Transactions - AUGUST 10, 2017

DIF acquires 25% stake in a major jet fuel pipeline

by Jody Barhanovich

DIF, an independent and specialist fund management company, has announced it has acquired a 25 percent interest in the Somerton Pipeline through its fund, DIF Core Infrastructure Fund I.

The Somerton Pipeline is a 34-kilometer jet fuel pipeline that supplies fuel to Melbourne’s Tullamarine International Airport. It is a vital part of the jet fuel supply chain at Australia’s second-busiest airport and supplies the majority of the total fuel demand at the airport.

“DIF is delighted to add the Somerton Pipeline to its existing investment portfolio. We are excited to be a shareholder of a critical piece of the supply chain infrastructure supporting the Tullamarine Airport,” said Marko Kremer, DIF’s head of Australasia.

DIF manages funds of approximately €4.2 billion ($4.9 billion) across seven closed-end investment funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies. The majority of DIF’s funds target PPP/PFI/P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australasia.

DIF CIF I targets small to mid-sized infrastructure assets in the telecommunication infrastructure, rail, energy and utility sectors that generate stable and predictable cash flows that are contracted over the mid-term with highly rated entities. The fund targets both greenfield and operational projects in Europe, North America and Australasia.

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