Abu Dhabi, UAE — ADQ, an Abu Dhabi-based investment and holding company, and Plenary Group (Plenary), an independent investor, developer and manager of public-private infrastructure projects headquartered in Australia, Wednesday announced a partnership aimed at expediting the expansion of public and social infrastructure through strategic investments.
ADQ will acquire a 49 percent stake in Plenary, including all shares currently owned by Canadian pension fund Caisse de dépôt et placement du Québec, which will continue to be heavily invested in a range of Plenary’s Australian assets and remains the major shareholder in Plenary’s separate Americas business.
The primary capital contribution by ADQ will be used to accelerate Plenary’s growth ambitions across its key markets in Australia, the Middle East, Asia, the UK and Europe.
As part of the partnership, Plenary and ADQ will also establish a co-investment platform that will focus on public and social infrastructure opportunities in high-growth geographies, including the GCC region, the Middle East, and Central Asia. The partnership will allow ADQ to further bolster its track record in investing in infrastructure assets to accelerate economic development in the UAE and abroad, ADQ said.
Established in 2004, with a portfolio of 21 assets under management valued at over US$25 billion across Australia and the Middle East, Plenary has steadily grown to be recognized as a market-leading investor, developer and manager of public infrastructure, successfully deploying its business model internationally.
Hamad Al Hammadi, Deputy Group Chief Executive Officer of ADQ, said, “This collaboration, marking our inaugural venture in Australia, underscores ADQ’s commitment to developing partnerships that complement our investment strategy, which aims to create long-term value and generate sustainable financial returns. We are confident that our partnership in Plenary will unlock significant opportunities to contribute to developing state-of-the-art infrastructure assets, boosting economic growth and social welfare in the target geographies.
John O’Rourke, Chairman and Founder of Plenary Group, said, “ADQ’s investment in Plenary will help accelerate our growth in Australia and internationally while the co-investment platform will allow us to scale our activities in the Middle East. ADQ has a leading position in the Middle East region and increasingly on a global scale, with an impressive portfolio of infrastructure assets.
