DIF buys into Danish Archives project

DIF Infrastructure, the Netherlands-based infrastructure fund manager, has released details of an investment it made in a fully operational Danish accommodation project at the end of March.

The DIF Infrastructure II (DIF II) fund, which closed on €571 million in September 2010, acquired a 50 percent interest in the Danish Archives private finance initiative (PFI) project at the end of March according to a statement from Netherlands fund manager DIF Infrastructure.

The 50 percent stake – the valuation of which was not disclosed – was acquired from Pihl, the second-largest construction services contractor in the Danish market. Pihl signed up to the deal in June 2007 in what was the Danish government’s first public-private partnership contract.

The Danish Archives Project is an accommodation project which involved the design, construction, operation/maintenance services and financing of archive storage space for the Danish National Archives, as well as the Provincial Archives for the Danish province of Zealand and the Royal Library.

The project, which is now fully operational, has a remaining concession life of 26 years until mid-2037.

DIF Infrastructure manages three infrastructure funds targeting PPP/PFI concession projects and renewable energy projects. As well as the Netherlands, the firm has offices in France, the UK and Germany.