Everbright, Macquarie to float two infrastructure funds

Macquarie Group Ltd, Australia's largest investment bank, and China Everbright Ltd plan to raise $1.5 billion for two funds to invest in infrastructure projects in the Chinese mainland, Taiwan and Hong Kong.

Macquarie and Everbright will contribute a combined $100 million to the funds, which will invest in toll roads, airports, renewable energy, water treatment, ports and railways in China, the bank said in an e-mailed statement yesterday.

"China has a long history of private and foreign sector investment in infrastructure, with well-developed national policies promoting infrastructure investment to improve business efficiency and national wealth, whilst encouraging foreign capital and operating expertise," Everbright CEO Chen Shuang said.