PPP specialist will invest in infrastructure projects by issuing shares in newly set up fund
PPP specialist John Laing has published details of its plan to raise up to £270m for a listed infrastructure fund.
The company has set up the John Laing Infrastructure Fund and is aiming to raise money by issuing shares which will be invested in an initial portfolio of 19 PFI and PPP infrastructure projects acquired from John Laing or its subsidiaries.
John Laing Group has committed to subscribe for at least 20% of the shares issued at launch and the rest will be offered to institutional investors in the UK and internationally and to retail investors in the UK. £270m shares will be offered and the closing date for the subscription is the 17 November.
Paul Lester, chairman of JLIF, said: “We believe that at a time when gilt rates are at historic lows and corporate equity has proved volatile, this offers investors an opportunity to participate in a proven, low risk model, with a predictable yield, a level of protection against growing inflation rates and prospects of capital growth.”