JLIF to make aggressive changes in investment policy
John Laing Infrastructure Fund (JLIF) is seeking shareholder approval to amend the company's investment policy to provide greater optionality and flexibility in investment decisions. JLIF also announced changes to its agreement with John Laing, which will allow it to source a larger pool of assets in order to continue to meet the company's investment objective.
JLIF's board proposes to:- amend the company's investment policy to increase the limit on investment capital in projects under construction from 15% to 30% of the fund's total assets;
- amend the investment policy to allow the company to acquire infrastructure assets, comprising up to 10% of total assets, that are not government-backed PPP assets but have substantially the same risk profile and characteristics as PPP projects;
- enter into a new first offer agreement with John Laing plc to include the rail assets, such as the landmark InterCity Express Project in the UK, and to amend the existing agrement to exclude waste assets, resulting in a net increase in the pipeline from John Laing of approximately £115 million over the next six years;
- amend the investment policy to reflect certain consequential changes which are required as result of the new agreement and the amended existing agreement being adopted;
"Our announcement this morning marks another exciting step for JLIF. While we remain confident of asset flow in the near future, the proposed changes to our pipeline and investment policy will ensure JLIF is best positioned to continue to capture carefully selected opportunities, and will provide greater optionality and flexibility in investment decisions. This will help JLIF to capitalise on evolving changes taking place in the infrastructure market worldwide, giving the fund access to opportunities that would otherwise have been missed, and help JLIF to continue to drive value for shareholders."
Country news
-
-
January 27, 2014
Northleaf Capital Partners acquires 50 % of WHEB Infrastructure's solar portfolio
WHEB Infrastructure last week announced that it has reached a definitive agreement with infrastructure investor Northleaf Capital Partners to jointly pursue the continued expansion of a rooftop solar portfolio in the United Kingdom. Under the agreement, Northleaf has acquired a 50% stake in WHEB's operating rooftop solar portfolio, as well as a pipeline of additional installations that will be operational in early 2014. Read more -
January 28, 2014
HICL makes two PFI acquisitions in the UK
HICL Infrastructure has announced the acquisition of a 26% interest in Holdfast Training Services Limited, a PPP joint venture with Babcock International Group PLC that supports the Royal School of Military Engineering, from a subsidiary of Carillion plc and the acquisition of a 40% interest in the Sheffield BSF Schools project from Vinci Investments Limited. Read more -
January 28, 2014
Foresight adds six to its Infrastructure investment team
Foresight Group, the independent infrastructure and private equity investment manager, has expanded its Infrastructure team by six, taking its international team to 20 investment professionals, further strengthening its position as one of the largest dedicated teams in the solar sector. Read more -
January 29, 2014
Former Crossrail chief appointed Thames Tideway Tunnel CEO
Andrew Mitchell, Programme Director and Board Member at Crossrail, has been appointed as the Chief Executive Officer of the Thames Tideway Tunnel delivery organisation, it was announced last week. Read more -
January 30, 2014
Foresight strengthens environmental team with new appointments
Foresight Group, the independent infrastructure and private equity investment manager, has made three new appointments in its Environmental team, which now numbers ten investment professionals. Read more
