Lend Lease sells PFI to infra fund
6 July 2012
Lend Lease UK Infrastructure Fund has acquired the equity stake of a university PFI project from contractor Lend Lease.
Lend Lease’s 50% share in the University of Sheffield PFI deal has been transferred to the fund, which brings its funds under management to £137m. “Our aim is to recycle capital in order to unlock new investment opportunities,” said Tony Brown, managing director of Lend Lease’s investment management business. “This is a high quality PFI asset which fits perfectly within the fund’s investment strategy.”
The University of Sheffield PFI was signed by Lend Lease in 2006. Over the course of three years, the firm provided four phases of new and refurbished student accommodation, comprising a total of 4,000 beds.
For more on the project, click here.
