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
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.