AMP Capital Community Infrastructure Fund is to acquire a 100 per cent interest in the Partnerships Victoria in Schools Project.

The AMP Capital Community Infrastructure Fund (CommIF) is to acquire a 100 per cent interest in the Partnerships Victoria in Schools Project from the Royal Bank of Scotland.

This project involves the operations and maintenance of 11 school facilities, including eight primary schools, one secondary college, one primary-to-year-nine school and one primary-to-year-12 school, located in the Greater Melbourne area for the remaining 23-year term. The transaction is subject to relevant government and regulatory approvals.

AMP Capital Social Infrastructure Investment Director Julie-Anne Mizzi said: “The AMP Capital Community Infrastructure Fund has enjoyed a strong and active year and we’re pleased to be adding the Partnerships Victoria in Schools Project to our portfolio.

“Social infrastructure investments, such as this one, aim to give investors a stable, high-yielding income stream with the added benefit of having a positive impact on the local community. We’re finding there continues to be a lot of interest in this space.”

This is the third schools Public Private Partnership (PPP) acquisition completed by CommIF during the past 18 months. It follows the acquisition of a 49.99 per cent equity interest in the South East Queensland Schools PPP project in August 2013 and the purchase of the South Australian Schools PPP project in May 2012.

The acquisition increases CommIF’s interest to 35 schools in Victoria, Queensland, South Australia and New South Wales, with a capacity of more than 27,000 students.

CommIF is currently invested in nine social infrastructure assets in Australia and New Zealand worth approximately $1.2 billion in enterprise value, which incorporates the value of the equity and the debt. These include primary, secondary and tertiary education institutions and other assets in the health, justice, water and community sectors located in both Australia and New Zealand.

The post AMP Capital Community Infrastructure Fund to add fourth schools project to its portfolio appeared first on AdviserVoice.

AMP Capital moves into schools management and construction.

The AMP Capital Community Infrastructure Fund (CommIF) has acquired a 49.99 per cent equity interest in the South East Queensland Schools Public Private Partnership (PPP) project from the Commonwealth Bank of Australia.

The project has an enterprise value of over $250 million with a 26-year concession period remaining.

The project involves design and construction as well as the maintenance and operation of seven new schools which accommodate more than 5,790 students in the high-growth areas of the Sunshine Coast, Western Corridor, the Gold Coast and Redlands.

AMP Capital Investment Director Julie-Anne Mizzi said: “The South East Queensland Schools PPP project provides our clients with the opportunity to access stable, long term CPI-linked cash flows underwritten by availability-based payments from the Queensland Government.

“We have specialised knowledge of the asset class and PPP asset management and following this acquisition now manage a portfolio of 24 schools in New South Wales, Queensland and South Australia, under PPP arrangements. These schools provide education to more than 16,700 primary, secondary, early childhood and special education students.

“AMP Capital has an ongoing commitment to the Australian PPP market and CommIF is quickly becoming the partner of choice for secondary market social infrastructure assets in Australia and New Zealand,” Ms Mizzi said.

The AMP Capital Community Infrastructure Fund invests in social infrastructure PPP assets within the education, health, justice, defence, community housing, recreational facilities and transport sectors.

Following this acquisition the fund’s portfolio consists of eight social infrastructure concessions in Australia and New Zealand.

The post AMP Capital acquires South East Queensland Schools Project appeared first on AdviserVoice.