APG, on behalf of its pension fund client ABP, has agreed to acquire an operational portfolio of seven high quality Public-Private Partnership (PPP) assets in the UK, including hospitals, primary care and community health and educational facilities (the “Seed Portfolio”), from HICL Infrastructure PLC, a London-listed infrastructure investment company managed by InfraRed Capital Partners (“InfraRed”).
The Seed Portfolio will be acquired through a Separately Managed Account (“SMA”) with ABP as sole limited partner, managed by InfraRed. As part of the transaction, APG has established a partnership framework with HICL, enabling the SMA to consider future acquisitions in alignment with its investment strategy.
The transaction strengthens ABP’s exposure to resilient core infrastructure assets and represents a first step toward executing its strategy to increase allocation to social infrastructure.
Completion of the transaction is expected by 31 December 2025 and is subject to customary third-party consents.
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. We look forward to working with InfraRed to further enhance the value of these investments. As we continue to grow our infrastructure exposure, we remain committed to delivering strong financial outcomes while investing in a responsible way.”