Vancouver, BC, Canada – Concert is pleased to announce that it has completed the initial $105 million dollar capitalization of Concert Infrastructure Fund. Focusing on municipal and provincial social infrastructure projects across Canada, the fund is managed by Concert Infrastructure and owned by 10 union and management pension funds. Concert Infrastructure will work closely with Concert Properties and benefit from its 21 years of award-winning development and construction experience.
“We believe the Canadian infrastructure and P3 (public private partnership) market offers Concert and its shareholders an exceptional long-term investment opportunity.” says Concert Chair and CEO, David Podmore. “We are very excited with the expansion of Concert into infrastructure and we believe that we will quickly build on the early success Concert has had in this market.”
In 2010 Concert entered into its first two infrastructure investments. The group holds a 50 per cent interests in the Forensic Science and Coroner’s Complex and the Ontario Provincial Police’s Modernization Project; both located in Ontario.