John Laing Infrastructure Fund ups stake in Europe route and Cleveland Police Headquarters

John Laing Infrastructure Fund (JLIF) has increased its stake in Europe's E18 road and north east England's Cleveland Police Headquarters, the company announced Friday.

John Laing Infrastructure Fund (JLIF) has increased its stake in Europe's E18 road and north east England's Cleveland Police Headquarters, the company announced Friday.

The FTSE 250 investment firm said it paid €3.15m for an additional 9.0% interest in E18, the route which runs from Craigavon in Northern Ireland to Saint Petersburg in Russia.

A further 7.5% holding in Middlesbrough's police headquarters was purchased for a consideration of £0.45m.

The transactions bring JLIF's total ownership of each asset up to 50%.

"We are delighted to announce the acquisition of additional stakes in these high quality operational assets," Fund Manager, Andrew Charlesworth, said.

"Today's announcement reflects the increasing number of stakes and assets in the JLIF portfolio sourced from the secondary market. JLIF has now acquired 10 such investments, and in an active secondary market, continues to seek new opportunities for acquisition from both John Laing and the wider market."

The news follows reports the organisation has put 16 jobs at risk as it reviews its approach to public private partnerships.

The firm has withdrawn from bidding for new joint ventures with councils, according to building.co.uk on Friday.

JLIF said in a statement it was concerned about a lack of "social infrastructure opportunities in the foreseeable future".

The company cited in particular the Local Asset Backed Vehicle model, saying it had "not gained sufficient traction" so it will be ceasing to bid for any further opportunities.

RD

Recommended

The Burberry share price looks like a good bet
Trading

The Burberry share price looks like a good bet

The Burberry share price could be on the verge of a major upswing as the firm’s profits return to growth.
5 Oct 2022
3 emerging market dividend stocks to buy now
Share tips

3 emerging market dividend stocks to buy now

Professional investor Omar Negyal of the JPMorgan Global Emerging Markets Income Trust picks three of his favourite emerging market stocks for income …
4 Oct 2022
Share tips of the week – 30 September
Share tips

Share tips of the week – 30 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
30 Sep 2022
The best British tech stocks from a thriving sector
Share tips

The best British tech stocks from a thriving sector

Move over, Silicon Valley. Over the past two decades the UK has become one of the main global hubs for tech start-ups. Matthew Partridge explains why,…
29 Sep 2022

Most Popular

Should you take a 25% tax-free pension lump sum in instalments?
Pensions

Should you take a 25% tax-free pension lump sum in instalments?

Taking out a 25% tax-free lump sum sounds appealing but it might not be the best way to manage your pension
30 Sep 2022
Mortgage early repayment charges: are they worth the cost?
Mortgages

Mortgage early repayment charges: are they worth the cost?

With interest rates set to rise further in the months ahead, is it worth swallowing early repayment charges to refinance your mortgage today?
4 Oct 2022
Why the Bank of England intervened in the bond market
Government bonds

Why the Bank of England intervened in the bond market

A sudden crisis for pension funds exposed to rapidly rising bond yields meant the Bank of England had to act. Cris Sholto Heaton looks at the lessons …
30 Sep 2022