Macquarie seek quick selldown for Crown Castle
Macquarie Group is seeking a quick selldown for part of its $2bn mobile phone tower operator Crown Castle Australia. Macquarie Infrastructure and Real Assets (MIRA), the bank's infrastructure arm, won Crown Castle in May, leading a consortium including UBS Infrastructure. Sources say MIRA will still keep a significant holding and it is likely it will be used to begin building the firm's new Australian fund.
Macquarie Group is turning back the clock as it seeks a quick selldown for part of its $2 billion mobile phone tower operator Crown Castle Australia.

The bank's infrastructure arm, Macquarie Infrastructure and Real Assets (MIRA), won the Crown Castle auction in May, leading a consortium that included UBS Infrastructure and UniSuper, as revealed by Street Talk.

Street Talk understands a range of infrastructure and superannuation funds are looking at taking a slice of MIRA's stake.

Macquarie Infrastructure and Real Assets and partners paid about 16 times forecast earnings for mobile phone tower owner, Crown Castle Australia. Eamon Gallagher

But sources said MIRA would retain a significant holding, which would likely be used to seed the firm's new Australian fund. Street Talk revealed in February MIRA was launching a new Australian dollar fund, worth as much as $5 billion, ahead of a raft of government privatisations.

The $1.28 billion Crown Castle equity cheque was split three ways, and was supported by a $725 million third-party debt package.