GLIL Infrastructure and Local Pensions Partnership Investments (LPPI) have doubled their equity stakes in UK social infrastructure fund Semperian PPP Investment Partners.

GLIL, the £2.5bn (€2.9bn) fund backed by a number of UK local government pension schemes (LGPS), and LPPI said they now hold a combined 47.1% stake in Semperian, making them the largest shareholders.

Semperian has investments in 94 assets mostly located within the UK, with government-backed and inflation-linked cash flow streams. The assets include accommodation, hospital beds, car parking spaces, schools and road assets.

GLIL and the £22bn LGPS investment pool LPPI said they will continue to support Semperian as the fund explores new opportunities to expand its portfolio.

Colin Simpson, the head of asset management at LPPI, said: “The team at Semperian is one of the most experienced in the industry and has built an investment vehicle with a portfolio of high quality, mature assets that is ideally suited to the long-term investment needs of our members.

“Together with GLIL Infrastructure, we see the growth in our relationship with Semperian as a strategic investment that will help drive further investment into the UK’s social infrastructure.”

Alan Birch, CEO at Semperian PPP Investment Partners, said: “GLIL and LPPI are committed investors who share our vision of performance-driven by dedicated management and who understand the critical role that pension funds can have to invest in building social infrastructure and help fund the provision of essential public services to local communities. We look forward to continuing our work together.”

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