HICL invests £10m in UK social infra projects

The UK-listed infrastructure investment firm has bought additional equity and loan note interests in four existing Private Finance Initiative projects from subsidiaries of the facilities and estates management provider Sodexo.

HICL Infrastructure Company (HICL), the London Stock Exchange-listed infrastructure investment firm, has spent £10 million (€12.6 million; $15.8 million) to increase its interests in the Queen’s Hospital in Essex, Fife Schools, Exeter Crown Courts and Stoke Mandeville Hospital – all Project Finance Initiative (PFI) projects.

After buying additional equity and loan note interests from facilities and estates management provider Sodexo, HICL now owns 100 percent of the Exeter Crown Courts and Stoke Mandeville Hospital projects, 66.67 percent of Queen’s Hospital and 44.4 percent of Pinnacle Schools.

The Queen's Hospital in Romford, Essex, is one of HICL’s bigger investments, with a value greater than 5 percent of the company’s total assets. 

The acquisitions will be funded from HICL’s cash resources. In March this year the company raised £250 million in equity, comfortably surpassing its original £180 million target, in response to strong demand from investors.

HICL – previously known as HSBC Infrastructure Company Limited – currently manages 73 investments across various sectors, including education, health, and transport infrastructure.

HICL is advised by InfraRed Capital Partners, which spun out from HSBC in April last year.