TORONTO, April 22 /CNW/ - Connor Clark & Lunn GVest Traditional Infrastructure LP announced today its investment in a public-private partnership (P3) initiative with a net present value of $253 million to build 10 new schools in Edmonton and the Calgary region of Alberta.
Under the terms of an agreement with the Government of Alberta, B2L Partnership (Build II Learn) will design, build, finance and maintain the new schools for a 30-year term. CC&L GVest Traditional Infrastructure LP is an equity partner in the B2L consortium, which includes Graham Design Build Services and Bird Construction as builders and Honeywell as the maintenance & renewal provider.
"We are delighted that our consortium was selected to deliver the Alberta schools project," says Matt O'Brien, President of Connor Clark & Lunn Infrastructure. "Our participation in this project is an affirmation of our strategy to invest in high quality civil and social infrastructure concessions that generate predictable, long-duration cash flow streams".
Launched in April 2009 by Connor Clark & Lunn Infrastructure and Gracorp Capital, an affiliate of the Graham Group, CC&L GVest Traditional Infrastructure LP was created to enable individual and small institutional investors to invest directly in infrastructure projects.
"The direct investment in the construction and operation of infrastructure assets has historically been the domain of large pension plans and corporations," says Tim Heavenor, President of Gracorp Capital Advisors, the infrastructure investment entity of Graham, one of Canada's largest construction companies. "CC&L GVest Traditional Infrastructure LP is unique in that it provides individual investors with direct exposure to high quality, long-life infrastructure projects like the 30-year Alberta schools concession that we've been awarded by the Province of Alberta."
Civil and social infrastructure assets produce stable cash flow (yield) over long periods of time - often in excess of 20 years. Backed by long term contracts with the government, their payment streams do not vary with economic cycles or equity market returns - providing diversification, stability and, in some cases, a partial hedge against inflation.
About Connor, Clark & Lunn Infrastructure
Connor, Clark & Lunn Infrastructure invests in North American infrastructure companies and projects that have long lives, highly attractive risk-return characteristics and the potential to generate stable cash flow. CC&L Infrastructure is part of the Connor, Clark & Lunn Financial Group, a multi-boutique asset management company whose affiliate investment managers are responsible for the investment of approximately $35.5 billion on behalf of institutional, private and retail investors.
About Gracorp Capital Advisors
Gracorp Capital Advisors is a specialized infrastructure developer, investment and asset manager formed from the personal investments of the employees of Graham Group. As one of Canada's top five construction firms and top 50 best-managed private companies, Graham is recognized as an industry-leading general contractor with broad expertise in infrastructure, ranging from bridges and roads, to water and sewage treatment plants, to schools and hospitals. Founded in 1926, Graham operates from 14 locations across Canada and the United States. Graham employees are investors in the CC&L GVest Traditional Infrastructure LP.
SOURCE Connor, Clark & Lunn Infrastructure
For further information: For further information: Matt O'Brien, President, CC&L Infrastructure, (416) 360-7682, firstname.lastname@example.org; Tim Heavenor, President, Gracorp Capital Advisors, (403) 570-5008, email@example.com