Public Partnerships
Morrison & Co is at the forefront of New Zealand's emerging Public Infrastructure Partnership Sector.
Public Infrastructure Partnerships enable governments to accelerate the development of national and local infrastructure, while also generating attractive, low risk investor returns. Morrison & Co's strong track record of managing the construction and operation of infrastructure assets, combined with our long-standing reputation as a trusted partner to government agencies and local communities, positions us well to lead the development of this exciting market opportunity in New Zealand.
Results
The Morrison & Co Public Infrastructure Partnership Fund
In July 2009, Morrison & Co announced the launch of the Public Infrastructure Partnership Fund (PIP Fund), New Zealand's first fund dedicated to investing in public infrastructure partnerships. The New Zealand Superannuation Fund will be the cornerstone investor in the fund.
As manager of the PIP Fund, Morrison & Co works with central, regional and local government agencies, identifying opportunities to form partnerships to develop social infrastructure such as educational and healthcare facilities and student accommodation. Investments will typically be structured as long-term concession arrangements under which the Morrison &Co PIP Fund will finance, build and maintain assets, then transfer them to public ownership at the conclusion of a 25-35 year period. The PIP Fund does not intend to deliver social services such as education or healthcare, rather it will provide infrastructure and facilities for Government agencies to use in the provision of these services.
The PIP Fund will draw on the Morrison & Co investment team's extensive experience in deal structuring, investment analysis and corporate finance, along with sector-specific expertise in construction management, transport infrastructure and utilities. The PIP Fund's Investment Committee includes Morrison & Co's CEO (Marko Bogoievski) and Chief Investment Officer (Lib Petagna).
The Morrison & Co PIP Fund has initial investment capacity of around $500m of equity and debt.
Morrison & Co will be inviting selected investors with compatible long-term investment horizons to participate in the PIP Fund.
News
16 August 2010
The Morrison & Co PIP Fund announces Melbourne Convention Centre Investment
14 April 2010
15 March 2010
Morrison & Co and Craigs Investment Partners launch fund to invest in Social Infrastructure PPPs
2 November 2009
Morrison & Co appoints Craigs Investment Partners to advise on retail social infrastructure fund
Team
Peter Coman
Peter is Managing Director of the Public Infrastructure Partnership Fund and Chief Executive of the Morrison & Co Property Group. Prior to joining Morrison & Co in 2008, he was Managing Director of Jones Lang LaSalle, New Zealand. Previous to this he worked in the UK for Prudential Real Estate Investors as a Director of their European private equity real estate fund, and for Lend Lease Property Capital as an Associate in their real estate private equity business
Steven Proctor - Executive Director PIP Fund
Steven has been working in the public-private partnership sector since 1995. Prior to joining Morrison & Co in 2010, he was a Principal in the Private Equity department of Henderson Global Investors in the UK. Within the PPP sector he has worked as Sponsor (purchasing and bidding infrastructure projects) Lead Arranging banker (lending into several UK project finance transactions) and as a Financial Advisor (advising both project developers and various governments).
Paul Newfield
Paul works on the development of new mandates for Morrison & Co along with the assessment, execution and management of portfolio investments. He is an Investment Director of the Morrison & Co Public Infrastructure Partnership Fund. Prior to joining Morrison & Co he was a Principal at The Boston Consulting Group.
Martin Cox
Martin works on the development and analysis of new investment opportunities within Morrison & Co and portfolio businesses. He is also an investment manager for the Morrison & Co Public Infrastructure Partnerships Fund. Prior to joining Morrison & Co, Martin was a consultant with McKinsey & Company and has performed strategy roles at Telecom NZ.