21 Apr 2016
The Northern Territory Government today announced that Infrastructure Capital Group (ICG) has been selected as the investment manager for the Northern Territory Infrastructure Development Fund.
David Tollner said ICG was selected over five other contenders due to their
experience in developing infrastructure assets.
Capital Group is an independent Australian infrastructure funds management firm
with over 15 years experience and a track record of investment in successful
and effective infrastructure projects,” he said.
the investment manager for the NTIDF, ICG will now be responsible for all
aspects of the investment process including identifying and delivering a range
of infrastructure projects which will deliver a commercial rate of return to
the fund’s investors.”
The NTIDF will invest directly in a diversified portfolio of infrastructure assets that may include:
fund will seek to invest primarily in Northern Territory related infrastructure
assets, however under appropriate circumstances some funds may be invested
outside the Northern Territory, such as linking projects with other States.
partnership marks a unique, innovative and highly collaborative approach to
developing infrastructure that will support future Territory growth and
sustainability,” ICG Director Mike Fitzpatrick said.
NT Government has demonstrated national leadership in initiating a quality
infrastructure program that can operate independently of Territory or
Northern Territory presents tremendous growth opportunities as Australia’s
gateway to the north, and we are delighted to be an active, long-term partner
in realising this potential.”
NTIDF is the first of its kind in Australia and will support the development of
infrastructure using the proceeds of the sale of TIO.
the $200 million from the sale of TIO as a financial cornerstone, the fund will
seek a further $800 million of capital from Australian and overseas investors
to create a $1 billion investment pool, which should generate at least $3
billion in infrastructure investment,” Mr Tollner said.
NTIDF is a down-payment on the Territory’s future growth – an investment that
will deliver jobs and prosperity for years to come.
Country Liberals Government will not sit on its hands waiting for the next
Inpex project to come along – we have a plan to build a prosperous economy and
we are implementing it.
major initiative is part of the Country Liberals Government’s plan to continue
to diversify and support the NT economy following Labor’s massive debt legacy.”
learn more about the NTIDF go to http://www.treasury.nt.gov.au/Economy/NTIDF/Pages/default.aspx
Media Contact: Marnie Hobson 0409 527 909
Capital Group (ICG)
Group is an Australian specialist infrastructure fund manager that targets the
mid-market infrastructure sector. Owned and led by some of Australia’s most
experienced infrastructure investors and operators, including industry veterans
Mike Fitzpatrick, John Clarke and Andrew Pickering, ICG manages over $1.5
billion across its two funds, the Diversified Infrastructure Trust (DIT) and
the Energy Infrastructure Trust (EIT). The DIT portfolio comprises a mix of GDP
and CPI-linked assets across airports, seaports and social infrastructure,
whilst EIT targets investment in utilities and assets with long term CPI linked
contracts, which include gas pipelines, renewable and gas fired power
generation. ICG also offers separate accounts to institutions seeking more
direct exposure to assets. Established in 2000, ICG is 100% staff owned with
offices in Melbourne, Sydney and Brisbane.