PGGM is increasing its commitment to BAM PPP PGGM Infrastructure by €100m (£80m). This brings the total committed funding to €425m of which €286m has already been invested in existing projects and allocated to new projects.
This increase is a result of the JV’s success in achieving the expectations of both partners in terms of the completion of project transfers from BAM PPP’s portfolio, new projects won since the joint venture’s inception in 2011 and pipeline of opportunities going forward.
The objective of the joint venture remains to provide a long-term partnership to invest in the developing social and transport PPP markets in the Netherlands, Belgium, the United Kingdom, Ireland, Germany and Switzerland.
BAM PPP retains full responsibility for bid management for new projects and the provision of asset management services to the joint venture and will represent the joint venture in its transactions. PGGM is a supportive investor generally providing 80% of the required capital for projects. The board of the joint venture is formed on an equal basis between the parties.