Allianz has acquired a 56 percent shareholding in the Colchester Garrison Private Finance Initiative (PFI) project from two of InfraRed Capital Partner’s managed funds, HICL Infrastructure Company and InfraRed Infrastructure Yield Fund. PFI is a programme by the UK government to modernize public infrastructure with private capital.

Allianz Capital Partners
London, Feb 02, 2015

This project is a 35 year concession to design, build, finance and operate a new Garrison facility at Colchester, Essex for the UK Ministry of Defence. The project reached financial close in February 2004 and construction was completed in April 2008. Today Colchester Garrison provides fully serviced accommodation, training, education and welfare facilities for the 3,500 military and 700 civilian personnel who live and work at the Garrison. The investment was made into RMPA Holdings Limited which holds the concession of Colchester Garrison.

Allianz is investing in the project alongside the UK’s Pensions Infrastructure Platform (PIP) PPP Equity Fund, which is managed by Dalmore Capital and which will increase its shareholding in the project from 17 percent to 30 percent. The acquisition of the combined 69 percent shareholding will be for a total consideration of GBP 139 million.

"We are very pleased to be investing in the Colchester Garrison PFI project alongside a like-minded, long-term partner such as Dalmore Capital and PIP. We understand the importance of the Garrison to the Ministry of Defence and we will continue to ensure operational excellence and customer satisfaction", said Christian Fingerle, Chief Investment Officer responsible for infrastructure investments at Allianz Capital Partners. "The stable and long-term nature of this project fits well to the investment strategy of Allianz and provides further diversification to our existing infrastructure portfolio."

Dennis Kelly, CEO of RMPA Holdings Limited commented the transaction: "RMPA is delighted to welcome Allianz as the major shareholder in the Colchester Garrison PFI. We are proud of the success of the project and the relationship we have with the MOD; we look forward to working with Allianz and welcome their commitment to build on that relationship."

Forward Looking Statement disclaimer

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer:

Press contact

More at allianz.com

Allianz Group reported strong results for the full year 2017 due largely to higher performance in Asset Management and Life and Health. Total revenues for the Group rose 3.0 percent to 126.1 billion euros for the year, driven by improvements in all business segments. Operating profit edged 0.4 percent higher to 11.1 billion euros in 2017, squarely in the upper half of the Group’s announced target range of 10.3 to 11.3 billion euros.

Under our 'Encouraging Future Generations' program, 10 social startups have been shortlisted to receive mentoring as well as an opportunity to win a grant to scale up their business. Who are they and how are they making a difference to society?

When it comes to road safety, in-car technology is proving to be more dangerous than alcohol in many countries as it distracts drivers from keeping a careful eye on the road, finds a study by Allianz Center for Technology (AZT)...