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15 October 2015 Auckland Prison PPP Financial Close

Public Infrastructure Partners reached Financial Close on the Auckland Prison PPP on 15 September 2015.

The Department of Corrections announced in September that financial close was reached with a Public Infrastructure Partners (PIP) Fund consortium. Next Step Partners (NSP) was the successful PPP bidder to design, build, finance and maintain a new Auckland Prison facility, and maintain the existing facility.

The NSP consortium comprises the PIP Fund, Fletcher Construction (Building and Interiors), Cushman and Wakefield (formerly DTZ) and Westpac. Fletcher is undertaking the design and construction of the new facility, Cushman and Wakefield will be responsible for the Asset Management and Facilities Maintenance and Westpac are debt providers.

Please read the shareholder announcement.

Please read the Investment Summary.

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