MIP IV Completes Selldown of 16.2% Interest in Long Beach Container Terminal

We are pleased to confirm that as of December 19, 2019, Macquarie Infrastructure Partners IV (MIP IV or the Fund) has completed the selldown of an additional 16.2% equity interest in Long Beach Container Terminal (LBCT) to four MIP IV Limited Partners.

The sale reduces MIP IV’s direct equity ownership in LBCT from 73.3% to 57.1% and brings the investment below the 20% single investment limit for the Fund (now 18.6%). Going forward, MIP IV will manage a 65.2% equity stake in LBCT on behalf of the Fund and managed co-investors, and retains governance for all key operational and strategic matters. The remaining 34.8% equity interest is held by four MIP IV LPs who have invested directly alongside the Fund (two at financial close and two as a result of the selldown process).

LBCT is located in the Port of Long Beach, California, and is part of the combined Los Angeles / Long Beach port complex, which is the largest cargo gateway in North America, handling approximately 35% of all North American container volumes. LBCT currently has two operational berths, with a third berth under construction, which is due to be completed by December 2022. The terminal is one of the most energy efficient and lowest emission terminals in North America, combining a highly qualified workforce with electric equipment and automation technology to optimize operations.

Following the selldown, MIP IV is now approximately 87% invested or committed across its nine portfolio companies.

Should you have any questions concerning these events or MIP IV’s investments, strategy or performance, please do not hesitate to contact us at mip.

Sincerely,

Macquarie Infrastructure Partners IV