Northern Territory fund makes investment debut with NT Beverages
Media release, 28 February 2018
The Northern Territory Infrastructure Development Fund (NTIDF) has completed its first investment with a major stake in Darwin based bottled water production company, NT Beverages.
NT Beverages extracts and bottles high quality mineral-rich natural artesian spring water which it distributes under the growing brand ‘Akuna Springs’.
The group has rapidly grown since it opened its bottled water plant facility in East Arm in 2016 and is now an established producer of high quality Australian water products. In addition to expanding its domestic foothold, the company has secured a major customer in Korea with China, Bahrain, Dubai and India as future target export markets. The company’s operational infrastructure can also manufacture products for other beverage providers under contract.
The NTIDF investment in NT Beverages will fund expansion of production capability and rapid growth of the NT’s only bottled water business facilitating significant exports from the Territory.
Les Fallick, Chairman of the NTIDF, said the investment in NT Beverages is the first of a number anticipated for the fund which has a mandate to invest in projects that support the long term economic growth of the Territory.
“With major international markets on its doorstep, NT Beverages is well placed to grow export sales, create employment and training opportunities and reinforce Darwin’s strategic advantage as a manufacturing and shipping hub.”
Advising and overseeing the investment is Australian specialist asset manager Infrastructure Capital Group (ICG), who has been engaged by the NTIDF to assess, select and manage the Fund’s investments.
ICG is an independent Australian-based boutique infrastructure investment manager with over A$1.6 billion of equity funds under management and has established a Darwin office to support the NTIDF. The Darwin team is currently assessing a broad pipeline of projects for the NTIDF.
Refer to notes below, or please contact David Lovell on +61 8 8914 8832
About the Northern Territory Infrastructure Development Fund (NTIDF)
The NTIDF is an independent fund entity that aims to build a diversified portfolio of infrastructure investments that support the long term economic growth and development of the Northern Territory (NT) and generate returns to investors. The NT Government has seeded the fund with a $200 million investment and the NTIDF is in the process of raising private capital from external Australian and international institutional investors. The NTIDF seeks to invest primarily in NT related infrastructure assets which may include “greenfield developments”, “brownfield projects”, capital investments in existing companies and other infrastructure related investments. The NTIDF may also invest in projects outside the NT, such as linking projects with other investors or other Australian states. The fund will generate a commercial risk adjusted rate of return for investors including the NT Government.
The NTIDF is governed by an independent Board comprising five independent directors, which play an advisory role and includes a representative from the Northern Territory Government.
The NTIDF is an important economic initiative, the first of its kind in Australia. ICG was selected by the NT Government and NTIDF as manager of NTIDF investments. The firm manages the NTIDF portfolio as a separate account with a ten-year horizon.
For more information on NTIDF go to www.ntidf.com.au
About Infrastructure Capital Group
Infrastructure Capital Group is an independent Australian-based infrastructure fund manager that targets the mid-market infrastructure sector. ICG has over A$1.6 billion in funds under management which includes the Diversified Infrastructure Trust (DIT) and the Energy Infrastructure Trust (EIT). The DIT portfolio comprises a mix of GDP and CPI-linked assets across airports and seaports, whilst EIT targets investment in utilities and assets with long term CPI-linked contracts, which include gas pipelines, renewables and gas fired power generation. ICG also offers separate accounts tailored to investors seeking more control and direct exposure to assets. Established in 2000, ICG is 100% staff owned with offices in Melbourne, Sydney Perth and Darwin.
For more information on Infrastructure Capital Group go to www.infrastructurecapital.com.au