Patrizia and Mitsui & Co’s APAC Sustainable Infrastructure Fund (A-SIF) has acquired a majority stake in Philippines-based parking facilities developer Parkwise, with plans to invest up to $250m to back its project pipeline.
Parkwise, a newly established business, develops parking facilities with electric vehicle charging and rooftop solar at healthcare, education and transport hubs in major Philippine cities.
The deal is the second transaction by A-SIF in the Philippines in recent months, following its investment in one of the country’s solar energy companies in September 2024.
Saji Anantakrishnan, the head of infrastructure for Australia and Asia at Patrizia, said: “We are excited to introduce Parkwise to the Philippine market, as the adoption of climate-friendly mobility solutions is a critical element of the low-carbon transition to meet net zero goals.
“Our partnership model ensures that we bring unparalleled expertise and experience to this venture. Together, we are committed to enhancing mobility and co-located social infrastructure, supporting the Philippines’ rapid growth in a sustainable manner.”
Alf Wilson, director at Parkwise, said: “Our vision is to create a network of high-quality parking facilities that not only meet current demands but also anticipate future needs.
“We believe that our integrated approach will significantly contribute to the growth of sustainable mobility in the Philippines.”
Phoebe Smith, the head of RE-Infra fund management at Patrizia, said: “Parkwise’s projects are part of the convergence between infrastructure and real estate, where installing infrastructure assets creates additional value for the underlying real estate investments.
“In this instance, this is an attractive infrastructure investment which benefits real estate locations, serving to illustrate the abundance of RE-Infra projects in the sector, which we see growing significantly and supporting our AUM growth targets through RE-Infra investments of at least €4bn by 2030.”
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