This article is from the Australian Property Journal archive
LEND Lease has sold its equity in three operational UK healthcare and education Public Private Partnership assets to the Lend Lease UK Infrastructure Fund for £30 million (approximately $A47 million).
The fund was launched in December 2010 with £220 million in committed capital available to invest in social infrastructure assets over five years.
Lend Lease has a minority co-investment in the fund alongside the majority investor, Dutch pension fund service provider, PGGM.
Lend Lease CEO Steve McCann said the delivery of the fund mandate is in line with the group’s strategy to recycle capital and another example of the Group’s integrated model.
“The transaction enables Lend Lease to recycle further capital in the UK as well as remain actively involved through the provision to the Fund of asset, facilities management and fund management services,” McCann concluded.
Australian Property Journal
