Royal BAM Group and Dutch pension fund administrator PGGM have increased their commitment in BAM PPP PGGM Infrastructure Coöperatie U.A. by €140 million.
This brings the PGGM committed funding to €620 million and the total joint venture committed funding to €775 million. Of this amount, €489 million has been invested and allocated to nearly 30 projects to date. In the Netherlands, the joint venture has invested in seven public-private partnership projects.
There remains a positive pipeline of P3 project opportunities going forward, and the objective of the joint venture remains to provide a long-term partnership to invest in the developing social and transport P3 markets in Belgium, Germany, Ireland, the Netherlands, Switzerland and the United Kingdom.
BAM PPP retains full responsibility for bid management for new projects and the provision of asset management services to the joint venture, and will represent the joint venture in its transactions. PGGM is a supportive investor generally providing 80 percent of the required capital for projects. The board of the joint venture is formed on an equal basis between the parties.