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The firm will purchase the stake in the availability-based PPP from InfraRed Capital Partners via its Community Infrastructure Fund, taking the size of that vehicle toward A$1bn.
Auckland, New Zealand
The NZ Infra joint venture will go head-to-head with government entity NZ Transport Agency for the right to act as delivery partner for the multibillion-dollar scheme.
The sale, from its first Public Infrastructure Partners Fund, is expected to generate strong returns in what's seen as a hot PPP market.
Brookfield Asset Management will hold its stake in its fourth infrastructure fund while Infratil will undertake an equity raising to help finance its investment.
The fund will invest $70m immediately in the company’s existing portfolio of six metropolitan data centres, with a further $45m available for future co-investments.
The Sydney-based fund manager has bought Metrix in a $183m deal, the second acquisition through its Secure Assets Fund.
The Australian fund manager will target both domestic and offshore investors in 2019 as it seeks to raise a total of $723.5m for investments at home and in New Zealand.
Infratil and Mercury launched a joint bid to take 100% ownership of Tilt Renewables, which holds 11% of Australia’s installed wind capacity.
The US-based renewables developer, backed by NZ Super and Infratil, is also proceeding with the construction of the 238MW Rio Bravo wind farm in the same state.
Matt Whineray, who has been with the vehicle since 2008, will take the helm of the $26.3 billion fund on 1 July.
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