GLOBAL- London-based HSBC Specialist Investments (HSI) - part of HSBC Global Asset Management- has raised £125m from institutional investors in the UK, Europe and Asia for its for investment in European infrastructure projects.
HSI’s Infrastructure Fund is one of a small number of private equity investors focusing on the European infrastructure market. It believes that this market will expand in the next few years to become a distinct investment class for institutions, particularly in light of stock market volatility. A similar fund if planned for later this year.
The current fund has completed its first five equity investments, valued at over £90m across the HSL-Zuid High Speed Rail Link PPP (Public Private Partnership) project between Amsterdam and Brussels; Home Office Accommodation PFI (Private Finance Initiative) in London; Health and Safety Laboratory PFI project in Wales; West Middlesex Hospital PFI project, and Sussex Police Custody Centre PFI project.
The fund has secured a number of additional projects for which it is the preferred bidder.
Chief executive of HSI Werner von Guionneau said: “When we started investing in 1997, European infrastructure was a niche limited to a few opportunities in the UK. Since then, several hundred transactions have been completed in the UK and investment opportunities are increasing throughout Europe.
“Investor interest in infrastructure has been favourable in a difficult fund raising climate. “
By Madhu Kalia
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.