The Community Infrastructure Fund (CommIF), managed by AMP Capital, has acquired a stake in one of Australia’s newest stadiums in Western Australia for an undisclosed price.

It bought a 50% interest in a consortium, known as Westadium, which has a 25-year concession to run what is branded as Optus Stadium in Perth.

The Westadium consortium, which co-financed, designed and built the stadium, includes Aberdeen Standard Investments and John Laing, along with the design and construction and operation and maintenance subsidiaries of Brookfield.

CommIF acquired the interest from John Liang, a UK-listed developer and operator of privately financed public sector projects. John Liang was both the investor and manager for the Perth project.

IPE Real Assets understands that the enterprise value of the stadium is about A$1.5bn (€936m). The state government contributed about 60% of the capital cost of the of the project, but it no longer has a financial interest in the stadium.

Optus Stadium, which was completed last year, accommodates a range of entertainment and sporting events, including cricket, rugby union, rugby league, AFL, soccer and concerts.

CommIF fund manager Charles Savage said: “With the interest acquired in Westadium, CommIF’s portfolio increases to 14 social infrastructure assets.”

Savage said the latest investment would deliver secure and predictable revenue streams.

CommIF invests in high-yield, brownfield, social infrastructure assets in Australia and New Zealand with a focus on education, health, correctional facilities, community housing, water and recreational facilities.

The acquisition in Westadium increases total assets under management to A$3.7bn, with more than A$830m in equity invested.