GLIL Infrastructure (GLIL) is investing £106m (€181.1m) into Semperian PPP Investment Partners Holdings for an undisclosed minority stake.
GLIL, the £1.3bn investment joint venture between five local UK public pension schemes, said the investment gives GLIL’s investors access to Semperian’s large and diversified portfolio of mature, operating infrastructure assets within the social infrastructure sector.
Semperian’s £1.4bn of managed assets are mostly located within the UK, with government-backed and inflation-linked cash flow streams.
Semperian has investments in 92 assets, made up of 2.8m sqm of accommodation, 15,000 hospital beds, 1,600 car parking spaces, 163 schools and 508km of road.
Jonathan Ord, GLIL’s investment director, said: “GLIL is very pleased to be able to make this investment into Semperian, acquiring a portfolio of mature assets and helping to provide capital for the future growth of the company.
“The business is well established, with a track record of successfully owning and operating social infrastructure assets, backed by strong and stable cash flows.”
Andrew Rhodes, Semperian’s chief investment officer, said: “We are extremely pleased to welcome GLIL as an investment partner. Their ambition is to be a long-term investor, accessing mature infrastructure assets, owned and managed by experienced professionals.
“These aims are aligned with the objectives of our business and we look forward to working with them.”
The GLIL partnership is made up of the London Pensions Fund Authority, Greater Manchester Pension Fund, Merseyside Pension Fund, West Yorkshire Pension Fund and Lancashire County Pension Fund.