Global Infrastructure Partners, a private equity firm focused on global infrastructure asset investments, has acquired IPH, a strategic platform for port infrastructure investments.
IPH’s founder Alistair Baillie will continue to manage the business. He is a member of GIP’s outside advisory council and former chief operating officer of P&O Ports with more than 25 years of experience in the port and shipping industry.
Simultaneously IPH has entered into an operating and investment agreement with the Great Yarmouth Port Authority, through IPH’s UK subsidiaries, to acquire the existing port assets at Great Yarmouth.
As part of the deal IPH will build a new outer harbour and making other investments to improve and expand Great Yarmouth’s port infrastructure.
The firm has also entered into a joint venture with PSA International, a port operator, to develop and operate a short sea container terminal in the new harbour at Great Yarmouth.
Adebayo Ogunlesi, chairman and managing partner of Global Infrastructure Management, said: “IPH provides us both with a platform for making small and medium-sized port investments and a centre of expertise to support GIP’s investment objective of gaining critical mass in the ports sector.”