Plenary Group announces acquisition of asset management business
Plenary Group has continued to strengthen its public-private partnership (PPP) asset management capabilities by recently acquiring management services provider InStruct Corporation.
Sydney-based InStruct is contracted to provide management services to two significant projects in the PPP market, the A$700 million (US$541 million) Royal North Shore Hospital and the A$250 million (US$193 million) Wollongong University student accommodation project.
Plenary Group Managing Director Paul Oppenheim said:
"The purchase bolsters Plenary’s already-extensive asset management business that encompasses various sectors including health, education, defence, tourism, justice and transportation."
“This acquisition reinforces Plenary’s commitment to its active asset management model and leverages our strong commercial leadership and skillset”
“As the leading PPP manager in Australia this broadens our footprint in the growing New South Wales market. It is an important step for Plenary’s growing asset management business and complements our infrastructure development expertise.”
The acquisition came into effect earlier this year, and what was InStruct’s asset management team continues to provide project delivery and asset management services.
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