The John Laing Infrastructure Fund (JLIF) has completed the acquisition of a stake in Pembury Hospital, a new public/private partnership (PPP) infrastructure asset.
The fund is taking a 37.5% stake valued at £22.0m, acquiring it from construction firm John Laing.
The stake was one of three assets ear-marked for acquisition at the time of the £60.4m fund raising in September. The group announced the completion of the acquisition of the second of those assets, Forth Valley Royal Hospital, on Friday, October 12th.
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 Marshall from John Laing Capital Management (JLCM), Fund Manager to JLIF, said: "JLIF has now completed all three acquisitions described in the prospectus issued in September, fully invested the funds received from the capital raise and has utilised its cash balance in order to maximise the return for its shareholders investment. These assets further diversify JLIF's existing portfolio and JLCM continues to actively seek new opportunities for acquisition."
JH
-
Giorgio Armani: the irreplaceable Il SignoreGiorgio Armani started his fashion business in 1975 and built it into the world’s largest private luxury brand. Where can it go without him?
-
A strange calm in creditCorporate bond markets remain remarkably relaxed, with yields that offer little compensation for risks
