Fengate Capital Management has acquired the 40 percent equity interest held in the Oakville Trafalgar Memorial Hospital project by Carillion Canada Inc. No financial terms were released. The deal brings Fengate’s total investment in the asset to 90 percent of the equity. Oakville Trafalgar Memorial Hospital, a full-service acute care community hospital located in Oakville, Ontario, opened in December. Fengate, a Canadian infrastructure, real estate and private equity investment firm, is a member of the consortium that was selected to design, build, finance and maintain the facility.
Fengate acquires Carillion’s equity interest in the Oakville Trafalgar Memorial Hospital
OAKVILLE, ON, July 12, 2016 /CNW/ – Fengate Capital Management Ltd. (“Fengate”) announced today that it has reached financial close on the acquisition by certain funds that it manages of Carillion Canada’s (“Carillion”) 40% equity interest in the Oakville Trafalgar Memorial Hospital project (“OTMH”) as well as the rights to oversee the provision of facility management services at the hospital for the term of the contract. This acquisition brings the total investment by Fengate-managed funds in OTMH to 90% of the equity.
“Fengate is very pleased to have finalized this transaction,” said Marco Di Carlantonio, Executive Director, “The new Oakville Trafalgar Memorial Hospital is the largest healthcare transaction project closed in Ontario, with over C$1.1B in capital raised at financial close.
Hospital Infrastructure Partners (NOH) Partnership, a consortium led by Fengate Capital, EllisDon and Carillion, was awarded the contract by Halton Healthcare Services (“HHS”) to design, construct, finance, and manage the facilities of the Oakville-Trafalgar Memorial Hospital. The project successfully reached substantial completion on July 31, 2015 and opened on December 13, 2015.
“The Oakville Trafalgar Memorial Hospital is a state-of-the-art healthcare facility,” stated Mr. Di Carlantonio, “This investment provides long-term cash flows for our investors and enhances Fengate’s existing, robust portfolio of social infrastructure projects.”
Oakville Trafalgar Memorial Hospital is the latest addition to Fengate’s portfolio of healthcare facilities, further solidifying Fengate’s position as a leading Canadian investor in social infrastructure. The firm’s infrastructure portfolio includes public-private partnerships, independent power projects and operating infrastructure assets across North America, Europe and Australia.
Fengate Capital Management Ltd. (“Fengate”) is a real asset investment firm that specializes in customized investment funds with a strategic focus on infrastructure, real estate and private equity. The firm has over $2 billion in assets under management with significant experience in public-private partnerships, independent power projects and real estate developments. Fengate targets high quality investments across North America and select international markets. Since 2007, the firm has been recognized as one of “Canada’s Best Managed Companies”.
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Photo courtesy of Fengate Capital Management