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.
Contact:
Allard Ruijs, Partner
Email: a.ruijs@dif.eu
