In 2024, Macquarie Asset Management (MAM) acquired a 50 per cent stake in Last Mile Infrastructure Group (Last Mile), which designs, builds, owns and manages ‘last mile’ utility connections and is one of the UK’s largest independent network owners.
Last Mile owns and manages approximately 910,000 connections, providing the vital link between distribution networks and end-customers for electricity, gas, heat, water and wastewater.
With its investment partner, MAM is supporting Last Mile’s plans to deliver an additional 730,000 contracted pipeline of multi-utility connections to meet growing demand for housing and businesses alike.3
Last Mile is also advancing decarbonisation efforts through innovative partnerships and solutions to help support the electrification of heating and transport throughout the UK – including heat networks and EV charging connections. One such partnership is Last Mile Heat, a joint venture between Last Mile and Rendesco, which provides ground and water source heat and cooling infrastructure to properties across the UK.
Last Mile Heat’s portfolio includes the UK’s largest low-carbon, water source heat network for a new mixed-use development of up to 6,000 homes in Hampshire, UK.