London, 13 December, 2012 - EISER Infrastructure Partners (“EISER”), an independent infrastructure fund manager managing assets with an enterprise value of over EUR 3 billion, is pleased to announce the successful sale of two private finance initiative (PFI) portfolios of schools in the UK to HICL, the listed infrastructure investment company.
The first portfolio being divested, Axiom Education Edinburgh Project, comprises eight schools in Edinburgh capable of accommodating approximately 6,600 pupils. The second, Axiom Education Perth & Kinross Project, contains eight schools across Perthshire and Kinross-shire and capable of accommodating approximately 4,800 pupils.
EISER acquired these assets at a “Preferred Bidder” stage in 2006. Over the past six years, EISER has worked to close the financing of the projects, manage the investment throughout the construction process with various stakeholders, including Laing O’Rourke and Mitie, and convert the assets successfully into operation.
Hans Meissner, Managing Partner at EISER, said:
“Throughout the process we have managed to de-risk the assets and build strong relationships with various counterparties. We are pleased to have been able to work with both local councils over the years to create a quality and balanced PFI school program, and to deliver what we believe are projects that add value for all of the stakeholders.”
EISER Infrastructure Partners LLP (“EISER”) is an independent equity fund manager with a focus on achieving client satisfaction by pursuing intelligent infrastructure investments. EISER’s independence enables it to remain flexible and focused on building positive relationships with investors, end users and partners, keeping their interests in mind at all times and putting them first.
EISER was advised in this transaction by KPMG (financial) and Hogan Lovells (Legal).