25 August 2009

ANZIS Sale Completed to Consortium of Clarke, Fitzpatrick & Fallick

+ Renamed Infrastructure Capital Group.
+ Renewed focus on strong origination and investor value.

Infrastructure Capital Group (ICG), a consortium of John Clarke (45%), interests associated with Mike Fitzpatrick (45%), and Les Fallick (10%), today announced that it has completed the acquisition of ANZ Infrastructure Services (ANZIS) following ANZ’s decision to exit alternative asset businesses.

Previously, ANZIS had been owned by ANZ (80%) and ANZIS Managing Director John Clarke (20%) and had developed its specialist advisory and investment business across all sectors of energy, infrastructure and utilities markets. ANZIS funds under management exceed $1 billion and include the Energy Infrastructure Trust and the Diversified Infrastructure Trust.

ICG Managing Director John Clarke said: ‘We have renamed the business Infrastructure Capital Group (ICG) establishing ourselves as an independent, specialist funds management company which provides wholesale investors with team continuity, strong origination capabilities, detailed knowledge of the portfolio assets and a strong investor value focus.’

‘The new ownership also provides ICG with additional infrastructure market experience and credibility and strong financial commitment to the success of the funds,’ Mr Clarke said.

Mike Fitzpatrick will be Chairman of ICG with John Clarke remaining Managing Director.

Mike Fitzpatrick said, ‘I have been impressed with the past development of the ANZIS business, in particular in generation and green energy. I am now delighted to be a partner in ICG and have the opportunity to assist ICG’s continued outstanding performance and growth, based on excellent transaction and operational skills and strong relationships with wholesale investors’.

Background
ANZ created ANZ Infrastructure Services in Dec 2000 as a 50/50 joint venture with Morrison & Co Australia a specialist infrastructure business that was part-owned by Mr Clarke after the opportunity was bought to ANZ by John Clarke, then Managing Director of Morrison and Co Australian. The joint venture was governed by a shareholders’ agreement.

In 2001, ANZ acquired a further 30% of ANZIS from Morrison & Co and since then ANZ Infrastructure Services has been 80% owned by ANZ, with John Clarke holding a 20% equity stake. As part of this commercial arrangement, John Clarke held an option to put his equity shareholding to ANZ from April 2009.

Over the last eight years, ANZ Infrastructure Services has built a strong position in the infrastructure market and has gained investor support from pension funds and institutions by providing superior risk adjusted rates of returns over a number of years for the infrastructure funds that it manages.

Infrastructure Capital Group will continue to originate projects that provide superior risk adjusted rates of return for wholesale investors.