NYSE-listed DigitalBridge has emerged as the buyer of AMP Capital’s global infrastructure equity business in a A$699m (€474.2m) deal.
AMP said the US company’s subsidiary, DigitalBridge Investment Holdco, won the bid to take control of AMP Capital (now known as Collimate Capital).
AMP said the value was made up of approximately A$462m upfront cash payment for the management platform and seed and sponsor investments, an estimated A$57m of retained future carry and performance fees, and an additional amount of up to A$180m contingent on future fundraisings.
The management platform includes AMP’s Global Infrastructure Fund series and other related funds.
The A$9bn Collimate Capital platform owns assets including London Luton Airport/Leeds Bradford Airport/Newcastle Airport in the UK, fibre company Everstream, and US data centre company Expedient, along with an e-mobility joint venture with Enel X to boost electric pubic transport in a joint venture in Latin America.
Marc Ganzi, CEO of DigitalBridge, said the transaction represents a “unique opportunity to extend our leadership” in digital investment management.
The transaction came a day after the manager agreed to sell its Australian real estate and infrastructure equity business to Dexus in a A$1bn deal.
AMP chair, Debra Hazelton, said: “It was clear in our 2021 portfolio review that we had two businesses that would be better separated and simplified, and in doing so realise greater value – and that is what we have achieved.”
Hazelton said the AMP board would be focused on returning the majority of cash proceeds to AMP shareholders as these transactions were finalised.
AMP Chief Executive, Alexis George, said that in DigitalBridge and Dexus, AMP was confident that it had found the “right owners” for both businesses.”
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