HICL lifts investment portfolio to 85 after two acquisitions

Infrastructure projects investor HICL Infrastructure has completed two investments worth a combined 41.6m pounds, taking the number of investments in its portfolio to 85.

The firm has acquired a 39% equity and loan note interest in the South West Hospital Enniskillen PFI Project from FCC Construccion, tapping into a 33-year concession to design, construct, finance and maintain a new hospital on a greenfield site in Northern Ireland.

HICL has also completed the purchase of a 50% equity and loan note interest in the University of Sheffield Project from InfraRed Infrastructure Fund.

"We are pleased to have completed these acquisitions which were identified as part of the group's pipeline of new investment opportunities at the time of the company's recent successful equity capital raising, and were part of the pipeline referred to in the company's recent results announcement," said Erwan Fournis, Director of Infrastructure at HICL's investment adviser InfraRed Capital Partners.

"We look forward to working with our co-shareholders and public sector partners to continue the provision of quality services for these projects."

In March, the company raised £167.3m through a placing which was to be used to meet its funding requirements, to reduce outstanding debt and provide the firm with further resources for investments.