IFM Investors, a fund manager owned by 28 superannuation funds, has increased its stake into two Australian airports.

The company has informed its shareholders that it has bought an additional 1.5% shareholding in Australia Pacific Airports Corporation (APAC), which owns Melbourne Airport and Launceston Airport.

IFM confirmed the transaction to IPE Real Estate, but did not offer details.

It is understood that the company bought the interest from the Officers’ Superannuation Fund, the staff super fund of the Reserve Bank of Australia, for AUD180m (€125m).

As a result, IFM holds 25.2% of APAC, which generated AUD861m in revenue for the 12 months ending 30 June 2016.

AMP is the largest shareholder with 27.3%, while Australia’s Future Fund owns 20.3%, Deutsche Asset Management holds 18.5%, and Hastings Funds Management owns 8.7%.

Earlier this year, IPE Real Estate reported that airports account for 25% of IFM’s AUD31bn in infrastructure assets.

Combined, IFM Australian Infrastructure Fund and IFM Global Infrastructure Fund own seven airports in Australia, one in Europe and two in the UK.