Innisfree Ltd is a fund management company based in the United Kingdom which manages substantial interests in private finance initiative (PFI) schemes in the UK, Canada, Sweden and The Netherlands. It invests funds in social infrastructure projects such as hospitals and schools on behalf of institutional investors such as local authority pension funds. The company has a portfolio of 53 projects with a capital value of over £18 billion.[1]
Role
editThe company was founded by David Metter in 1995 and has raised over £2.3 billion to date. Currently, it has over £1.7 billion under management in four long term income funds. These funds have lives of 35 years or more which matches the length of a typical PFI contract of between 25 and 30 years and reflects Innisfree's policy to remain a long term partner in these projects.[2]
PFI schemes
editNational Health Service
editThe company is a large external investor in NHS hospitals:
- St Bartholomew's Hospital[3]
- Royal Derby Hospital[4]
- University Hospital Coventry[5]
- Whiston Hospital[6]
- King's Mill Hospital[7]
- Royal Victoria Infirmary[8]
Defence
editProject Allenby Connaught, at £1.8 billion, is one of the UK's largest PFI projects. The 35-year contract with Aspire Defence was let in 2006. It involves servicing and refurbishment of buildings on 800 ha of army land around Salisbury Plain and in Aldershot.[9] Aspire Defence Limited is 37.5% owned by "funds managed by Innisfree"; the other shareholders are InfraRed Capital Partners (17.5%) and KBR (45%).[10]
References
edit- ^ "innisfree". innisfree. Retrieved 2016-04-13.
- ^ "Funds". innisfree. Retrieved 2016-04-13.
- ^ "Skanska/Innisfree consortium wins bid to redevelop Barts". IJ Global. 31 October 2003. Retrieved 5 October 2014.
- ^ "Huge PFI hospital for Derby". BBC. 3 September 2013. Retrieved 5 October 2014.
- ^ "Multinational firm Skanksa sells its stake in the PFI company behind University Hospital, Coventry". 1 December 2012. Retrieved 5 October 2014.
- ^ "St Helens and Knowsley PFI Hospitals Project". Constructing Excellence. Retrieved 5 October 2014.
- ^ "Skanska Innisfree wins £265m health PFI". 1 September 2004. Retrieved 5 October 2014.
- ^ "Moody's changes Healthcare Support (Newcastle) Finance plc's outlook to developing from positive". Moody's. 29 November 2013. Retrieved 5 October 2014.
- ^ "Defence Infrastructure Organisation: Project Allenby Connaught". Ministry of Defence. 12 December 2012. Retrieved 4 September 2015.
- ^ "Our Sponsors". Aspire Defence. Retrieved 6 October 2014.