QIC enters contract to acquire Sea Swift

5 September 2019

Sea Swift is pleased to announce that QIC has entered into a contract to acquire 100 per cent of the business after the completion of a sales process and a period of exclusive negotiations with the existing owners.

QIC is one of Australia’s largest institutional investment managers with over $80 billion in assets under management, and has acquired Sea Swift on behalf of its QIC Global Infrastructure Fund comprised of domestic and global superannuation, pension, insurance and sovereign wealth investors.

Sea Swift CEO Fred White said: “We’re pleased to have found a strong long-term focused and socially responsible partner in QIC, which shares our commitment to safety and customer service.

“QIC is one of the largest owners of transportation infrastructure in Australia, and in particular brings extensive experience managing marine transportation assets, including being the equal largest shareholder of the Port of Melbourne and Port of Brisbane.

“The Sea Swift team is looking forward to leveraging QIC’s experience to continue the growth of the business and the service offering to our customers.”

Through the bilateral sale process, QIC undertook extensive due diligence and has advised it has no current plans for any significant changes to the day-to-day operations of the business.

QIC has also confirmed its strong support for Sea Swift’s commitment to the training and development of Sea Swift’s workforce, and to supporting regional development and growth in the remote communities Sea Swift serves through the continued provision of high-quality, reliable services.

Financial close on the transaction is expected to be reached over the next few months.

ABOUT SEA SWIFT

Sea Swift has more than 30 years of experience providing essential services and project freight in Northern Australia with more than 450 staff and 28 vessels, and makes a significant contribution to Aboriginal and Torres Strait Islander communities across the region.

Sea Swift operates throughout the region’s remote coastal and island communities, with depots in Darwin, Gove and Groote Eylandt in the Northern Territory, and Cairns, Weipa, Seisia, Horn Island, Badu Island and Thursday Island in Queensland.

Find out more about Sea Swift and its services at www.seaswift.com.au and www.facebook.com/seaswiftaustralia

ABOUT QIC GLOBAL INFRASTRUCTURE

QIC is a long-term infrastructure investor with an established global platform, an active management approach and a proven, 12-year track record. With a global team of over 40 professionals, QIC Global Infrastructure manages A$12.3 billion across 142 global direct investments and has realised a further A$7.2 billion of investments for its clients. Its sector centric investment strategy deconstructs risk across sector value chains identifying relative value for investment. This drives a targeted origination approach, enabling the firm to build diversified portfolios for its clients, while protecting their capital. Since 2006, this investment strategy has delivered strong total returns for its clients.

ABOUT QIC

QIC is a leading long-term specialist manager in alternatives offering infrastructure, real estate, private capital, liquid strategies and multi-asset investments. It is one of the largest institutional investment managers in Australia, with A$80 billion (US$56 billion) in funds under management1. QIC has over 1,000 employees and serves more than 110 clients. Headquartered in Brisbane, Australia, QIC also has offices in Sydney, Melbourne, New York, Los Angeles, Cleveland, San Francisco, London and Copenhagen. For more information, please visit: www.qic.com.

1As at 30 June 2019.

Includes QIC’s investment in Brussels Airport, which is expected to reach financial close in Q3 2019.