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Partners Group invests in cancer treatment facility

Partners Group originally advised some of the equity investors in the Plenary Health consortium,which won a public-private partnership for the Melbourne healthcare facility. Partners praised the ‘defensive’ nature of social infrastructure.

Partners Group has invested an undisclosed sum in the Victorian Comprehensive Cancer Centre (VCCC), an Australian public-private partnership (PPP) project, the global private markets investment manager announced today.

Partners Group was part of the Plenary Health consortium selected in 2011 to design, build and maintain the Melbourne-based healthcare facility. The team was led by Plenary Group with UniSuper and vehicles advised by Partners Group also contributing equity for the 25-year, A$1 billion (€764 million; $995 million) PPP.

A club of financial institutions including National Australia Bank, Export Development Canada, Mizuho Corporate Bank, The Bank of Tokyo-Mitsubishi, United Overseas Bank, BOS International (Australia), Industry Funds Management, H.E.S.T. Australia Limited and CARE Super backed the deal with debt.

The state of Victoria – a AAA credit rated government – will put A$436 million toward the centre. Construction is expected to be completed in late 2015.

A spokeswoman for Partners Group declined to reveal the size of the firm's investment. Partners Group has €25 billion of assets under management and in a statement noted that VCCC provided “defensive yet attractive” exposure.