New UK Investment

RNS Number : 0792H

HICL Infrastructure Company Ld

11 March 2015

 



11 March 2015

HICL Infrastructure Company Limited

New UK Investment in Schools Building Programme

HICL Infrastructure Company Limited, the listed infrastructure investment company advised by InfraRed Capital Partners Limited, is pleased to announce a new investment of £7.2m, being a 45% interest in the Priority Schools Building Programme ("PSBP") North East Batch Project (the "Project").

The Project, which has a capital value of £103m, reached Financial Close on 10 March 2015 and, once constructed, will comprise six new-build secondary schools and six new-build primary schools.

The Project is part of the wider PSBP, a centrally managed programme set up to address the needs of the schools most in need of urgent repair. Through the programme, 260 schools will be rebuilt or have their condition needs met by the Education Funding Agency (EFA).

PSBP Private Finance is procuring the design, build, finance and operation of 46 new schools in 5 geographic areas ('batches') across England.  Each privately financed batch will be procured under the Private Finance - model 2 (PF2) framework, and the Project is the first privately funded project to close under this new model.

The construction works will be undertaken by a subsidiary of Galliford Try Plc over a period of 18 months from financial close, and will comprise the demolition of redundant buildings and the construction of the new schools.

Hard FM services will be provided by a subsidiary of Galliford Try Plc over a 25-year period under a concession contract, as well as lifecycle replacement for the buildings' fabric and services and certain furniture, fittings and equipment.

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Enquiries

InfraRed Capital Partners Limited                            [phone]

Tony Roper

Keith Pickard

Laurence Richardson

Tulchan Communications                                            [phone]

Martha Walsh

Victoria Huxster

Canaccord Genuity Limited                                         [phone]

Dominic Waters

Neil Brierley

Will Barnett

David Yovichic

HICL Infrastructure Company Limited

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "Group") is a long term investor in infrastructure projects which are predominantly in their operating phase and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange. With a current portfolio of 97 social and transportation infrastructure investments with predominantly availability-based income streams, it is seeking further suitable investment opportunities which fit its stated Investment Strategy.

Further details can be found on the HICL website, www.hicl.com.

InfraRed Capital Partners Limited

The Investment Adviser to HICL is InfraRed Capital Partners Limited ("InfraRed") which has successfully invested in over 160 infrastructure projects since 1997. InfraRed is a leading international investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Paris, Seoul and Sydney. With over 100 professionals it manages in excess of USD 8bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of over 50 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

Further details can be found on InfraRed's website, www.ircp.com.

 

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