MM Capital Partners

PORTFOLIO Royal Adelaide Hospital Project (Australia)



Asset Overview

Company Name Celsus Holding Pty Limited
Location Adelaide , State of South Australia, Australia
Shareholders InfraRed Capital Partners 30.58%
AMP Capital 42.21%
Aberdeen Standard Investments 17.26%
MM Capital Partners 9.95%
Assets Royal Adelaide Hospital  ※equipped with approximately 800 hospital beds
Grantor SA Health, Government of South Australia
Revenue Availability Payment




  • Royal Adelaide Hospital (“the RAH”) project is Public Private Partnership (“PPP”) project to design, construction, finance, operate and maintain the RAH.
  • This project is the largest social infrastructure project in South Australia’s history and is one of the most advanced medical facilities in the region.
  • Celsus Holding Pty Limited (“Celsus”) entered into a PPP contract in 2011 with the Government of South Australia to deliver and operate the RAH for a 35-year concession period. And the RAH was commissioned in 2017.
  • Since the completion of construction, Celsus has continued to operate smoothly, providing stable medical services as a core hospital in South Australia.
  • In July 2021, Celsus has completed a refinancing of approximately A$2.2 billion. This loan is structured entirely as a sustainability loan and is the largest sustainability loan in the world for the health care sector.