The NTIDF is an Australian infrastructure fund which operates at arm’s length from the Northern Territory Government.
It is intended that the NTIDF will be structured as a traditional 10 year closed end commercial infrastructure fund, which is an arrangement that will be familiar to most institutional investors.
Selected institutional investors will be able to buy a fixed amount of units in the fund. The units will not be redeemable but they could, under certain circumstances, potentially be on-sold to other investors.
The NTIDF is governed by an independent Board comprising:
- An independent Chairman;
- Three independent Directors; and
- A representative of the Northern Territory Department of Treasury and Finance.
To date the NTIDF has a commitment from the Northern Territory Government to invest $200 million in the fund.
It is the plan of the NTIDF to raise up to a further $800 million from international and Australian institutional investors.