InfraRed Capital Partners has sold a 40 percent interest in the Transmission Gully Motorway project, held by an InfraRed-managed value-added fund, to an undisclosed New Zealand infrastructure investor.
Transmission Gully is a 17-mile state motorway in the Wellington region of New Zealand, built to bypass the previous coastal route. InfraRed was one of four equity investors in the Wellington Gateway Partnership (WGP), which delivered the project under an availability-based public-private partnership with the New Zealand Transport Agency.
The WGP was responsible for financing, designing and constructing the motorway as well as its ongoing operations and maintenance. The motorway opened in March 2022.
“Transmission Gully is a highly successful piece of essential infrastructure for the Wellington region, and this sale is testament to our ability to create attractive infrastructure assets for prospective buyers and deliver value for investors,” said Stephane Kofm
