Granite Capital Pty Ltd was contracted by the Department of Treasury and Finance, Northern Territory Government to develop and propose a concept for the creation of a self-sustaining pool of infrastructure capital for the Northern Territory.
Granite Capital Pty Ltd presented its report, recommending that the Northern Territory Government take the actions necessary in this report to establish the Northern Territory Infrastructure Development Fund (NTIDF). A copy of this report can be requested by emailing firstname.lastname@example.org.
The Northern Territory Government announces the creation of the NTIDF, using $ 200 million from the sale of the Territory Insurance Office (TIO) as a financial cornerstone of the fund.
The interim Board of the NTIDF invited suitably qualified organisations with a proven ability to originate and develop infrastructure investment opportunities to submit an “expression of interest” for the role of investment manager for the NTIDF.
The Northern Territory Government announced that 6 “expressions of interest” had been received for the position of investment manager for the NTIDF.
The Northern Territory Government announced that Infrastructure Capital Group (ICG) had been selected as the investment manager for the NTIDF.
Mr Les Fallick is appointed as the first Chairman of the Board.
The full Board of the NTIDF is appointed and is comprised of:
- Les Fallick
- Bill Moss
Former head of Macquarie Bank real estate and banking divisions
- James Paspaley
Executive Director of Paspaley Pearls
- Jodie Ryan
Under-Treasurer of the Northern Territory Government
- Mark Burgess
Former Managing Director of the Future Fund.
A Northern Territory election resulted in a change of government, with the Australian Labor representative Mr Michael Gunner being sworn in as Chief Minister.
The new Northern Territory Cabinet, including the Chief Minister, Mr Michael Gunner and the Treasurer, Ms Nicole Manison, confirmed the $200 million investment in the NTIDF