QIC and Northeastern University Complete Transition of Campus Parking and Transportation System Management

BOSTON, Aug. 6, 2019 /PRNewswire/ -- QIC, a global diversified alternative investment firm, today announced that QIC Global Infrastructure and Northeastern University have successfully completed, as planned, the transition of management of the University's parking system to MasParc and Mobility LLC (MasParc).

QIC Global Infrastructure formed MasParc in January 2019 as part of its 50-year partnership with Northeastern University. MasParc now manages all aspects of the parking system at Northeastern, a large, urban university in the heart of Boston, including the parking permit system, enforcement, event parking management, parking facility maintenance, and major renovations. MasParc has selected LAZ Parking to operate the University's Boston campus parking facilities.

Over the next year, MasParc will make several improvements to the University's parking facilities such as re-striping and power washing all garages and lots, repairing surface lots, installing new signage, and introducing real-time parking occupancy counters and license plate recognition for quicker entry and exit. The company also plans to invest in major technology upgrades and integrate mobile technologies into its services, which will benefit its customers, the environment, and the broader University community.

Matthew Inman has been named General Manager of MasParc. Mr. Inman, a parking and transportation expert, was formerly Director of Transportation and Parking Services at Florida State University (FSU) from 2014 until earlier this year. While at FSU, he was responsible for managing parking and transportation operations for a campus of approximately 42,000 students and 6,000 faculty and staff. In that role, he introduced a campus-wide License Plate Recognition system and managed FSU's transition to a "virtual" permit campus. Prior to FSU, Mr. Inman was with Carl Walker Inc. for 14 years where he completed more than 300 parking and transportation consulting projects for public and private clients across North America.

Ross Israel, Head of QIC Global Infrastructure, said, "We achieved an important milestone in our partnership with Northeastern when MasParc assumed management of the campus parking system on July 1. We are delighted to have brought on board Matt Inman, a veteran of the parking and transportation services and consulting industries, to lead our management of the Northeastern parking and mobility services system. We look forward to collaborating with the University to enhance the customer experience, build the system's long-term value, and deliver meaningful benefits for the University and its community."

QIC's agreement with Northeastern University is the first of its kind for a private university in the U.S. It is also the first agreement providing for the future development of technology-enabled mobility-as-a-service solutions to meet commuters' travel needs as required. As a result of the agreement, Northeastern University received an upfront capital commitment from QIC that will allow the University to support its education mission and priorities of globalization and innovation in higher education and research.

MasParc is QIC's second parking partnership in the U.S. In 2012, QIC formed CampusParc, which operates all aspects of The Ohio State University's parking system, through a 50-year agreement. Now in its seventh year, CampusParc continues to operate one of the largest university parking systems in the U.S.

About QIC Global Infrastructure:
QIC is a long-term infrastructure investor with an established global platform, an active management approach and a proven, 12-year track record. With a global team of over 40 professionals, QIC Global Infrastructure manages A$12.3 billion across 14² global direct investments and has realised a further A$7.2 billion of investments for its clients. Its sector centric investment strategy deconstructs risk across sector value chains identifying relative value for investment. This drives a targeted origination approach, enabling the firm to build diversified portfolios for its clients. Since 2006, this investment strategy has delivered strong total returns for its clients³.  

¹ As at 30 June 2019. 
² Includes QIC's investment in Brussels Airport, which is expected to reach financial close in Q3 2019.
³ Past performance is not an indicator of future performance.

About QIC¹:
QIC is a leading long-term specialist manager in alternatives offering infrastructure, real estate, private capital, liquid strategies and multi-asset investments. It is one of the largest institutional investment managers in Australia, with A$80 billion (US$56 billion) in funds under management¹. QIC has over 1,000 employees and serves more than 110 clients. Headquartered in Brisbane, Australia, QIC also has offices in Sydney, Melbourne, New York, Los Angeles, Cleveland, San Francisco, London and Copenhagen. For more information, please visit: www.qic.com. 

¹As at 30 June 2019. 

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