Car manufacturer Daimler sells infra stake

The corporate pension fund of German automotive manufacturer Daimler has sold its stake in Macquarie European Infrastructure Fund II, according to UK regulatory notices.

Daimler is based in Stuttgart, Germany, and manufacturers cars and trucks through its subsidiaries Daimler Buses, Daimler Trucks and Mercedes-Benz cars and vans. 

Macquarie European Infrastructure Fund II (MEIF II) is a 2006-vintage fund that raised €4.6 billion. Limited partners include Dutch pension fund BPF Schilders, Swiss Re and Norwegian financial services Storebrand.

London-based family office Fleming Family and Partners was also an LP in MEIF II but sold its stake to to BlackRock in September. 

MEIF III is managed by Australian asset manager the Macquarie Group’s infrastructure and real assets European division. The fund invests in European energy, transport and water infrastructure companies and has a 10-year life.

MEIF II purchased crisis communications provider Airwave in 2007 for a reported sum of $3.8 billion. The same year, the fund also invested in National Car Parks, which oversees street parking operations and traffic management.

Macquarie declined to comment.

Daimler sold the stake to a fund known as DPT SilverStar SICAV SIF, which is domiciled at Deutsche Fund Platforms and managed by Oppenheim Asset Management Services. Little else is known about the fund and principals from Deutsche and Oppenheim were unavailable to comment by press time. 

However, this is not the first time that Daimler has sold a stake to Oppenheimer. In April it sold its position in Apax Europe VI, according to regulatory notices.