3i investments in National Military Museum PPP

12th Nov 2013 10:22

Infrastructure group 3i has unveiled plans to invest 6.3m euro in an 80 per cent stake in the National Military Museum public-private partnership (PPP) project in the Netherlands. The project, which is set to complete in September 2014, was procured under a typical PPP framework by the Dutch Ministry of Defence and comprises the design, build, finance and maintenance of a museum facility on the site of the former Soesterberg Airbase. 3i's Chairman, Peter Sedgwich, said the move into continental Europe diversifies the group's portfolio. The investment is part of the company's strategy of increasing its exposure to the primary PPP market. It has so far invested €3.25m, with the remainder expected to be invested at completion of construction.Cressida Hogg, Managing Partner at 3i Investments, added: "This is the first of the investments sourced for 3i Infrastructure from the Investment Adviser's enhanced origination platform. We expect that 3i Group's acquisition of BIFM will bring further investment opportunities for the company".NR