InfraRed Capital Partners Limited (InfraRed), the Investment Adviser to HICL Infrastructure Company Limited (HICL), is pleased to announce that HICL has been voted Best Infrastructure Fund of the Year 2011 by PPP Bulletin.
The announcement caps a highly successful year for HICL, in which the Group purchased five new assets and made four follow-on investments in existing projects, for a total of £151m. Furthermore, HICL raised in excess of £156m of new capital through tap issues and a 110m C Share issuance.
The judging panel noted HICL’s fundraising success and the number of transactions completed by HICL despite the difficult economic climate. Also noted was the breadth of the HICL portfolio, which in 2010 expanded to include North America with the acquisition of two Canadian projects.
In May 2011, HICL made 3 more acquisitions, taking its portfolio up to 40 investments and a market capitalisation of c.£700m.
Commenting on the PPP Bulletin announcement Tony Roper, the Director at InfraRed responsible for the team who manages HICL, said: “We are delighted to have won this award. It is an acknowledgement of HICL’s continued solid performance, combined with significant strategic achievements during 2010: a high level of acquisition activity, successful geographic diversification into a key target country and successful fund raising in a difficult economic climate”.