A fund managed by , State Super and Australian Retirement Trust (ART) is selling its 74.25% interest in Queensland Airports Limited (QAL) to a consortium comprising KKR and Skip Capital.
The Infrastructure Fund (TIF) has agreed to sell QAL which owns and operates Gold Coast, Townsville, Mount Isa and Longreach airports.
Financial details were not disclosed, but Australian sources told 91传媒在线 that a reported figure of A$3bn (鈧�1.84bn) was close to the mark.
The remaining 25.75% is held by the Perth-based privately-owned Perron Group.
KKR is investing from its Asia Pacific Infrastructure Investors II Fund, while Skip Capital is contributing from its Skip Essential Infrastructure Fund.
Andrew Jennings, managing director and head of Australia and New Zealand infrastructure at KKR, said: 鈥淥ur investment in Queensland Airports is a unique opportunity to acquire a high-quality asset that provides critical services in a resilient market with strong macro tailwinds.
鈥淨ueensland Airports plays an important role in connecting Queensland communities to the rest of Australia and beyond.鈥�
Skip Capital CEO and founder Kim Jackson said: 鈥淭he Skip Essential Infrastructure Fund is proud to back the Gold Coast, Townsville, Longreach and Mount Isa airports.
鈥淎longside delivering critical transport into one of Australia鈥檚 highest growth corridors of the Gold Coast, we are excited about our plans to lift the airport鈥檚 offering for residents and tourists, and drive energy innovation across the group.鈥�
Amanda McMillan, senior MD at , said: 鈥淭his is an excellent example of private capital supporting airports to meet growing capacity needs and traveller expectations by investing in upgraded and expanded infrastructure that will serve these growing regions of Australia for years to come.鈥�
John Livanas, State Super鈥檚 CEO, said: 鈥淭his transaction captures the value we have created for our members and is an outstanding outcome for our funds. We look forward to seeing the future success of all the airports in the QAL portfolio.鈥�
Michael Weaver, head of global real assets at ART, said: 鈥淥ur capital helped support this investment to grow over many years but we now look forward to new investors coming in, and managing these assets as they enter a new phase.鈥�
Amelia Evans, QAL鈥檚 CEO, said: 鈥淨AL is grateful for the close working relationship we shared with our investment partners TIF, State Super and ART to successfully deliver an exciting vision for the company, and we look forward to continuing to work closely with our long-standing existing investors.鈥�
Florence Chong contributed to this story
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