DIF Infrastructure Fund III (“DIF III”), alongside its co-investors Swiss Life Asset Managers and Industriens Pension, is pleased to announce the signing of an agreement for the sale of its stakes in a portfolio of Spanish availability-based infrastructure concessions to Brookfield Super-Core Infrastructure Partners, an open-ended infrastructure fund managed by Brookfield Asset Management.
The portfolio includes significant shareholdings in concessions of the Majadahonda hospital in Madrid; the Line 9 section IV metro stations in Barcelona; and three transport hubs in Madrid: Avenida de America, Plaza de Castilla and Principe Pio.
Andrew Freeman, Head of Exits, said: “This is our first major exit in the Spanish infrastructure concession market, and represents an attractive exit for DIF III and our co-investors. It is part of our strategy of proactively targeting the sale of assets from our mature funds which have been successfully optimized.”
DIF was advised by Santander (M&A), HSF (Legal), Arup (Technical) and KPMG (Tax & Accounting).
Closing of the transaction is subject to receipt of usual consents from project counterparties.
About DIF Capital Partners
DIF Capital Partners (“DIF”) is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in construction and operational infrastructure assets, that generate stable and predictable cash flows, located in Europe, Americas and Australasia through two complementary strategies:
- DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated utilities and renewable energy projects with long-term contracted or regulated income streams.
- DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.
DIF has a team of over 130 professionals, based in nine offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.
Allard Ruijs, Partner