Partners Group exits Australia cancer clinic

Financial details have not been disclosed. Partners Group provided an unspecified amount of funding to the business during its development stage in 2012, citing strong upside related to government-connected revenue streams. AMP invested via its Community Infrastructure Fund (CommIF), which is mandated to make deployments of at least A$10 million ($7.9 million).

Partners Group was part of the winning Plenary Health consortium selected by the Victorian government in 2011 to deliver the VCCC as a public-private-partnership (PPP) project. The A$1 billion project was finished on time and on budget, and became operational in mid-2016 with a 25-year agreement for ongoing maintenance. 

VCCC comprises a 13-story building housing a cancer treatment center with 160 inpatient beds, 110 day beds, and eight operating theatres. It can host up to 1,200 researchers and offers education and training facilities.

"With the facility now fully operational, and having received strong interest from potential buyers, Partners Group decided to divest its stake in this groundbreaking center ahead of the original investment plan to an experienced investor with a long-term investment horizon and a socially responsible investment remit,” Benjamin Haan, partner and head of private infrastructure Asia at Partners, said in a statement.

The transaction follows a $360 million fundraising for CommIF from new and existing investors. The fund targets high-yield, brownfield, social infrastructure PPP assets in Australia and New Zealand in sectors including health, education, justice, defense, community housing, recreational facilities, and transport. It now has 13 assets worth more than $650 million.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Australasia
• Healthcare
• Infrastructure
• Trade sale
• Australia
• Partners Group
• AMP Capital Investors