NexGen Financial Limited Partnership has filed a final prospectus qualifying the initial and continuous public offering of Macquarie NexGen Global Infrastructure Corp., a closed-end investment fund for which NexGen will be the manager.

Macquarie Alternative Investments Ltd. has been retained by NexGen to manage the portfolio.

The Macquarie Group is a diversified international provider of specialist financial and investment banking services around the world with total assets under management of approximately $127 billion as of Sept. 30, 2006.

Macquarie is recognized as a global leader in infrastructure acquisition, and funding as well as asset and funds management. Currently Macquarie manages in excess of $35 billion of equity in infrastructure and adjacent sectors, primarily through its IB Funds division as well as by other Macquarie funds management affiliates.

The offering price is $10 per Class A share, and the minimum purchase quantity is 200 Class A shares ($2,000).

The fund is designed to provide investors with exposure to the total return of an actively managed portfolio consisting primarily of publicly listed equity and equity like securities of global issuers that own or operate infrastructure assets. Infrastructure assets include but are not limited to:

  • ransport assets (toll roads, airports, seaports, rail);
  • energy assets (gas and electricity transmission, distribution and generation);
  • water assets (pipelines and treatment plants);
  • telecommunications assets (broadcast, satellite and cable); and
  • social assets (hospitals, schools, prisons).

It is expected that up to 10% of the portfolio will consist of unlisted private infrastructure funds when such investment opportunities arise, although the portfolio may consist of up to 20%.

The fund’s investment objectives are to provide tax efficient monthly distributions which are initially targeted to be 5¢ per share, representing an annual yield of 60¢ per share, or 6% based on the original price of $10 per Class A Share; and maximize the total return of the fund.

Monthly distributions are expected to consist primarily of return of capital and may include capital gains dividends.

The closing is expected to occur on March 23.

The Toronto Stock Exchange has conditionally approved the listing of the Class A Shares under the symbol MNF.

A syndicate of agents co-led by CIBC World Markets Inc. and Scotia Capital Inc includes: RBC Capital Markets, BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corporation, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Blackmont Capital Inc., Wellington West Capital Inc., Desjardins Securities Inc., Newport Securities LP and Research Capital Corporation.