First Sentier Global Listed Infrastructure Fund divests position in Chinese toll road operator Jiangsu Expressway
Type: Sale · Technology: Transport · Country: China · Announced: 2024-09-30
First Sentier Global Listed Infrastructure Fund divested its entire stake in Shanghai-listed Jiangsu Expressway, a major operator of over 1,000 km of expressways and bridges across Jiangsu province, to.
Analysis
First Sentier Global Listed Infrastructure Fund, part of Global Infrastructure Partners' extensive $100 billion-plus infrastructure portfolio, exited its position in Chinese toll road operator Jiangsu Expressway during Q3 2024. This divestment wasn't a distress sale; rather, the fund capitalized on Jiangsu's robust share price appreciation relative to global peers. The strong performance reduced the perceived mispricing, prompting the sale as the stock no longer aligned with the fund's investment process. It highlights a disciplined, valuation-driven approach to managing listed infrastructure exposure within the transport sector.
Key points
- First Sentier Global Listed Infrastructure Fund divested Chinese toll road operator Jiangsu Expressway.
- Sale driven by strong share price performance, reducing perceived mispricing.
- Fund is part of Global Infrastructure Partners (GIP), managing over $100 billion in assets.
Counterparties
- First Sentier Global Listed Infrastructure Fund (Seller)
- Jiangsu Expressway (Parent Company)
- Global Infrastructure Partners (Seller)