BRISBANE, Australia,
Oct. 7, 2015 /PRNewswire/ -- A QIC
led consortium has entered into a binding agreement to acquire
the Iona Gas Storage Facility (Iona) west of Melbourne in Victoria, Australia,
from EnergyAustralia, a member of the China Light & Power
Group.
The successful QIC Consortium comprising the QIC Global
Infrastructure Fund (QGIF) and existing QIC clients
will acquire Iona for a purchase price of
A$1.78 billion.
Financial close is expected to occur in the
December-quarter 2015.
Ross Israel, Head of QIC Global Infrastructure said, "I'm
delighted that we have been able to achieve this outcome for
our clients and QGIF, our pooled global infrastructure fund. For
QGIF, it builds on the successful first close achieved on
4 August 2015.
"Iona is a strategic, high-quality infrastructure asset in the
Australian east coast gas market. It provides essential storage
facilities to domestic integrated utilities to service intermediate
and peak gas demand.
"We believe Iona is an attractive core infrastructure asset for
our clients with an essential role in the Australian east coast
energy supply value chain. It has long term contracts with its
customers, which underpin stable and predictable cashflows while
also presenting a platform for further growth and expansion
opportunities."
About Iona:
- Iona was the first underground natural gas storage
facility in Australia.
- With a storage capacity of 23.5 petajoules, Iona is a
significant storage facility servicing South-Eastern
Australia.
- Iona has long term contracts with major integrated gas and
electricity providers.
- The storage facility and associated processing plant
is strategic in the supply of gas and generation of
electricity to customers in Victoria, South
Australia and up the east coast of Australia.
About QIC:
QIC is a global diversified alternatives investment firm
offering infrastructure, real estate, private equity, liquid
strategies and multi-asset investments. It is one of the largest
institutional investment managers in Australia, with A$73.8
billion (US$56.9
billion)1 in funds under management,
offering infrastructure, real estate, private equity, liquid
strategies and multi-asset investment services. QIC has over 90
clients including governments, pension plans, sovereign wealth
funds and insurers, spanning Australia, Europe, Asia,
Middle East and the US.
Headquartered in Brisbane,
Australia, QIC also has offices in New York, San
Francisco, Los Angeles,
London, Sydney, and Melbourne. For more information, please visit:
www.qic.com.
About QIC's Global Infrastructure Business:
QIC is a long-term infrastructure investor with an established
global platform. We currently manage A$6.0
billion (US$4.6
billion)2 across 10 global direct investments,
spanning transport, utilities and public-private partnership assets
and have realized a further A$6.6
billion (US$5.1 billion) of
investments for our clients. Our sector-centric investment strategy
deconstructs risk across sector value chains, identifies relative
value for investment, and drives a targeted origination approach
that has enabled us to build diversified portfolios for our
clients, protecting their capital while delivering strong total
returns since 2006.
About QGIF:
QGIF is an unlisted investment vehicle that seeks to provide
institutional investors with access to attractive, risk-adjusted
returns through long-term exposure to a diversified portfolio of
global infrastructure assets. The Fund has secured commitments from
a range of institutional investors including Hostplus, one of
Australia's largest pension
funds, an Asian sovereign wealth fund and one of China's leading insurers.
For further information please contact:
New
York: Kimberly
Kriger Kekst and
Company +1 212 521
4800 kimberly-kriger@kekst.com
|
London: Ben Welsh Certus Communications +44 20 7568 382040
benwelsh@certuscc.com
|
About the QIC Global Infrastructure Fund:
The Fund is intended for offer to substantial institutional
and professional investors ("Accredited Investors" as defined in
Regulation D of the Securities Act or "Qualified Purchasers" for
Investment Company Act purposes). The Fund's investment
minimum is $20 million and the
investor must understand and capable of bearing the risk of
possible loss of that investment. This press release does
not constitute an offer or solicitation in any jurisdiction to any
person or entity to which it is unlawful to make such offer or
solicitation in such jurisdiction.
Alternative investments are speculative and involve a great
degree of risk and are not suitable for all investors. An
investment in the Interests offered hereby involves risk and is
suitable only for investors that have substantial financial
resources in relation to their investment in the Interests and that
understand both the tax consequences and particular risk factors of
this investment. Private funds are not subject to the
same regulatory requirements as registered funds. The Fund
has not been and will not be registered under the U.S. Securities
Act of 1933, as amended. The Fund will not be registered as
an investment company under the U.S. Investment Company Act of
1940, as amended. Investors will not be afforded the
protections of the Investment Company Act.
An investment in the Fund will involve significant risks due,
among other things, to the nature of the Fund's investments.
Investors should have the financial ability and willingness to
accept the risks and lack of liquidity that are characteristic of
the investments described herein. No assurance can be given that
the Fund's investment objective will be achieved or that investors
will receive a return of their capital. Potential investors should
carefully read the information under.
There will be no public market for the Fund, and there is no
obligation on the part of any person to register the Interests
under the Securities Act or any blue sky law. Accordingly,
investors should be aware that they will be required to bear the
financial risks of an investment in the Fund for an indefinite
period of time.
The Fund is subject to restrictions on transferability and
resale and may not be transferred or resold except as permitted
under the Securities Act and the applicable blue sky laws.
Additionally, the Fund may not be directly or indirectly sold,
assigned, transferred, pledged, hypothecated, disposed or
encumbered, in whole or in part, except as provided in the
applicable limited partnership agreement of the Fund.
QIC Limited ACN 130 539 123 ("QIC") is a wholesale funds manager
and its products and services are not directly available to retail
investors. QIC is a company government owned corporation
constituted under the Queensland Investment Corporation Act 1991
(Qld). QIC is regulated by State Government legislation pertaining
to government owned corporations in addition to the Corporations
Act 2001 (Cth) ("Corporations Act"). QIC does not hold an
Australian financial services ("AFS") licence and certain
provisions (including the financial product disclosure provisions)
of the Corporations Act do not apply to QIC. Please note however
that some wholly owned subsidiaries of QIC have been issued with an
AFS licence and are required to comply with the Corporations
Act. QIC also has wholly owned subsidiaries authorised,
registered or licensed by the UK FCA, USA SEC, Irish Central Bank and Korean
FSS.
For more information about QIC Limited ACN 130 539 123 ("QIC"),
our approach and regulatory framework, please refer to our website
www.qic.com or contact us directly.
This document is issued by QIC Investments No 1 Pty Ltd in the
USA. Neither this document nor any
advertisement or other offering material may be distributed or
published in any jurisdiction, except under circumstances that will
result in compliance with any applicable laws and regulations.
QIC European Investment Services Limited ("QEIS"), a wholly
owned subsidiary of QIC, is a private limited company incorporated
in England and is authorised and
regulated by the UK Financial Conduct Authority ("FCA")
(www.fca.org.uk). This authorisation allows QEIS to market its
products and provide cross border services across certain European
Economic Area States via a MiFID Corporate Passport. QIC Limited
ACN 130 539 123 ("QIC") is a wholesale funds manager and its
products and services are not directly available to retail
clients.
The promotion of unregulated collective investment schemes by
authorised persons is restricted in the UK pursuant to section 238
of FSMA. As a result, these materials are directed only at persons
who are professional clients or eligible counterparties for the
purposes of the FCA's Conduct of Business Sourcebook (together with
Investment Professionals, "Relevant Persons"). Any investment or
investment activity to which these materials relate is available,
subject to QIC's discretion, only to Relevant Persons in accordance
with the foregoing and will be engaged in only with such
persons.
As at the date of this document, the Fund has been notified,
registered or approved (as the case may be and howsoever described)
in accordance with the local law/regulations implementing the
Alternative Investment Fund Managers Directive (Directive
(2011/61/EU)) (the "AIFMD") for marketing to professional investors
into the following member state(s) of the European Economic AREA
("EEA") (each a "Member State"): Belgium, Finland, Denmark, Germany, Netherlands, Norway, Sweden, The United
Kingdom and Ireland. In
relation to other member states, this document may only be
distributed and Interests may only be offered or placed in a member
state: (i) at the investor's own initiative; or (ii) to the extent
that this document may otherwise be lawfully distributed and the
Interests may lawfully be offered or placed in that member
state.
Vittorio Lacagnina is a
registered representative with Foreside Fund Services LLC, a
broker-dealer that is not affiliated with QIC.
Copyright QIC Limited, Australia 2015. All rights are
reserved.
1 As at 30 June
2015
2 As of 30 June 2015
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SOURCE QIC