HICL Infrastructure has acquired a 60 per cent equity and loan note interest in two further local improvement finance trust (LIFT) companies, namely the Medway LIFTCo and the Redbridge & Waltham Forest LIFTCo.
The £9.8m acquisition was funded from its existing cash resources and brings the total number of infrastructure investments in its portfolio to 81.
The two LIFTCos have together developed seven new primary care facilities with a total development cost of approximately £50m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
David Foot, Director of Infrastructure at InfraRed Capital Partners (HICL's Investment Adviser), said: "We are pleased to become the private sector partner in two further LIFTCos adding to our existing interests in the Birmingham & Solihull LIFTCo and the Staffordshire LIFTCo.
"We look forward to working with our public-sector partners to continue to provide new and improved health and social care facilities within the Medway and Redbridge & Waltham Forest areas."
The share price dipped 0.15% to 130.50p by 11:32 Tuesday.
NR
-
Nationwide: UK house prices creep up by 0.2% - are we heading for a rebound?Nationwide’s latest house price index shows property prices inched up by 0.2% as demand warms up - will this trend go into 2024?
-
December 2023 NS&I Premium Bond winners revealed - have you won the jackpot?
Two Premium Bond holders are now millionaires as NS&I reveals December winners. Find out if you’re one of them
