John Laing infra fund acquires two PFI projects

The £270m infrastructure fund managed by UK developer John Laing has acquired stakes in two private finance initiative projects for £9m.

The John Laing Infrastructure Fund has added two more public-private partnerships to its portfolio, and expects to complete the acquisition of two more in the next few weeks.

The fund, managed by UK developer John Laing, now owns 100 percent of the Bentilee Community Centre near Stoke-in-Trent. The centre, which was completed in 2007, combines health care facilities, a library, pharmacy and shops. The fund also increased its stake in the Queen Elizabeth Hospital in Greenwich from 15 percent to 27.5 percent.

Following the acquisition of the next two projects, the fund will own 22 assets, according to a statement. John Laing owns 23.1 percent of the fund’s shares, making it the largest shareholder.

David Marshall, investment adviser to the fund, said in the statement that the fund's “acquisition pipeline remains strong”.

“We expect to take advantage of similar opportunities as they emerge in the future not only from John Laing Group but also from other parties,” he added.

The John Laing Infrastructure Fund, which raised £270 million (€304.4 million; $439 million) late last year through its initial public offering on the London Stock Exchange, raised an additional £27.4 million earlier this month. 

Shares of the John Laing Infrastructure Fund closed Wednesday down 0.36 percent at £1.05 per share.