Macquarie Asset Management (MAM) has acquired a 50% stake in the Victorian land registry in Australia from Aware Super for an undisclosed sum.
Aware Super will retain the remaining 50% interest in Secure Electronic Registries Victoria (SERV), which it originally took private in 2018 for A$2.86bn (€1.8bn).
Local media reports estimate the business is now valued between A$3bn and A$4bn.
In Australia, MAM and Aware Super are co-investors in a number of data, technology and critical infrastructure assets, including VicRoads, Vocus, 2degrees and NSW Land Registry Services.
Maria Donnelly, senior portfolio manager, Aware Super, said: “We are pleased to welcome Macquarie Asset Management as our partner and remain a committed 50% shareholder, continuing to actively manage our investment and support the delivery of secure, reliable and innovative registry services for Victoria.”
John Danieli, managing director, Macquarie Asset Management, said Macquarie Global Infrastructure Fund’s proposed investment in SERV is another example of MAM’s “extensive experience and strong track record in modernising and digitising land and motor registries in multiple Australian jurisdictions”.
Andrew Faber, CEO, SERV, said: “SERV is proud of our track record as the private operator of Victoria’s Register of land, working in collaboration with the State to support Victoria’s property market and enabling Victorians to make informed decisions about land and property ownership every day.”
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