Australian firm AMP Capital, on behalf of its investors in Community Infrastructure Fund (CommIF), has acquired a 50% stake in the Westadium consortium from John Liang.

Financial details of the acquisition remain undisclosed.

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The Westadium consortium co-financed, designed and built the Perth-based Optus Stadium under a 25-year concession with the Western Australian Government.

The consortium also includes Aberdeen Standard Investments and Brookfield subsidiaries.

With 60,000 seats, the modernised, multi-purpose stadium hosts various entertainment and sporting events, including rugby union, rugby league, cricket, AFL, soccer and concerts.

“With the interest acquired in Westadium, CommIF’s portfolio increases to 14 social infrastructure assets.”

The stadium opened in January 2018 and has since hosted more than two million people.

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Other features include two 340m² video screens and the ability to adapt to a rectangular field setup with a 12h turnaround.

CommIf fund manager Charles Savage said: “CommIF is delighted to have secured an interest in Optus Stadium for our clients. We are proud to invest in a social infrastructure project that supports sporting and community events, and brings strong financial benefits to its local economy.”

“With the interest acquired in Westadium, CommIF’s portfolio increases to 14 social infrastructure assets.

“CommIF holds a strong track record in the market and is recognised as a leading investor and manager of social infrastructure assets. Our clients value the secure and predictable revenue streams that social infrastructure projects offer.”

Clayton Utz, Deloitte, Aon and MBM advised AMP Capital in relation to the transaction that reached a financial closure this month.

With the addition of Westadium, the total CommIF assets under management reached A$3.7bn ($2.61 bn), with more than A$830m ($586.1m) in equity invested.