Palisade's Diversified Infrastructure Fund acquires 32% of ANZ Terminals

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Palisade's Diversified Infrastructure Fund acquires 32% of ANZ Terminals

Palisade Investment Partners Limited, a specialist, independent infrastructure manager, has achieved financial closure to acquire 32% stake in ANZ Terminals.

ANZ Terminals Pty. Ltd. owns and operates bulk liquid and gas storage facilities in Australia and New Zealand. The company was incorporated in 2005 and is based in Docklands, Australia. The fimr own facilities that comprise c.375,000m3 of current capacity with the majority of revenue derived from leasing tanks on a "take-or-pay" contracted basis.

Palisade was joined in the transaction by several Australian and Canadian investors, including Toronto-based Northleaf Capital Partners.

Palisade has acquired ANZ Terminals through its Palisade's Diversified Infrastructure Fund (PDIF) which invests in a diverse range of infrastructure assets, and two Direct Investment Management mandate clients managed by the firm. PDIF has delivered total returns of 13.6 per cent over the last three years, with income of 6.3 per cent and capital growth of 7.3 per cent.

 PDIF is focused on mid-market port and energy infrastructure. The fund's assets include:

  • Port of Portland,
  • Darwin and Alice Springs Airports,
  • Hallett 1 and Waterloo wind farms,
  • Merredin Energy Power Station and
  • Tasmanian Gas Pipeline.

ANZ Terminals had been sold to Macquarie Group for $525 million on 30 June 2014. Later in mid October Macquarie announced its plans to sell a stake in its investment in ANZ Terminals. UBS was appointed by Macquarie to handle the sale.

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