International Public Partnerships (INPP) is investing in a major university infrastructure project in Australia as part of a consortium led by Tetris Capital.
Amber Infrastructure Group, the investment adviser of the London-listed infrastructure fund, said it had reached a financial close on the investment in Flinders University’s Health and Medical Research Building (HMRB) in South Australia.
The 10-storey, 22,000sqm development is intended to expand the research capacity of Flinders University and the project value has been valued at A$255m.
INPP and Flinders University will enter into a 25-year, index-linked lease and the university will own the facility when it expires. Tetris Capital will provide ongoing management services to the project.
It marks a first move into Australia’s higher-education sector for Amber, which manages A$7bn of Australian infrastructure assets in the public, healthcare, transport, energy and digital sectors.
Investments include the Royal Children’s Hospital, Gold Coast Light Rail, a portfolio of schools in New South Wales and Victoria, and a recently acquired majority stake in Australian data-centre platform iseek.
Vaughan Wallace, head of Asia-Pacific at Amber, said: “This investment is a good example of Amber Australia harnessing our global platform and industry knowledge to move quickly when opportunities arise.
“We provide flexible financing structures tailored to meet the needs of all stakeholders on projects that add value to their operating environments.
“As South Australia’s third largest university, Flinders University has ambitious development plans for its advanced health and medical research precinct.
“Amber Australia has responded quickly to meet this funding project’s relatively short timeline, allowing us to facilitate their growth and development strategy.
“With its excellent ESG credentials, HMRB was a good match for our strict funding criteria, which ensures essential infrastructure assets increase long-term value for our investors and the communities involved.
“We are therefore excited to assist in financing this flagship project – our first super-core public-private partnership (PPP) in Australia’s university sector.”
