Disposal of an investment
01 March 2021
HICL Infrastructure PLC
("HICL" or "the Company" and, together with its subsidiaries, "the Group"), the London-listed infrastructure investment company managed by InfraRed Capital Partners Limited ("InfraRed" or "the Investment Manager".)
Disposal of an investment
HICL is pleased to announce that the Group has entered into an agreement to divest its entire equity and subordinated debt interests in the South East London Police Stations PPP project. The consideration is c. £27m and the disposal is expected to complete during Q1 2021.
The disposal is in line with HICL's ongoing strategy of portfolio optimisation, delivering incremental value to shareholders through strategic disposals that are accretive to key investment metrics and benefit overall portfolio construction.
Harry Seekings, Head of Infrastructure at InfraRed Capital Partners Limited, said:
"This transaction reflects a continuation of HICL's strategy to pursue selective disposals where they are accretive to the Group's portfolio and deliver value to shareholders. The proceeds provide further capacity to pursue HICL's attractive pipeline of investment opportunities."
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Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
Harry Seekings
Keith Pickard
Edward Hunt
Teneo +44 (0) 20 3757 9257
Haya Herbert-Burns
Investec Bank plc +44 (0) 20 7597 4952
David Yovichic
RBC Capital Markets +44 (0) 20 7653 4000
Matthew Coakes
HICL Infrastructure PLC
HICL Infrastructure PLC ("HICL") is a long-term investor in infrastructure assets which are predominantly operational and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange.
With a current portfolio of 117 infrastructure investments, HICL is seeking further suitable opportunities, which are positioned at the lower end of the risk spectrum, in three target markets segments: PPP projects; regulated assets; and demand-based assets.
Further details can be found on the HICL website www.hicl.com.
Investment Manager (InfraRed Capital Partners)
The Investment Manager to HICL is InfraRed Capital Partners Limited ("InfraRed"), which has successfully invested in over 200 infrastructure projects since 1997. InfraRed is a leading international investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul and Sydney. With over 160 professionals it manages in excess of US$12bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.
The infrastructure investment team at InfraRed consists of over 90 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.
InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.
Further details can be found on InfraRed's website www.ircp.com.
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