Concert Infrastructure Fund announced the acquisition of a majority interest in Arctic Infrastructure Limited Partnership, the entity responsible for the improvement, operation and maintenance of the Iqaluit International Airport in Nunavut. Concert Infrastructure has acquired the stake from InfraRed Capital Partners Limited.

With this acquisition, Concert Infrastructure assumes responsibility for the project, while Nunavut Airport Services Ltd., a subsidiary of Winnipeg Airport Authority, remains in charge of day-to-day facility and airport operations. The project consortium also includes Bouygues Buildings Canada and Sintra. InfraRed through InfraRed Infrastructure Fund III held 80% of Arctic. The remaining 20% is owned Bouygues Building Canada Inc. (10%), Sintra Inc. (a subsidiary of road construction firm ColasCanada) and Winnipeg Airports Authority (5% each).

The Iqaluit International Airport is a public-private partnership with the Government of Nunavut. The project was initially developed by InfraRed to upgrade a decades-old facility in dire need of repair and was the first complete airport infrastructure project to be built as a P3 in North America.

The original project included the design and construction of a new air terminal building and combined services building, the repaving and expansion of the runway, taxiway and apron, and the enhancement of roadways and lighting systems. The facility opened in December 2017, with the license to manage the facility running until 2047. The project has been a recipient of several awards including the CCPPP National Awards gold award for infrastructure in 2017.