- Acquisition takes the funds total interest in the hospital to 27.21%
- The hospital underwent a $2.2 billion refinancing last week
- The largest sustainability loan in the healthcare sector globally
An additional stake in the Royal Adelaide Hospital has been acquired by AMP Capital as part of its Community Infrastructure Fund (CommIF).
The news comes the week after a significant refinancing of the hospital was announced.
The acquisition takes the funds total interest in the hospital to 27.21%.
The 800-bed facility combines clinical services with extensive training and research facilities. Day-to-day it is operated by SA Health but delivered through a public-private partnership.
“We are delighted to increase our stake in this landmark facility,” said CommIF Portfolio Manager, Charles Savage.
“The hospital is the state’s centre for major emergencies and management of the ongoing global pandemic, providing an essential service to its community. It is a great fit for the CommIF portfolio.
Charles Savage, COmmIF Portfolio Manager
“CommIF investments have helped develop and support critical health infrastructure across Australia including the Royal North Shore Hospital and Victorian Comprehensive Cancer Centre while delivering robust returns for investors.
“We are extremely proud of our ability to partner with all stakeholders to deliver high-quality health infrastructure to the community while serving the needs of our investors.”
The announcement follows the hospital’s successful $2.2 billion refinancing last week – the largest sustainability loan in the healthcare sector globally and the largest project finance green and sustainable loan in Australia.
Governments, organisations and companies issue sustainability loans to exclusively finance environmental and climate projects along with those that offer strong social benefits.
Minter Ellison and PwC advised AMP Capital on the additional stake.
“The acquisition continues CommIF’s successful strategy of acquiring interests in high-quality assets and follows the Royal Adelaide Hospital PPP’s successful $2.2 billion refinancing last week,” added AMP Capital Managing Director – Origination, Scott Markwick.