Lend Lease launches infra fund

Lend Lease has become the latest investment group to launch a new fund aimed at the infrastructure market.

The Lend Lease UK Infrastructure Fund has been launched with £220m of investment from Dutch investment manager PGGM.

Due to run for 28 years, the fund will invest in established healthcare, education and accommodation projects in the UK that are already owned by Lend Lease.

It aims to free up capital for Lend Lease to invest in new projects in the future.

“The fund will gain exposure to Lend Lease’s portfolio of core social infrastructure assets and is in line with the group’s strategy to invest alongside third party capital,” said Lend Lease Group chief executive, Steve McCann.

The new fund follows an announcement by Macquarie earlier this week that it intends to launch its fourth European infrastructure fund in the new year.