Q Port Holdings (QPH) completed the A$2.1B acquisition of Port of Brisbane Pty Ltd (PoBPL), which holds a 99-year lease on the port, on 30 November. Majority ownership of QPH is through Australian superannuation funds managed by International Funds Management and the Queensland Investment Corporation, but the consortium is led by Global Infrastructure Partners, of which Baillie is executive chairman of subsidiary International Port Holdings (IPH).

“QPH consortium members have a strong track record of effective and responsible stewardship of important infrastructure assets in Australia such as the Brisbane Airport, the Westlink M7 toll road in Sydney and Southern Cross Station in Melbourne,” Baillie said in a note to stakeholders. “Internationally, members of the consortium own and manage infrastructure assets across various industry sub-sectors, including ports.

“Our consortium brings substantial industry and operating expertise and financial capacity to ensure that the Port of Brisbane continues to play a pivotal role in the Queensland economy. We have a long-term perspective and a robust financial structure benefitting from the financial strength of the consortium members.

“Our focus will be to continue to provide world class port facilities that support trade flows for port users in a safe and environmentally responsible manner. Our objective is to maintain strong relationships with all stakeholders including customers, employees, governmental bodies and the local community,” Baillie said.

Jerry Maycock, current chairman of AGL Energy and previously managing director of CSR Ltd, Hastie Group and Holcim’s Queensland Cement has been appointed chairman of PoBPL.

The arrival of QPH saw the immediate departure of Brisbane CEO Jeff Coleman.