Developer’s investment arm plans capital raising

John Laing Infrastructure Fund (JLIF) – the investment arm of developer John Laing – is seeking to raise £155m to invest in school, hospital and road building projects.

The group is planning to spend £100m on nine projects, including a motorway in Scotland, five schools and Newcastle hospitals. JLIF currently manages 22 PFI and PPP schemes built by John Laing.

Paul Lester, chairman of JLIF, said: “The proposed capital raise of £155.8m is another major milestone for JLIF. The proceeds of the issue will predominantly be used for the acquisition of a new portfolio of high quality assets from John Laing Group that fit well within the investment criteria of the company.”