John Laing Infrastructure Fund (JLIF) has completed its acquisition of a 50 per cent shareholding in the Kelowna & Vernon Hospitals P3 project. In October the company successfully raised £242m of capital, the largest in the fund's history.
The Kelowna & Vernon Hospitals project is JLIF's third investment in the Canadian secondary P3 market to date making for a total of 51 projects in the company's portfolio with Canadian assets accounting for 12 per cent.
Fund manager to JLCM, David Marshall, said:
We are delighted to announce the acquisition of this high quality asset following the largest capital raise we have competed since our listing in 2010. This asset further diversifies JLIF's portfolio and JLIF has now acquired £201.0 million of projects in 2013. The existing debt facility has already been repaid in full using the proceeds of the capital raise and we continue to actively seek new growth opportunities.