International Public Partnerships, the infrastructure investment company, has agreed to buy additional interests in eight "Building Schools for the Future" (BSF) education projects from Carillion Private Finance.
INPP expects to invest around £30.3m and on full completion will hold majority investment interests in BSF school projects in Wolverhampton, Nottingham, Rochdale, Durham, South Tyneside and Gateshead plus a 46% investment in the Tameside BSF project.
These investments were identified as targets for INPP as part of the recent £200m fundraising by the firm which completed on June 25th.
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The BSF programme was an initiative launched in 2004 by the previous government, with the aim of rebuilding or re-modelling every secondary school in England over a 20-year period.
Although the longer-term BSF programme has now been cancelled by the government, the schools which were the subject of the programme prior to its cancellation continue to be actively developed and managed.
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