Macquarie Asset Management, an asset manager, agreed to acquire a 50% stake in Last Mile, a business that designs, installs, owns and operates last mile electricity, gas, water and wastewater networks, from M&G-backed Infracapital, an investment company. Financial terms were not disclosed. “We are delighted to announce this partnership with Macquarie Asset Management. As we continue to develop Last Mile alongside Macquarie we see significant opportunities to further grow the company, including the opportunity we have developed within the energy transition space. Macquarie is a deeply knowledgeable utilities investor, and we look forward to working together to build on the business’s strategy as a leading last mile multi-utility provider across the UK," Mark Chladek, Infracapital Head of Brownfield.