Bunnik / Zeist, the Netherlands, Royal BAM Group and Dutch pension fund service provider PGGM have reached conditional agreement on the key terms for the extension of the current partnership between PGGM Infrastructure Fund and BAM PPP.
Transaction between PGGM and BAM successfully completed
PGGM Infrastructure Fund has acquired a 50% interest in BAM PPP, one of Europe's leading developers and managers of PPP concessions.
This transaction builds on the success of BAM PPP PGGM Infrastructure Coöperatie U.A., the joint venture formed between BAM PPP and PGGM Infrastructure Fund in 2011.
The extended partnership is expected to generate significant potential to accelerate growth in existing European and new global markets by providing BAM PPP with a broader remit and greater flexibility to expand its portfolio. At the same time, BAM PPP will be continuing to provide first-class services for its clients along the entire lifetime of the concession.
From 1 January 2021 BAM PPP will operate as a joint venture between Royal BAM Group and PGGM Infrastructure Fund.
PGGM is a cooperative Dutch pension fund service provider. Institutional clients are offered: asset management, pension fund management, policy advice and management support. On June 30, 2020 PGGM had EUR 246 billion in assets under management and was administrating pensions of 4.4 million participants. Around 750,000 workers in the Dutch healthcare are connected to PGGM&CO, our members organization. Either alone or together with strategic partners, PGGM develops future solutions by linking together pension, care, housing and work. www.pggm.nl
About BAM PPP
Formed in 2005, BAM PPP is currently responsible for Royal BAM Group’s involvement in public private partnership (PPP) projects. BAM PPP operates in five key European markets (Netherlands, Belgium, UK, Ireland and Germany) and in selected International markets, in addition to exploring broader project finance investment opportunities. BAM PPP’s sector expertise includes roads, rail, education, health, justice, marine and general accommodation. BAM PPP has reached financial close on 49 projects, with a total capital value of over €12.1 billion. www.bamppp.com
Dutch pension fund administrator PGGM and Royal BAM Group are discussing the extension of the current partnership between PGGM and BAM PPP.
Royal BAM Group and Dutch pension fund administrator PGGM announce an increased commitment to their joint venture.
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