Investments
June 2016 Melbourne Convention & Exhibition Centre (MCEC) Expansion Project
Public Infrastructure Partners made its original investment in the MCEC in August 2010. In June 2016 the PIP Fund reached financial close on the MCEC expansion project which involves a new build of six exhibition bays, covering 9,000 sqm.
September 2015 Auckland Prison
Public Infrastructure Partners reached Financial Close on the Auckland Prison PPP on 15 September 2015.
The Department of Corrections announced in September that financial close was reached with a Public Infrastructure Partners (PIP) Fund consortium. Next Step Partners (NSP) was the successful PPP bidder to design, build, finance and maintain a new Auckland Prison facility, and maintain the existing facility.
The NSP consortium comprises the PIP Fund, Fletcher Construction (Building and Interiors), Cushman and Wakefield (formerly DTZ) and Westpac. Fletcher is undertaking the design and construction of the new facility, Cushman and Wakefield will be responsible for the Asset Management and Facilities Maintenance and Westpac are debt providers.
Please read the shareholder announcement.
Please read the Investment Summary.
April 2015 New Zealand Schools 2
Financial close for New Zealand Schools 2 was reached on 30 April 2015. In May 2015 Education Minister Hekia Parata signed a $298 million contract with a PIP Fund consortium Future Schools Partners (FSP) to finance, design, build and maintain four new schools - the Aranui school, Ormiston Junior College in Auckland, Wakatipu High School in Queenstown and Canterbury's Rolleston College. The concession runs for 25 years.
Aranui, Ormiston and Rolleston schools are aiming to be completed by January 2017, with Wakatipu school completed by January 2018.
The primary service provider is Programmed Facilities Management. The Ministry of Education will provide teaching services and staff.
Please see the full news item here.
December 2014 Wollongong University Student Accommodation Facility
The PIP Fund closed the University of Wollongong (UOW) student accommodation transaction on Friday 5 December.
The PIP Fund has agreed with UOW a 39 year concession to operate and maintain existing student accommodation facilities (1,900 beds across 9 sites, with 273 existing beds being decommissioned over 3 years) and to design and build, manage and maintain two new facilities (totaling 1060 beds) to be built over the next 3 years (see below).
The PIP Fund is a 50/50 equity investor alongside Balfour Beatty Investors. Programmed Facility Management is the maintenance services provider, Hutchinson Builders will provide development and construction services, and ANZ and NAB are providing the senior debt.
Please read the shareholder announcement here.
April 2013 Bendigo Healthcare Group Accommodation Facility
NZSIF is pleased to announce that the PIP Fund in which NZSIF has a 23% interest, has made its third social infrastructure investment.
The PIP Fund has acquired 100% of the Bendigo Healthcare Group Accommodation Facility, based in Bendigo, Victoria, Australia, which is being built in close proximity to the new Bendigo Hospital. The counterparty and sponsor is the Bendigo Healthcare Group – a state owned public health provider of the State of Victoria. The Accommodation Facility will provide 120 accommodation units for doctors and nurses.
Please read about the Bendigo Healthcare Group Accommodation Facility investment here.
April 2012 Hobsonville Schools
Learning Infrastructure Partners has entered into a contract to provide New Zealand’s first public private partnership (PPP) for the design, construction, finance and maintenance of Auckland’s Hobsonville Point primary and secondary schools, for the next 25 years
The consortium is made up of experienced school service providers including Hawkins Construction, Programmed Facility Management and the Public Infrastructure Partners fund (PIP Fund). The design work has been carried out by ASC Architects in conjunction with Perumal Pedavoli Architects, Holmes Consulting Group and Aecom.
Please read about the Hobsonville Schools investment here.
August 2010 Melbourne Convention and Exhibition Centre
Please read about the Melbourne Convention & Exhibition Centre investment here.
Where can I learn more about the Melbourne Convention & Exhibition Centre? The Melbourne Convention & Exhibition Centre website www.mcec.com.au provides a significant amount of further detail on the facilities, along with a gallery of images.
