Profit-to-member superannuation fund Rest has agreed to sell its 12.6 per cent stake in Endeavour Energy to a fund managed by Macquarie Asset Management.
In a media release on Tuesday morning, the fund said the sale delivered “a strong return on investment” without specifying the value of the deal.
Rest acquired the stake in 2017, when the NSW Government sold a 50.4 per cent stake to a consortium comprising funds and clients managed by Macquarie Asset Management, Rest, British Columbia Investment Management, and Qatar Investment Authority.
Endeavour Energy supplies electricity to 2.7 million people across Greater Western Sydney, the Blue Mountains, Southern Highlands, the Illawarra, and the South Coast of NSW.