Port BotanyOn May 31st, 2013, NSW Ports, a consortium composed led by Industry Funds Management and including AustralianSuper, Cbus, HESTA, HOSTPLUS and Tawreed Investments Limited, a wholly owned subsidiary of the Abu Dhabi Investment Authority has assumed management of Port Botany in Sydney and Port Kembla in Wollongong today through 99 year lease agreements.The consortium won the leases in a competitive bidding process finalised earlier this year value at A$5.07 billion.Morgan Stanley was the financial adviser to NSW Government. Lazard and UBS advised the winning consortium.According to sources, debt financing is being provided by 10 banks, only two of which are Australian.NSW Ports Managing Director Tim Blood said the company was looking forward to managing these important gateway assets and providing certainty for the users of the ports.

"NSW Ports is committed to the long term sustainable development of the ports for the benefit of our shareholders and the people of New South Wales," Mr Blood said.

Industry Funds Management Chief Executive Brett Himbury said the consortium partners are excited about this significant investment in Australian assets.

"Around 5 million Australians, including more than 1.5 million in New South Wales, will have a long term investment through their superannuation in these vital facilities," Mr Himbury said."It's a terrific outcome that more than 80 per cent of the ownership is by Australian superannuation funds. It is a demonstration of Australians supporting key Australian infrastructure."

Around 50 staff from Sydney Ports Corporation and Port Kembla Ports Corporation have chosen to transfer over to the new company. Remaining staff will stay with Sydney Ports Corporation and Port Kembla Port Corporation to manage operations that are not transferring, including pilot and navigation services.Port Botany and Port Kembla serve as the primary import and export gateways to NSW, Australia's largest economy.Port Botany serves a vital role in the economy of Sydney and NSW as a container and bulk liquids facility. Port Kembla, located in Wollongong, is a key export facility for coal, grain and other bulk products and is the country's largest vehicle import facility.The lease agreements include the two ports and the Enfield and Cooks River logistics sites.Source: IFM