Partners Group invests in Australian coal terminal

The Swiss private investment manager has closed a direct investment in Australia’s Newcastle Coal Infrastructure Group for the building and operation of a coal export terminal. Partners will make a subordinated debt investment of A$27m in NCIG to support the second stage of development.

Partners Group, the Swiss private markets investment business, has closed a direct investment on behalf of its clients in the Newcastle Coal Infrastructure Group (NCIG) to build and operate a new coal export terminal (CET). 

NCIG received approval from the New South Wales government to carry out the project. Located in the Port of Newcastle, the first stage of the CET opened in May this year. The terminal has a total capacity of 30 million tons per annum when fully commissioned, according to a press release.

However, due to an increase in demand for additional coal loading capacity from New South Wales export producers and growth in the thermal coal markets of Asia Pacific, NCIG intends to expand the capacity of the CET to 53 million tons per annum.

Partners Group has provided subordinated debt financing of A$27 million (€19.3 million; $25.8 million) to NCIG on behalf of its clients to support the second stage of development, the press release states.

Earlier this week, Partners Group closed its largest direct investment fund on €650 million. To date, the fund has made 19 investments and one exit from China Forestry, a forestry plantation operator, after holding the business for six months.

Partners Group is headquartered in Zug, Switzerland, and operates from 11 offices around the world, including one in Sydney. It has around €20 billion under management across its various programmes of private equity, infrastructure, real estate and debt.