Mark Burgess Appointed To NT Infrastructure Development Fund Board

Mark Burgess Appointed To NT Infrastructure Development Fund Board

Northern Territory Treasurer David Tollner

Government Welcomes New Member To NT Infrastructure Development Fund Board

Victor P Taffa

The Northern Territory Government has welcomed the announcement of Mark Burgess as the fifth and final member to the Board of the Northern Territory (NT) Infrastructure Development Fund.

Treasurer David Tollner said Mark Burgess brings a wealth of valuable experience in infrastructure investment to the NTIDF Board.

“Mr. Burgess has an accomplished career in infrastructure development and was formerly the managing director of the Future Fund Management agency.” Treasurer Tollner said.

“His knowledge and experience in investing in local and global infrastructure assets will benefit future development plans in the Northern Territory and ensure the NTIDF achieves its aim of generating future revenue for the NT.”

“I am extremely pleased to join such an important and positive initiative for the Northern Territory.” Mr. Burgess said.

“The development of a world class infrastructure fund of the highest quality that will support growth in the NT at an important time is an exciting prospect and I look forward to joining the Board.”

“This is a unique and leading investment opportunity to build a long-term diversified portfolio of infrastructure investments which will benefit the long term development of the Territory.”

The NTIDF Board consists of:

  • Les Fallick – chairman of the Board
  • Bill Moss – former head of Macquarie Bank’s real estate and banking divisions
  • James Paspaley – executive director of Paspaley Pearls
  • Jodie Ryan – Under-Treasurer of the Northern Territory Government.
  • Mark Burgess – former Managing Director of Future Fund

“The NTIDF is now fully operational and aims to attract up to $1.5 billion of investment, including external investment from Australian governments, Australian superannuation funds, and other Australian and international institutional investors.” NTIDF Chairman Les Fallick said.

“The key objective of the NTIDF is to be a long-term investor in a diversified portfolio of infrastructure assets.”

The NTIDF will:

  • Generate attractive risk-adjusted returns for all investors;
  • Support the long term economic growth and development of the Northern Territory by investing in appropriate infrastructure projects.

“By attracting external investment, the NTIDF will seek to leverage the Territory Government’s initial investment of $300 Million into a total pool of capital of $1.5 billion, which should generate at least $4.5 Billion in infrastructure investment.” Treasurer Tollner said.

In April, Infrastructure Capital Group (ICG) was selected as the investment manager for the NTIDF.

ICG is an independent Australian infrastructure funds management firm with over 15 years experience and a track record of investment in successful and effective infrastructure projects.

ICG are now responsible for all aspects of the investment process including identifying and delivering a range of infrastructure projects which will deliver a commercial rate of return to the fund’s investors.

The NTIDF will invest directly in a diversified portfolio of infrastructure assets that may include:

  • Greenfield developments (new projects)
  • Brownfield projects (upgrading or expanding pre-existing facilities) as well as other infrastructure-related investments

The fund will seek to invest primarily in Northern Territory related infrastructure assets, however under appropriate circumstances some funds may be invested outside the Northern Territory, such as linking projects with other States.

The NTIDF is the first of its kind in Australia and will support the development of infrastructure using the proceeds of the sale of TIO and the long term lease of the Port of Darwin.

“The NTIDF is a down-payment on the Territory’s future growth an investment that will deliver jobs and prosperity for years to come.” Treasurer Tollner said.

“This major initiative is part of the Country Liberals Government’s plan to continue to diversify and support the NT economy following Labor’s massive debt legacy.”