TIKEHAU STAR INFRA CONSORTIUM SELECTED TO REDEVELOP THE CYRIL E. KING AIRPORT AND HENRY E. ROHLSEN AIRPORT IN THE U.S. VIRGIN ISLANDS
March 28, 2024 (New York, NY) – Tikehau Star Infra (formerly known as Star America), a subsidiary of Tikehau Capital, a global alternative asset management group, announces that VIports Partners (“VIports”), a consortium led by Tikehau Star Infra and its partner Aecon Group Inc. (“Aecon”), has been selected by the U.S. Virgin Islands Port Authority (“VIPA”) to redevelop the Cyril E. King Airport in St. Thomas and the Henry E. Rohlsen Airport in St. Croix under a collaborative Design, Build, Finance, Operate and Maintain (“DBFOM”) Public-Private Partnership model.
VIports is comprised of Tikehau Star Infra, Aecon, Consigli Benton Joint Venture (J. Benton Construction) and Avports. Tikehau Star Infra will hold a 50% equity interest in the 40-year concession with Aecon Concessions also holding 50% of the equity. Aecon and a local partner J. Benton Construction will each have a 50% interest in the design-build joint venture. Avports will serve as the operations and maintenance partner.
Under a transition phase agreement, VIports and VIPA will negotiate and finalize various elements of the project over a nine-month period. Upon successful completion of the transition phase, financial close is expected in the first quarter of 2025.
“We are excited to partner with VIPA on this landmark project” said Christophe Petit, President of Tikehau Star Infra. “Public-private partnerships are core to our mission and we look forward to contributing positively to the development of the U.S. Virgin Islands.”
Further information about the project is available on the VIPA project website.
FOR INQUIRIES:
Christophe Petit
Co-Founder & President
Tikehau Star Infra
Tel: +1 516 882 4100
cpetit@tikehaucapital.com
ABOUT TIKEHAU STAR INFRA
Tikehau Star Infra, a subsidiary of Tikehau Capital, a global alternative asset management group, is a U.S. headquartered developer and manager of infrastructure assets in North America.
With an investor base that includes large institutional investors such as insurance companies and pension funds, Tikehau Star Infra has access to hundreds of millions in capital.
Our focus is primarily delivering infrastructure projects across the transportation, social, environmental and telecommunications sectors. With investments in projects which have a total asset value of more than $10 billion (as of December 31, 2023), Tikehau Star Infra is one of the leading infrastructure developers in the U.S.
Leveraging decades of collective experience in design, construction and finance, our team is well positioned to strive to achieve strong results for our clients, partners and investors.
Disclaimer
This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed.
Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relates to Tikehau Capital North America.
