The Macquarie Group Limited (MGL), Australia’s biggest investment bank, has closed its Singapore-listed infrastructure fund, set up in 2005, after failing to find profitable assets in Asia. Currently, it has 38 per cent stake in Changshu Xinghua port, a cargo port in eastern China; 81 per cent stake in the Hua Nan Expressway; and 47.5 per cent stake in Taiwan Broadband Communications. MGL will distribute excess cash as a special dividend and divest three assets following a review by its adviser, CIMB Group Holdings Bhd.
