UK REIT Land Securities Group has announced the successful closing of Trillium PPP Investment Partners (Trillium). Trillium was a £1.136 bn (EUR 1.45 bn) joint venture vehicle that allowed third party investors to gain exposure to Land Securities Trillium's Public Private Partnership contracts. Half of Trillium’s initial £1.136 bn (EUR 1.45 bn) capital was debt financed while the other half was equity. Due to strong demand Land Securities Trillium will retain a 10% stake as opposed to the originally planned 15%.
UK REIT Land Securities Group has announced the successful closing of Trillium PPP Investment Partners (Trillium). Trillium was a £1.136 bn (EUR 1.45 bn) joint venture vehicle that allowed third party investors to gain exposure to Land Securities Trillium's Public Private Partnership contracts. Half of Trillium’s initial £1.136 bn (EUR 1.45 bn) capital was debt financed while the other half was equity. Due to strong demand Land Securities Trillium will retain a 10% stake as opposed to the originally planned 15%.
Equity partners are Halifax Bank of Scotland through its wholly owned subsidiary, Uberior Infrastructure Investments, Victorian Funds Management Corporation of Australia, funds from Bank of Ireland, Transport for London Pension Fund, Lloyds TSB, London Pensions Fund Authority and pension funds operated by Daily Mail General Trust. Already the largest investment vehicle specialising in PPP contracts Trillium is expected to grow to an invested value of almost EUR 2.5 bn over the next five years.
