InfraRed Capital Partners has sold part of the Transmission Gully Motorway project in New Zealand to a local infrastructure investor.
InfraRed said one of its value-add fund has sold a 40% interest in the 17-mile state motorway, allowing it to realise “the value created through the construction process for its investors”.
Financial details were undisclosed.
InfraRed was one of four equity investors in the Wellington Gateway Partnership (WGP), which delivered the Transmission Gully project in Wellington under an availability-based public-private partnership with the New Zealand Transport Agency.
WGP was responsible for financing, designing and constructing the motorway, as well as its ongoing operations and maintenance since it opened to the public in March 2022.
Stephane Kofman, head of value-add funds, InfraRed, said: “Transmission Gully is a highly successful piece of essential infrastructure for the Wellington region, and this sale is testament to our ability to create attractive infrastructure assets for prospective buyers and deliver value for investors.”
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