McBains has advised one of the world's largest pension investors APG Asset Management N.V (APG) on its recent successful acquisition of a UK PPP portfolio, having provided technical due diligence services in relation to the acquired assets.
The investment provides the initial seed assets for a strategic Separately Managed Account (SMA) with InfraRed Capital Partners, a leading international infrastructure asset manager. The portfolio of UK availability-based social infrastructure assets was acquired by APG from HICL Infrastructure PLC. These assets are spread across health and education projects, including Southmead Hospital and Edinburgh Schools.
McBains was appointed by APG to undertake a technical due diligence exercise on the assets to identify and assess technical, operational, lifecycle and commercial risks impacting the valuation of the portfolio.
Head of Asset Management and PPP, Asela Premachandra, who led the McBains team advising on the transaction, commented: “We’re delighted to have supported APG Asset Management in the expansion of their portfolio with this milestone investment in UK PPP assets and we are confident that this acquisition represents a strong addition to their asset base”.
Marjolaine Lopes, Europe Social Infrastructure Lead at APG, commented: “This transaction marks a meaningful step in expanding our social infrastructure portfolio, providing access to high-quality assets in the UK healthcare and education sectors. As we continue to grow our infrastructure exposure, we remain committed to delivering strong financial outcomes while contributing to a more sustainable future. We would like to thank the McBains team for their support with this transaction”.
APG is a Dutch pension investment company and a direct subsidiary of Stichting Pensioenfonds ABP, the largest pension fund in the Netherlands.
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