News / Fiera Axium Infrastructure closes the Sorel-Tracy Detention Centre PPP in Quebec

Fiera Axium Infrastructure closes the Sorel-Tracy Detention Centre PPP in Quebec

🕔 October 14, 2013
US$3 billion final close for Macquarie Super Core Infrastucture Fund Series 1

Fiera Axium Infrastructure Canada II L.P. announced last week the successful closing of the Sorel-Tracy Detention Centre PPP on July 26, 2013. The project is the first detention center PPP in Québec.

The project involves the design, construction, financing and facilities management services of a 23,400m² detention centre that will contain 300 jail cells and 80 beds located in different dormitories in order to accommodate discontinued sentences.

Fiera Axium Infrastructure, through a single purpose project company - Horizon Justice Sorel Tracy L.P., leads a consortium for the design, build, finance and maintenance of the new Detention centre over a period of 30 years under a project agreement with the Société immobilière du Québec (SIQ). The firm was announced as preferred bidder for the project in April 2013.

Horizon Justice Sorel Tracy L.P. has subcontracted the design & construction activities for the project to Pomerleau Inc., the largest construction firm in Québec. Maintenance activities for the full term of the concession have been subcontracted to Johnson Controls. Upon completion of the facility, Horizon Justice Sorel Tracy L.P. will receive monthly availability payments from the SIQ.

Dominic Chalifoux, Vice President and Senior Asset Operations Director of Fiera Axium Infrastructure Inc., manager of Fiera Axium Infrastructure Canada II L.P. said:

"This transaction represents Fiera Axium's second investment in PPP in Québec and is a significant milestone for our recently raised second infrastructure fund."

Fiera Axium Infrastructure manages two dedicated infrastructure funds having in excess of $800 million in assets under management. One of them, Fiera Axium Infrastructure Canada II L.P., is an open-ended infrastructure fund focused on direct investment in both operational and greenfield development opportunities. The Fund seeks to invest in core energy, transportation and social infrastructure assets across Canada.

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