CVC DIF, the infrastructure strategy of global private markets manager CVC, has agreed to sell its 25 percent interest in Somerton Pipeline to Channel Infrastructure NZ.
Somerton Pipeline is an essential part of the sole pipeline system delivering jet fuel to Melbourne Airport, Australia’s second-busiest airport. ExxonMobil operates the pipeline on behalf of the Somerton Pipeline Joint Venture.
CVC DIF, via its CIF I fund, acquired a 25 percent interest in the Somerton Pipeline in 2017. During CVC DIF’s ownership period, Somerton has operated within the aviation fuel supply chain reliably and delivered resilient cash flows.
Andrew Freeman, partner and head of divestments at CVC DIF, said, “The Somerton Pipeline exit showcases CVC DIF’s ability to deliver value from smaller investments while securing the right long-term owner. This critical asset supports Melbourne Airport’s jet fuel supply, and we’re proud to have ensured its safe, efficient operatio
