HICL invests in two new social infrastructure projects

27th Jan 2014 08:00

Investment group HICL Infrastructure has made two new acquisitions worth a total of 23.5m pounds, investing in the Holdfast Training Services Limited and the Sheffield BSF Schools project.The company has acquired a 26% stake in Holdfast, a public private partnership joint venture with support services firm Babcock that supports the Royal School of Military Engineering, from Carillion.The project is a 30-year concession to design, build, refurbish and maintain 32 new buildings, 21 refurbishments and five training areas across three UK locations on behalf of the UK Ministry of Defence.Meanwhile, HICL also bought a 40% interest in Sheffield BSF from Vinci Investments. The private finance initiative is a 27-year concession to design, build, finance, maintain and operate two new secondary schools and one new special educational needs secondary school in Sheffield for Sheffield City Council.Both acquisitions were paid for by HICL's revolving credit facility and take the number of infrastructure investments in its portfolio to 93."These investments characterise the group's core strategy of investing in social infrastructure projects with public sector clients and with availability-linked revenues," said James O'Halloran, Investment Director of infrastructure at HICL's investment advisor InfraRed Capital Partners.BC