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]
The 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]
The company is a large external investor in NHS hospitals:
Project 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]
The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States.
The private finance initiative (PFI) was a United Kingdom government procurement policy aimed at creating "public–private partnerships" (PPPs) where private firms are contracted to complete and manage public projects. Initially launched in 1992 by Prime Minister John Major, and expanded considerably by the Blair government, PFI is part of the wider programme of privatisation and financialisation, and presented as a means for increasing accountability and efficiency for public spending.
Skanska AB is a multinational construction and development company based in Sweden. Skanska is the fifth-largest construction company in the world according to Construction Global magazine. Notable Skanska projects include renovation of the United Nations Headquarters, the World Trade Center Transportation Hub project, Moynihan Train Hall, 30 St Mary Axe, MetLife Stadium, Mater Dei Hospital, among others.
A public–private partnership is a long-term arrangement between a government and private sector institutions. Typically, it involves private capital financing government projects and services up-front, and then drawing revenues from taxpayers and/or users over the course of the PPP contract. Public–private partnerships have been implemented in multiple countries and are primarily used for infrastructure projects. They have been employed for building, equipping, operating and maintaining schools, hospitals, transport systems, and water and sewerage systems.
Mundys SpA is an Italian holding company active in the motorway and airport infrastructure and mobility-related services industry, operating tolling services in 24 countries, including 11 for motorway and airport infrastructure concessions.
Carillion plc was a British multinational construction and facilities management services company headquartered in Wolverhampton in the United Kingdom, prior to its liquidation in January 2018.
John Laing Group plc is a British investor, developer and operator of privately financed, public sector infrastructure projects such as roads, railways, hospitals and schools through Public-Private Partnership (PPP) and Private Finance Initiative (PFI) arrangements. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until the court approved the acquisition of the company by KKR in September 2021.
Caisse de dépôt et placement du Québec is an institutional investor that manages several public and parapublic pension plans and insurance programs in Quebec. CDPQ was founded in 1965 by an act of the National Assembly, under the government of Jean Lesage. It is the second-largest pension fund in Canada, after the Canada Pension Plan Investment Board. As of June 30, 2023, CDPQ managed assets of C$424 billion, invested in Canada and elsewhere. CDPQ is headquartered in Quebec City at the Price building and has its main business office in Montreal at Édifice Jacques-Parizeau.
Sandwell and West Birmingham NHS Trust is one of the largest National Health Service teaching Trusts in England and comprises Sandwell General Hospital in West Bromwich, City Hospital, Birmingham and Rowley Regis Hospital. The trust was established on 1 April 2002 following approval given by the Secretary of State for Health to amalgamate Sandwell Healthcare NHS Trust and City Hospital NHS Trust.
Queen Elizabeth Hospital is a hospital in Woolwich in the Royal Borough of Greenwich. It was opened in March 2001 and serves patients from the Royal Borough of Greenwich and the London Borough of Bexley. The hospital was built to accommodate the services previously provided at Greenwich District Hospital and Brook General Hospital, and is a Private Finance Initiative hospital. It is managed by the Lewisham and Greenwich NHS Trust.
University Hospital Coventry is a large National Health Service (NHS) hospital situated in the Walsgrave on Sowe area of Coventry, West Midlands, England, 4 miles (6 km) north-east of the city centre. It is part of the University Hospitals Coventry and Warwickshire NHS Trust, and is the main hospital covering Coventry and Rugby. It works in partnership with the University of Warwick's Warwick Medical School. It has a large, progressive accident & emergency department providing a trauma service to Coventry and Warwickshire.
Sherwood Forest Hospitals NHS Foundation Trust was formed in 2001 and gained Foundation Trust status in 2007. It runs three hospitals in Nottinghamshire - King's Mill Hospital, Newark Hospital and Mansfield Community Hospital. It also operates services from Ashfield Health Village.
St Helens and Knowsley Teaching Hospitals NHS Trust was an NHS Trust that operated from 1991 until 2023, based in Whiston, Merseyside. The trust became part of Mersey and West Lancashire Teaching Hospitals NHS Trust on 1 July 2023.
Derby Teaching Hospitals NHS Foundation Trust was a former NHS trust that ran Royal Derby Hospital and the London Road Community Hospital, both in Derby, together with outpatient and diagnostic services in a range of community hospitals, health centres and GP surgeries across southern Derbyshire, until its merger in July 2018 with Burton Hospitals NHS Foundation Trust, when it created University Hospitals of Derby and Burton NHS Foundation Trust.
Meridiam is a global investor and asset manager based in Paris specialized in developing, financing and managing long-term public infrastructure projects. Founded in 2005, Meridiam invests in public infrastructure in Europe, North America and Africa.
Midland Metropolitan University Hospital is a new acute general hospital being built on a 16 acres site in Grove Lane at Smethwick near Birmingham. The hospital was designed by a team led by HKS and including Edward Williams Architects and Sonnemann Toon Architects. Already behind its original target completion date of October 2018, it was being built by Carillion. However, the company went into liquidation in January 2018, causing the PFI contract to be terminated. This, plus later materials and manpower shortages, delayed the hospital's completion until, potentially, Spring 2024.
The Ministry of Defence Main Building or MOD Main Building, also known as MOD Whitehall or originally as the Whitehall Gardens Building, is a grade I listed government office building located on Whitehall in London. The building was designed by E. Vincent Harris in 1915 and constructed between 1939 and 1959 on part of the former site of the Palace of Whitehall, specifically Pelham House, Cromwell House, Montagu House, Pembroke House and part of Whitehall Gardens. It was initially occupied by the Air Ministry and the Board of Trade before in 1964 becoming the current home of the Ministry of Defence.
Project Allenby Connaught is a scheme begun in 2006 to redevelop the military garrisons of Aldershot and Salisbury Plain in the United Kingdom. The project is named after Lord Allenby who served as a cavalry commander on Salisbury Plain, and the Duke of Connaught who was Commander-in-Chief at Aldershot Command.
National Investment and Infrastructure Fund Limited (NIIFL) is an investment platform for international and Indian investors anchored by the Government of India. The objective behind creating this organisation was to catalyse capital into the country and support its growth needs across sectors of importance.