeding its initial target of A$130 million ($87 million).
WAF represents the first fund the company has brought to market since acquiring AMP Capital’s domestic real estate and infrastructure businesses. The fund owns a 1 percent investment in Australia Pacific Airports Corp., the unlisted holding company of Melbourne Airport and Launceston Airport.
The additional funds raised provide WAF with capacity for further acquisitions to grow its stake in Asia Pacific. Dexus said a planned third runway, future terminal development, land access upgrades and ongoing property development are medium-term opportunities the company is planning.
“WAF offers a rare opportunity for wholesale investors to obtain exposure to a key piece of privately owned infrastructure, which up until now had been tightly held by institutional clients,” said Darren Steinberg, CEO of Dexus. “The e
