MAM acquires half of Aware Super's Victorian land registry stake

Macquarie Asset Management (MAM) has acquired Aware Super's 50% stake in Secure Electronic Registries Victoria (SERV), the private operator of Victoria's register of land.

The superannuation fund will continue to retain and manage the remaining 50% ownership.

The Victorian government has granted SERV a 40-year concession to operate Victoria's register of land, processing more than nine million transactions a year. It is tasked with modernisation of the technology and promoting innovation.

"This transaction brings together two long-term infrastructure owners with a shared commitment to supporting SERV's continued success," Aware Super senior portfolio manager Maria Donnelly said.

"We are pleased to welcome Macquarie Asset Management as our partner and remain a committed 50% shareholder, continuing to actively manage our investment and support the delivery of secure, reliable and innovative registry services for Victoria."

The transaction is expected to complete in the fourth quarter of the year subject to approvals.

"We are excited to invest in an essential piece of Victoria's economic infrastructure to support the ongoing security, reliability and modernisation of the services the community needs," MAM managing director John Danieli said.

Danieli added MAM has extensive experience in modernising and digitising land and motor registries in multiple Australian jurisdictions.

MAM and Aware Super have a proven track record of partnering together on data, technology and critical infrastructure assets, including VicRoads, Vocus, 2degrees and NSW Land Registry Services.

"We look forward to partnering with Aware Super, a partner we know well, to support SERV in delivering trusted, secure services for Victorians and the property industry," he said.

SERV chief executive Andrew Faber said for SERV's customers, employees and the Victorian public, it's business as usual.

"We welcome Aware Super's partnership with Macquarie Asset Management, another aligned, highly credentialed and experienced long-term investor in businesses providing essential public services right across Australia," Faber said.