InfraRed Capital Partners Announces Partial Divestment of Queen Alexandra Hospital

9 June 2023 Investments
InfraRed Capital Partners (“InfraRed”) is pleased to announce that it recently signed a Sale and Purchase Agreement to sell a 44% shareholder interest in Queen Alexandra PFI Hospital (“QAH” or the “Project”) to MM Capital Partners, a Japanese infrastructure investment manager controlled by Marubeni Corporation. The transaction is accretive, reflecting the attractiveness of infrastructure investments with good inflation correlation.

QAH is a flagship, acute public hospital with over 7,200 staff and 1,200 beds, that serves over 675,00 residents across Portsmouth and south-east Hampshire. InfraRed has been working  proactively and collaboratively over a number of years with all the key project stakeholders to resolve defects and successfully de-risk the project. InfraRed will continue to lead the management of the project given the longstanding, established relationships with key stakeholders and InfraRed’s majority ownership. This divestment demonstrates InfraRed’s active management of the portfolio.

Dulce Mendonça, Partner at InfraRed Capital Partners said:

QAH is an essential asset in the Portsmouth area, providing acute healthcare to the local population. We are committed to continuing to support QAH to deliver for this community, through our active management and strong relationships with stakeholders.”

Recently InfraRed also announced an investment in fibre-to-the-home platform Altitude Infra in France. This partial divestment of QAH will allow us to continue to pursue new investment opportunities within the core income space.

About InfraRed Capital Partners

InfraRed Capital Partners is an international infrastructure investment manager, with more than 190 professionals operating worldwide from offices in London, New York, Sydney and Seoul. Over the past 25 years, InfraRed has established itself as a highly successful developer and custodian of infrastructure assets that play a vital role in supporting communities. InfraRed manages US$14bn+ of equity capital1 for investors around the globe, in listed and private funds across both income and capital gain strategies.

A long-term sustainability-led mindset is integral to how InfraRed operates as it aims to achieve lasting, positive impacts and deliver on its vision of Creating Better Futures. InfraRed has been a signatory of the Principles of Responsible Investment since 2011 and has achieved the highest possible PRI rating2 for its infrastructure business for seven consecutive assessments, having secured a 5 star rating for the 2021 period. It is also a member of the Net Zero Asset Manager’s Initiative and is a TCFD supporter.

InfraRed is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. InfraRed represents the infrastructure equity arm of SLC Management, which also incorporates BentallGreenOak, a global real estate investment management adviser, and Crescent Capital, a global alternative credit investment asset manager.

1. Data as at Q4 2022. Equity Capital is calculated using a 5-year average FX rate

2. Principles for Responsible Investment (“PRI”) ratings are based on following a set of Principles, including incorporating ESG issues into investment analysis, decision-making processes and ownership policies. More information is available at

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