Key Takeaways
- Sector: Transport Infrastructure & Services (traditional).
- Geography: New Zealand.
Analysis
InfraRed Capital Partners has completed the sale of a 40% interest in the Transmission Gully Motorway project in New Zealand. The stake was held in an InfraRed-managed value-add fund and sold to an undisclosed New Zealand infrastructure investor, allowing InfraRed to realize value created through construction for its investors.
The Transmission Gully motorway is a 17-mile state highway in the Wellington region, built to provide a safer and more reliable inland route. InfraRed was one of four equity investors in the Wellington Gateway Partnership (WGP)—a consortium delivering the motorway under an availability-based PPP with the New Zealand Transport Agency. InfraRed committed approximately NZ$55 million (roughly 40% of equity) and played an active role in financing, designing, constructing, operating, and maintaining the motorway, which opened to the public in March 2022.
Stephane Kofman, Head of Value‑add Funds at InfraRed, commented that the motorway is “a highly successful piece of essential infrastructure,” and the sale underscores InfraRed’s ability to create and monetize attractive infrastructure assets.
InfraRed, part of SLC Management and now managing over US $13 billion of equity capital in both core and value-add strategies, operates globally from offices in London, Madrid, New York, Sydney and Seoul with a team of more than 160 professionals.
Recent deals by InfraRed include:
- In November 2023, the sale of Statera Energy to EQT Infrastructure—its second full exit from Infrastructure Fund V.
- InfraRed closed Infrastructure Fund VI (~$1 billion) in late 2024, deploying nearly 80% into mid‑market transport, digital and energy platforms.
- In 2022, through HICL Infrastructure, InfraRed acquired a 45.75% stake in Texas Nevada Transmission, further expanding its energy infrastructure footprint.