Macquarie Infrastructure Company Generates Performance Fee in Third Quarter
*$6.9 million fee to be reinvested in additional LLC interests
NEW YORK -- October 7, 2013
Macquarie Infrastructure Company (NYSE:MIC) announced that its management
company, Macquarie Infrastructure Management (USA) Inc. (“MIMUSA”), has earned
a performance fee of $6.9 million for the third quarter of 2013.
The performance fee for the third quarter reflects an average closing value of
the MIC accumulation index for the last 15 trading days of the quarter that
was 2.6% above the average closing of the accumulation index for the 15
trading days ended June 30, 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 index benchmark. The fee is
subject to MIC’s total return being positive and in excess of any prior
MIMUSA will reinvest the third quarter performance fee in additional shares of
MIC. All performance fees generated previously have also been reinvested in
additional shares. In accordance with the MSA, the price at which additional
shares would be issued to MIMUSA 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 third 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 three 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, 212-231-1825
Paula Chirhart, 212-231-1310
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