Foresight Group has announced the acquisitions of interests in four operational PFI healthcare projects including Lochgilphead Hospital, Bishop Auckland Hospital, Wharfedale Hospital and Stobhill Local Forensic Psychiatry Unit.

Foresight paid £11 million for the stakes in the four assets which are located in Scotland and Northern England.

The acquisition brings Foresight's growing portfolio of secondary PFI infrastructure assets to eight, comprised of four in the education sector and four in the healthcare sector.

Foresight anticipates securing further Secondary market PFI assets in the near future.

Richard Thompson, Senior Investment Manager at Foresight commented: "These four assets complement the existing assets in our PFI portfolio exhibiting strong yield and performance track records and average concession lives in excess of 20 years. In addition to further secondary PFI acquisitions, it is our intention to make future primary market equity investments alongside strong contractor partners in the UK and Western Europe."

Foresight is actively seeking further investments in the market and, in addition to monies from its innovative Infrastructure VCT shares, expects to deploy funds raised through the Foresight Inheritance Tax Solution (Foresight ITS) which has an evergreen fundraising plan targeting deployment of up to £50m per annum in larger ticket PFI and infrastructure transactions.

Foresight has in excess of £650 million assets under management across a number of funds. Foresight has been appointed by the Green Investment Bank to manage £50 million of an initial £80 million investment fund set aside by UK Government to invest in green infrastructure across the UK.

Source: Foresight