🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Australian fund IFM holds investor meeting in Spain as it seeks to expand

Published 10/13/2023, 09:05 AM
Updated 10/13/2023, 09:11 AM
© Reuters.
NTGY
-

By Pietro Lombardi

MADRID (Reuters) - Australian fund IFM Investors will bring major international investors to Madrid next week as it hopes to expand its presence in the country in sectors tied to the green energy transition, it said on Friday.

The fund, which has around $131 billion under management, has invested 8 billion euros ($8.4 billion) in Spain in the past five years, including a 14.5% stake in power utility Naturgy.

IFM will hold the event from Monday to Wednesday in Madrid "due to the growing strategic importance of Spain for its portfolio of infrastructure assets," it said.

IFM Chief Executive David Neal, as well as its global and regional infrastructure chiefs, Kyle Mangini and Deepa Bharadwaj, will be at the meeting. Jaime Siles, who represents the fund on Naturgy's board, will also attend.

The presence of the IFM's top brass in Madrid comes as Naturgy is considering changes that could reshape the company and after some tensions over the potential appointment of a chief executive.

IFM's delegation will meet Naturgy's top management and visit some premises, a person familiar with the planning told Reuters.

($1 = 0.9503 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.