SYDNEY, Australia, September 02, 2021 (GLOBE NEWSWIRE) – Arowana’s the private credit investment arm has entered into an agreement with ICAM Duxton STC Holdings Pty Ltd (“ICAM” or “the borrower”) regarding the early settlement of its secured infrastructure debt facility for the port of Lucky Bay in South Australia. This enabled the co-investors with Arowana to achieve a return above the target IRR of 15%.
Lucky Bay provides another grain supply channel to grain farmers and other commodity suppliers to the Eyre Peninsula in South Australia. It is managed by ICAM Duxton Port Infrastructure Trust (IDPIT) with ICAM as fund manager and T-Ports as operator, specializing in innovative logistics solutions for the export of Australian raw materials. T-Ports was established by IDPIT in 2018 to initiate construction and project management of the development of the Lucky Bay port facility, with ICAM guaranteeing private debt and equity. The Port of Lucky Bay generates road freight savings for Eyre Peninsula grain producers of up to $ 15 per tonne and 4,600 tonnes of CO2 emissions savings per year.
Kevin Chin, Founder and CEO of Arowana, commented, “We are delighted to have had the opportunity to provide financial support for the development and growth of a pioneering and innovative port infrastructure project in Lucky Bay, South Australia. During the process, we were very impressed with how the management teams at ICAM and T-Ports relentlessly overcame the challenges posed by unexpected weather conditions and the COVID-19 pandemic in particular. As a B Corp and as seasoned operators who understand business challenges, we were happy to be a responsible and reasonable lending partner during difficult times. We would like to congratulate them on the successful closing of their recent fundraising and we wish them all the best in the future. “
ICAM Executive Director Freddy Bartlett said: “Our team has shared a close working and commercial relationship with the Arowana team to bring this entirely new port infrastructure project to fruition. This combined group worked together to overcome the hurdles of a new infrastructure startup entity and the recent challenges posed by COVID. We are extremely grateful for Arowana’s continued support to help bring this South Australian port to its ultimate growth potential. “
“This transaction highlights the mutual success that can be achieved through close collaboration, open communication and a deep understanding of the operational and financial conditions and constraints of the transaction that serve as a melting pot for innovation in response to the inevitable challenges facing no investment is immune. . It was a pleasure to work with the management teams of ICAM and T Ports ”, declared Johann Kenny, Senior Director at Arowana who oversaw the investment and led the early settlement negotiations.
Arowana is a certified global B Corp group with a number of operating and investment companies including electric vehicles, renewable energy, vocational and vocational education, technology and software, venture capital and the management of impact assets. Arowana’s goal is to grow people, businesses and value.
ICAM is an alternative investment fund manager specializing in sourcing, structuring and active off-market management of real estate and infrastructure assets.
ICAM has an institutional grade investment team bringing a strong investment philosophy, a risk-adjusted and trade-focused investment process, a proven strategy and an attractive history. ICAM specializes in the investment and management of real estate assets in sectors such as commercial offices, strategic retailing, mixed-use development, retirement homes and port infrastructure investments.