The $100m acquisition is expected to be transferred to the to-be-launched overseas infrastructure fund which will focus on mature assets in Europe.
The Sydney-based developer intends to delist UGL after acquiring the 86% it does not already own in the business.
The infrastructure developer’s North American president has resigned to join the company’s board, and is replaced by a member of its executive management team, Brian Budden.
Recent people move
Five banks provided debt for the €220m PPP project backed by 3i Infrastructure, Heijmans and Fluor.
The firm says its Community Infrastructure Fund is starting to attract interest from global investors, having welcomed its first overseas LP earlier this year.
Brookfield’s third fund broke an industry record for size. Infrastructure head Sam Pollock, renewable energy CEO Sachin Shah and managing partner Justin Beber tell Joel Kranc how Brookfield built up to this point and what’s next.
The developer’s latest acquisitions were made through its €250m debut wind fund, bringing its total assets under management to 142MW.
The UK pension platform has appointed Pioneer Investments’ former Western Europe chief a month after bolstering its investment and investor relations teams.
Among the investors are Goldman Sachs, Global Atlantic Financial Group and FS Investments, which is sub-advised by Blackstone’s credit business GSO Capital Partners.
The joint investment platform between two Canadian pensions said it will raise $500m and commit $200m in equity to construct the projects.
The company’s European division has seen its deal to take a 14% stake in Belgian grid operator Eandis fail to conclude after conditions were unfulfilled.
The Chief Secretary to the UK Treasury David Gauke praised the work of the private equity industry in an address to LPs and GPs in London on Thursday.
The UK Green Investment Bank was joined by Investec, Siemens Bank and Crédit Agricole in providing debt for the £142m project.
The assets, valued at $285m, are part of the company’s plan to monetise its non-core businesses, including roads and power, and focus on other growth sectors.