Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and Spirit Super, an Australian industry super fund, today announced the successful completion of their previously announced acquisition of Australia’s GeelongPort Pty Limited. Under the terms of the agreement, Stonepeak, on behalf of its managed funds and accounts, holds a majority 70% interest in the entity and Spirit Super has a 30% stake.
GeelongPort is a diversified landlord port that, in our view, is strategically positioned and critical to Victoria’s economy as the region’s second largest port. Located in Geelong, and situated approximately 75 kilometers southwest of Melbourne, the port manages over A$7 billion of trade and supports more than 1,800 jobs across the state.
It also provides easy access to logistics routes for trade through critical road, rail, air, and channel connections for Geelong and south-west Victoria’s supply chains.
Stonepeak is an alternative investment firm specializing in infrastructure and real assets with approximately $55.7 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. Spirit Super was established in 2021 through the merger of Tasplan and MTAA Super.
Source : portNews