Global Infrastructure Partners (GIP) has closed on a €450 million ($479 million) secured notes investment in a holding company of Superstrada Pedemontana Veneta, a 96-kilometer (60-mile) greenfield toll road project in Italy.
Pedemontana, which is owned and operated by SACYR and Fininc — two major owners and operators of European infrastructure assets — is in the final stages of construction in the Veneto region of Italy. The project is underpinned by availability payments from the investment grade-rated Veneto regional government and has attracted attention from the Italian government as a highly strategic infrastructure investment critical to supporting economic growth.
GIP is making the investment through its GIP Spectrum Fund along with affiliates and co-investors. This is the fifth commitment made by GIP Spectrum and is GIP Credit's inaugural European investment.
The GIP Spectrum strategy provides customized capital solutions for infrastructure projec
