Macquarie Infrastructure Company Generates Performance Fee in First Quarter
*$22.0 million fee to be reinvested in additional LLC interests
NEW YORK -- April 3, 2013
Macquarie Infrastructure Company (NYSE: MIC) announced that its management
company, Macquarie Infrastructure Management (USA) Inc. (“MIMUSA”), has earned
a performance fee of $22.0 million for the first quarter of 2013.
Based on the Management Services Agreement (“MSA”) between MIC and MIMUSA, the
management company is entitled to a performance fee equal to 20% of the value
of MIC’s total return in excess of its utility-based benchmark. The fee is
subject to MIC’s total return being positive and in excess of any prior
The performance fee for the quarter reflects an average closing value of the
MIC accumulation index for the last 15 trading days of the first quarter that
was 15.5% above the average closing of the accumulation index for the 15
trading days ended December 31, 2012.
MIMUSA will reinvest the performance fee in additional shares of MIC. In
accordance with the MSA, the price at which the additional shares are to be
issued will be calculated using the volume weighted average price of MIC’s
shares over a 15-day period following the release of the Company’s financial
results for the first quarter of 2013.
About Macquarie Infrastructure Company
Macquarie Infrastructure Company owns, operates and invests in a diversified
group of infrastructure businesses providing basic services to customers in
the United States. Its businesses consist of a gas processing and distribution
business, Hawaii Gas, a controlling interest in a District Energy business in
Chicago, and a 50% interest in a bulk liquid storage terminal business,
International-Matex Tank Terminals. MIC also owns and operates an airport
services business, Atlantic Aviation and two solar power generation
facilities, collectively MIC Solar. The Company is managed by a wholly-owned
subsidiary of the Macquarie Group. For additional information, please visit
the Macquarie Infrastructure Company website at www.macquarie.com/mic. MIC-G
MIC is not an authorized deposit-taking institution for the purposes of the
Banking Act 1959 (Commonwealth of Australia). The obligations of MIC do not
represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008
583 542 (MBL). MBL does not guarantee or otherwise provide assurance in
respect of the obligations of MIC.
Macquarie Infrastructure Company
Jay A. Davis, Investor Relations, 212-231-1825
Paula Chirhart, Corporate Communications, 212-231-1310
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