Key Investment Highlights
  • Strong, predictable dividend yield, with an annual target of  6% on the issue value and an IRR target of 7% to 8%
  • Fully invested in PFI/PPP infrastructure projects, with contracted government-backed revenue streams, inflation-linked returns and long-term contracts
  • PFI/PPP experienced management team
  • Prospects for capital growth from asset management and strong pipeline of acquisition opportunities
  • John Laing Group subscribed for 23.1% of the Ordinary Shares in JLIF at launch
  • Debt limited to a maximum of 25% of total asset value, for use in acquisitions.

John Laing Infrastructure Fund Limited (‘JLIF’), a Guernsey registered closed-ended investment company achieved a Primary Listing listed on the London Stock Exchange in November 2010. At IPO the company successfully raised its target of £270m, which it has used to acquire 21 low risk operational, availability* based, global infrastructure PFI/PPP projects from the John Laing Group, completing the acquisitions within a month of listing.

JLIF will manage these 19 projects to ensure the delivery of their ongoing value and yield in order to deliver and maximise shareholder value through total returns. In the longer term the company will seek to grow through acquisitions of further PFI/PPP assets from both John Laing Group and from third parties when we identify assets that can generate value for shareholders.

JLIF will be advised on a day to day basis by John Laing Capital Management Limited (‘JLCM’), a wholly owned subsidiary of John Laing. JLCM has been authorised and regulated in the UK by the Financial Services Authority since December 2004. David Marshall and Andrew Charlesworth, who between them have over 20 years’ experience in infrastructure investments, are directors of JLCM and lead its management team. They are dedicated to advising JLIF and managing its holding entities.

* One project in the seed portfolio (the M40 Motorway) has revenue calculated through a shadow toll mechanism, although this is relatively insensitive to traffic movements

 

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