Caisse de dépôt et placement du Québec (CDPQ) has acquired a 24.9 percent equity stake in the public-private partnership contract for the trains, systems, operations and maintenance of Sydney Metro, an Australian public transport project. The deal is valued at $150 million.
CDPQ invests in Sydney Metro, Australia’s first driverless metro system
MONTRÉAL AND SYDNEY, NOVEMBER 27, 2019
Acquisition of a 24.9% equity stake in the extended Sydney Metro trains, systems, operations and maintenance public-private partnership (PPP) contract
Total transaction value of AUD 167 million (CAD 150 million)
Strategic partnership with local and international investors combining operational and financial expertise
Caisse de dépôt et placement du Québec (CDPQ), a global institutional investor, announces today the acquisition of a 24.9% stake in the public-private partnership (PPP) contract for the trains, systems, operations and maintenance of Sydney Metro, Australia’s biggest public transport project, which includes both the North West and City & Southwest lines. The total value of the transaction is AUD 167 million (CAD 150 million). Other investors include MTR Corporation Limited, Marubeni Corporation, Plenary Group and CIMIC Group Limited.
The Metro North West Line opened in May 2019 with 13 metro stations in Sydney’s North West. It is being extended into the Sydney city centre and beyond to Bankstown by 2024, when Sydney will have 31 metro stations and a stand-alone 66-km metro railway.
“The Sydney Metro is a transformative project for the city and for thousands of people who look to public transport for fast and efficient travel each day. This transit system will expand sustainable mobility in the region and contribute to the transition toward a low-carbon economy by compounding the benefits of mass transit, electrification and energy from renewable sources,” said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure, CDPQ. “This investment is perfectly aligned with our strategy to invest in high-quality infrastructure assets, alongside partners with a deep understanding of the market and vast operational expertise.”
Sydney Metro Map.
CDPQ’s strong presence in Australia
In addition to its investment in Sydney Metro, CDPQ acquired earlier this year a minority stake in Healthscope, a private hospital operator. In 2016, CDPQ collaborated with the founders of Greenstone to acquire a 44% interest in this leading Australian insurance distributor. In infrastructure, CDPQ is also a shareholder and long-term partner of Plenary Group, having invested in several Plenary-originated Australian projects since 2012. CDPQ also holds a 22.5% interest in TransGrid, the electricity transmission network of the State of New South Wales and the Australian Capital Territory, and 26.7% of the Port of Brisbane.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2019, it held CA$326.7 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
For more information
+1 514 847-5493