BIF, Heijmans sign project partnership

Barclays Infrastructure Funds has joined forces with the Dutch construction firm in a new joint venture targeting DBFMO deals.

Dutch-headquartered construction firm Heijmans and London-based fund manager Barclays Infrastructure Funds (BIF) have formed a joint venture called Heijmans Capital for the financing of DBFMO (design, build, finance, maintain and operate) projects.

BIF takes an 80 percent interest in Heijmans Capital, while Heijmans has 20 percent, with both organisations being jointly represented on the management board.

The partnership is targeted at projects in the Netherlands and Belgium. A statement from Heijmans said it was seeing a growing market for public-private partnership and DBFMO deals, with clients including the likes of the Dutch Government Building Agency (Rijksgebouwendienst) and the Directorate-General for Public Works and Water Management (Rijkswaterstaat).

The joint venture aims to bring together BIF’s fund management expertise with Heijmans’ building and operational skills to carry out DBFMO projects from as early as the tender phase.

The statement said the joint venture’s first project is the €88 million Dutch National Military Museum project in the Dutch town of Soesterberg near Utrecht. The project is a 25-year DBFMO concession.

In late May, 3i Group made an irrevocable offer to acquire BIF from Barclays. 3i said the addition of BIF, which has more than €1 billion under management, would complement the European arm of 3i Infrastructure, which listed on the London Stock Exchange in 2007 and is focused on core infrastructure.