Checking C# new() initialisation for null?

I've found this piece of code on Koders:

private ServiceProvider SiteServiceProvider
{
    get
    {
        if (serviceProvider == null)
        {
            serviceProvider = new ServiceProvider(site as VSOLE.IServiceProvider);
            Debug.Assert(serviceProvider != null, "Unable to get ServiceProvider from site object.");
        }
        return serviceProvider;
    }
}

I'm wondering, is there any possible way the Debug.Assert(serviceProvider != null could trigger? I'm under the impression that new could only be aborted by an exception, in which case the assert would never be reached.