QIC drops out of Port of Brisbane bidding

The Brisbane-based investment fund and stake holder has failed to attract co-investors needed for an offer on the 26.7 per cent share of the port being shopped by a New York-based seller.

QIC Ltd, an investment firm with $74.3 billion in funds under management, has abandoned efforts to acquire a majority stake in Queensland’s biggest port after failing to persuade other investors to share the risk and reward of buying Global Infrastructure Partners’ shareholding in the port.

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