An open-ended infrastructure fund managed by Brookfield Asset Management has bought portfolio of Spanish infrastructure concessions from DIF Capital Partners.
Infrastructure fund manager DIF said its DIF Infrastructure Fund III (DIF III) fund, alongside its co-investors Swiss Life Asset Managers and Industriens Pension, have agreed the sale of its stakes in the infrastructure concessions to Brookfield Super-Core Infrastructure Partners for an undisclosed sum.
DIF said the portfolio includes significant shareholdings in concessions of the Majadahonda hospital in Madrid; the Line 9 section IV metro stations in Barcelona; and three transport hubs in Madrid: Avenida de America, Plaza de Castilla and Principe Pio.
Andrew Freeman, head of exits at DIF Capital Partners said this the company’s first major exit in the Spanish infrastructure concession market, and represents an attractive exit for DIF III and its co-investors.
“It is part of our strategy of proactively targeting the sale of assets from our mature funds which have been successfully optimised.”