Consortium of KKR and the Skip Essential Infrastructure Fund to acquire Majority Stake in Queensland Airports
KKR and the Skip Essential Infrastructure Fund have announced a consortium agreement to acquire a 74.25% stake in Queensland Airports from The Infrastructure Fund, State Super, and Australian Retirement Trust. Queensland Airports operates Gold Coast, Townsville, Longreach, and Mount Isa airports, serving 39 domestic and 6 international routes with nearly 66,700 annual aircraft movements.
Andrew Jennings, Managing Director & Head of Australia and New Zealand Infrastructure at KKR, emphasized the opportunity to invest in a high-quality asset providing critical services in a resilient market. The investment aligns with KKR's infrastructure strategy in Australia, focusing on transportation, energy, utilities, and telecommunications sectors.
The transaction, expected to close in late 2024, is subject to regulatory approvals. Financial details were not disclosed.
KKR e il Skip Essential Infrastructure Fund hanno annunciato un accordo di consorzio per acquisire una partecipazione del 74,25% in Queensland Airports da The Infrastructure Fund, State Super e Australian Retirement Trust. Queensland Airports gestisce gli aeroporti di Gold Coast, Townsville, Longreach e Mount Isa, operando su 39 rotte domestiche e 6 internazionali con quasi 66.700 movimenti aerei annuali.
Andrew Jennings, Amministratore Delegato e Responsabile delle Infrastrutture per l'Australia e la Nuova Zelanda presso KKR, ha sottolineato l'opportunità di investire in un asset di alta qualità che fornisce servizi fondamentali in un mercato resiliente. L'investimento è in linea con la strategia infrastrutturale di KKR in Australia, focalizzandosi sui settori dei trasporti, energia, servizi pubblici e telecomunicazioni.
La transazione, che dovrebbe chiudersi entro la fine del 2024, è soggetta ad approvazioni regolamentari. I dettagli finanziari non sono stati divulgati.
KKR y el Skip Essential Infrastructure Fund han anunciado un acuerdo de consorcio para adquirir una participación del 74,25% en Queensland Airports del The Infrastructure Fund, State Super y Australian Retirement Trust. Queensland Airports opera los aeropuertos de Gold Coast, Townsville, Longreach y Mount Isa, atendiendo 39 rutas nacionales y 6 internacionales con casi 66,700 movimientos anuales de aeronaves.
Andrew Jennings, Director General y Jefe de Infraestructura para Australia y Nueva Zelanda en KKR, enfatizó la oportunidad de invertir en un activo de alta calidad que proporciona servicios críticos en un mercado resistente. La inversión está alineada con la estrategia de infraestructura de KKR en Australia, enfocándose en los sectores de transporte, energía, servicios públicos y telecomunicaciones.
La transacción, que se espera cerrar a finales de 2024, está sujeta a aprobaciones regulatorias. Los detalles financieros no fueron revelados.
KKR과 Skip Essential Infrastructure Fund는 Queensland Airports의 74.25% 지분을 인수하기 위한 컨소시엄 계약을 체결했다고 발표했습니다. 해당 지분은 The Infrastructure Fund, State Super 및 Australian Retirement Trust로부터 인수됩니다. Queensland Airports는 골드코스트, 타운스빌, 롱리치 및 마운트 아이자 공항을 운영하며, 39개의 국내 및 6개의 국제 노선을 서비스하고 연간 거의 66,700회의 항공기 운항을 지원합니다.
Andrew Jennings, KKR의 호주 및 뉴질랜드 인프라 부문 전무이사는 탄탄한 시장에서 중요한 서비스를 제공하는 고품질 자산에 투자할 기회를 강조했습니다. 이 투자는 호주에서의 KKR의 인프라 전략과 일치하며, 교통, 에너지, 공공 서비스 및 통신 부문에 중점을 두고 있습니다.
이번 거래는 2024년 말에 마무리될 예정이며, 규제 승인을 받아야 합니다. 재정적 세부사항은 공개되지 않았습니다.
KKR et le Skip Essential Infrastructure Fund ont annoncé un accord de consortium pour acquérir une participation de 74,25% dans les aéroports du Queensland auprès du The Infrastructure Fund, State Super et de l'Australian Retirement Trust. Les aéroports du Queensland gèrent les aéroports de Gold Coast, Townsville, Longreach et Mount Isa, offrant 39 liaisons domestiques et 6 liaisons internationales avec près de 66 700 mouvements d'avions par an.
Andrew Jennings, Directeur Général et Responsable des Infrastructures pour l'Australie et la Nouvelle-Zélande chez KKR, a souligné l'opportunité d'investir dans un actif de haute qualité fournissant des services essentiels dans un marché résilient. L'investissement s'inscrit dans la stratégie d'infrastructure de KKR en Australie, axée sur les secteurs des transports, de l'énergie, des services publics et des télécommunications.
La transaction, qui devrait se conclure fin 2024, est soumise à des approbations réglementaires. Les détails financiers n'ont pas été divulgués.
KKR und der Skip Essential Infrastructure Fund haben eine Konsortialvereinbarung zur Übernahme einer 74,25%igen Beteiligung an den Queensland Airports von The Infrastructure Fund, State Super und dem Australian Retirement Trust bekannt gegeben. Queensland Airports betreibt die Flughäfen Gold Coast, Townsville, Longreach und Mount Isa und bietet 39 nationale und 6 internationale Routen mit fast 66.700 Flugbewegungen pro Jahr an.
Andrew Jennings, Managing Director und Leiter der Infrastruktur in Australien und Neuseeland bei KKR, betonte die Gelegenheit, in ein qualitativ hochwertiges Asset zu investieren, das in einem resilienten Markt kritische Dienstleistungen bereitstellt. Die Investition entspricht der Infrastrukturstrategie von KKR in Australien, die sich auf die Sektoren Verkehr, Energie, Versorgungsunternehmen und Telekommunikation konzentriert.
Die Transaktion, die Ende 2024 abgeschlossen werden soll, steht unter dem Vorbehalt der Genehmigung durch die Aufsichtsbehörden. Finanzielle Einzelheiten wurden nicht bekannt gegeben.
- Acquisition of a 74.25% stake in Queensland Airports, a critical infrastructure asset
- Queensland Airports serves 39 domestic and 6 international routes
- Investment aligns with KKR's infrastructure strategy in Australia
- Potential for growth initiatives to better serve passengers
- None.
Insights
This acquisition of a majority stake in Queensland Airports by KKR and Skip Essential Infrastructure Fund is a significant move in the infrastructure investment space. The deal involves 74.25% ownership of a portfolio comprising four airports, including the strategically important Gold Coast Airport. While financial details weren't disclosed, the transaction's scale suggests it's likely a multi-billion dollar deal.
The investment aligns with KKR's stated focus on transportation and infrastructure in the Asia-Pacific region, particularly in Australia. It's part of a broader strategy to capitalize on the region's growth and connectivity needs. For KKR investors, this represents potential for stable, long-term returns typically associated with infrastructure assets, especially given Queensland's position as a high-growth corridor.
The involvement of Skip Capital, through its Essential Infrastructure Fund, adds further credibility to the deal. Their plans to enhance airport offerings and drive energy innovation could potentially increase the asset's value over time. However, investors should note that airport investments can be sensitive to economic cycles and travel trends, which could impact returns in the short to medium term.
This acquisition is strategically significant for both KKR and the Australian aviation sector. Queensland Airports' portfolio serves 39 domestic and 6 international routes, handling nearly 66,700 annual aircraft movements. This extensive network positions the investment to benefit from Australia's robust domestic travel market and the gradual recovery of international tourism post-pandemic.
The Gold Coast Airport, in particular, is a key asset due to its location in one of Australia's fastest-growing regions and popular tourist destinations. This could drive significant passenger growth and revenue opportunities in the coming years. The inclusion of regional airports like Longreach and Mount Isa also provides diversification and essential connectivity for remote communities.
For KKR shareholders, this move diversifies the firm's portfolio further into stable infrastructure assets, potentially providing a hedge against market volatility. It also demonstrates KKR's commitment to its Asia Pacific infrastructure strategy, which could attract more capital from investors seeking exposure to this high-growth region. However, the success of this investment will depend on factors such as tourism recovery, regional economic growth and the consortium's ability to improve operational efficiency and introduce value-adding initiatives at these airports.
Queensland Airports’ portfolio comprises
Andrew Jennings, Managing Director & Head of
In
KKR is making this investment from its Asia Pacific Infrastructure Investors II Fund. This follows KKR’s announcement in June 2024 at the Indo-Pacific Partnership for Prosperity to mobilise infrastructure in the Indo-Pacific region, and marks KKR’s latest infrastructure investment in the ANZ region. Past investments in ANZ infrastructure have included: Spark Infrastructure, which owns high-quality, regulated electricity networks across
Skip Capital CEO and founder Kim Jackson, said “The Skip Essential Infrastructure Fund is proud to back the
Skip Capital is making this investment from the Skip Essential Infrastructure Fund. Past investments include data centre owner and operator Stack Infrastructure Australia, Energy Bay, Group Homes Australia and Spark Infrastructure.
The transaction is expected to close in late 2024, subject to customary conditions including regulatory approvals. Financial details were not disclosed.
KKR and the Skip Essential Infrastructure Fund were advised by RBC Capital Markets as financial advisor and Gilbert + Tobin as legal counsel.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
About Skip Capital
Skip Capital is an Australian private investment company and one of
Skip Capital is investing into Queensland Airports through the Skip Essential Infrastructure Fund. This strategy invests in real asset businesses which are delivering innovative and essential solutions to improve society and the planet. SEIF is focused on climate, data, waste, water, transport and health.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240925741391/en/
For more information, please contact:
KKR Asia Pacific
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com
Sodali & Co
James Strong
+61 (0)448 881 174
James.Strong@sodali.com
Source: KKR
FAQ
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