APG, ABP’s asset manager, and Aberdeen Asset Management have bought a portfolio of assets classifiable as both alternatives and infrastructure.
The 16 operational properties, in the UK and Continental Europe, were sold by independent infrastructure fund manager DIF.
The Public Private Partnership (PPP) portfolio is spread across the health, education, sport and accommodation sectors.
Aberdeen will manage the assets for APG.
Ron Boots, head of infrastructure Europe at APG, said PPPs are ”at the core” of its infrastructure strategy, for their ”proven robustness and long-term, high cash-flow visibility”.
Gershon Cohen, head of infrastructure funds at Aberdeen, said interest in new and secondary infrastructure continues “unabated”.
”Investors are attracted by the opportunity to diversify their income stream with the potential of obtaining stable income over a sustained period,” Cohen said.
APG recently bought a 33% stake in a Norwegian hydropower plant operator, its first investment via its infrastructure joint venture with Aquila Capital.
ABP agreed a €500m hydropower partnership with Hamburg-based Aquila Capital in July.
Through APG, ABP committed €250m to the venture, with Aquila as operational manager.
Patrick Kanters, managing director of global real estate and infrastructure at APG, said hydropower “ticks the right boxes” in terms of risk/return profile and high cash-flow visibility.
In July, APG announced it was providing mezzanine financing for Indian infrastructure development.
Indian conglomerate Piramal Enterprises and APG will jointly invest $1bn (€800m) over the next three years.
