InfraRed Capital Partners has established a strategic separately managed account (SMA) with APG, the largest Dutch pension services provider, to provide APG with diversified exposure to social infrastructure investments across Europe.
The SMA will be seeded with an initial £225 million ($305 million) portfolio of seven core U.K. social assets that have been acquired from HICL Infrastructure. The goal is substantial expansion of this portfolio over time.
These assets are spread across health and education projects, including Southmead Hospital and Edinburgh Schools. Through this transaction, HICL has also agreed to a partnership framework with APG that creates the scope for future mutually beneficial divestments and co-investments.
This transaction enhances InfraRed and HICL’s relationship with APG, who will become a co-shareholder on several of HICL’s assets.
“We are delighted to deepen our relationship with APG, a highly sophisticated infrastructu
