ADQ, an Abu Dhabi-based investment holding company, and Plenary Group, an independent Australian infrastructure investment, development and management company, have announced a partnership agreement to accelerate the development of public and social infrastructure through strategic investments.
Under the agreement, ADQ will acquire a 49 per cent stake in Belinary, including all shares currently held by the Canadian pension fund Caisse de Dépôt et Employment du Québec (CDPQ), which will continue to invest in a range of Belinary Group’s Australian assets and remain the major shareholder in the Group’s business in the Americas region.
ADQ’s investment contribution will support the Bellinari Group’s ambitions and growth in its key markets of Australia, the Middle East, Asia, the UK and Europe.
Through this partnership, the two parties intend to create a joint investment platform focused on investment opportunities in public and social infrastructure in high-growth geographies, such as the GCC, the Middle East and Central Asia. The partnership will also enable ADQ to build on its track record of investing in infrastructure assets, contributing to accelerating economic development in the UAE and beyond.
Commenting on the partnership, Hamad Abdulla Al Hammadi, Deputy CEO of ADQ, said: “This partnership marks the beginning of our operations in Australia and reflects ADQ’s commitment to forging partnerships that enhance our investment strategy, which aims to create long-term value and provide sustainable financial returns. We are confident that our partnership with Bellinary will provide us with many rewarding opportunities that will contribute to the development of new infrastructure projects that enhance economic growth and social welfare in the targeted areas.”
He added: “Our existing portfolio of infrastructure assets will help us capitalize on the promising potential of public-private partnership projects in collaboration with Belinary, which has a proven track record of developing successful infrastructure projects around the world.”
John O’Rourke, Founder and Chairman of Belinary Group, said: “ADQ’s investment in Belinary will accelerate our growth in Australia and around the world, and strengthen our presence in the Middle East. ADQ is a leading player in the region and internationally, with a strong portfolio of infrastructure assets, and is committed to supporting the development and operation of public infrastructure. We are confident that our extensive experience, complemented by ADQ’s capabilities and investment potential, will help us capitalize on new opportunities and strengthen our position in promising markets.”
ADQ’s growing portfolio of infrastructure assets includes key economic sectors such as transportation and logistics, energy and utilities, and real estate.
Founded in 2004, the Belinary Group has a global portfolio of 81 assets under management worth over $51 billion across Australia, North America and the Middle East. The group has grown steadily as a leading public infrastructure investment, development and management company, with a successful and globally applicable business model.
The group has also witnessed strong momentum in the Middle East since the start of its operations in the region in 2022, as it won a contract to establish the first 3 advanced school complexes in the UAE according to the public-private partnership model, which will be built in Zayed City in the Emirate of Abu Dhabi. The contract includes financing, design, procurement, construction, outsourcing, supervision of operations and maintenance for a period of 20 years.
The completion of the transaction is subject to a number of conditions, administrative procedures and necessary regulatory approvals.
