22 May 2017

HICL Infrastructure Company Limited

Completion of Acquisition

HICL Infrastructure Company Limited ("HICL" or the "Company"), the listed infrastructure investment company advised by InfraRed Capital Partners Limited ("InfraRed"), is pleased to announce that it has completed the acquisition of a 36.6% equity interest in the various entities that comprise the Affinity Water Group ("Affinity Water") (including the regulated entity, Affinity Water Limited). 

The details of the transaction were announced by the Company on 2 May 2017.

HICL is in advanced discussions to sell down a £25 million portion of this investment to a small group of co-investors, comprising UK local authority pension funds. This exemplifies the Group's strategy of building strategic relationships with aligned co-investors in order to enable HICL to manage its portfolio exposure to larger investment opportunities. The sell down is expected to complete in the next few weeks and will leave HICL with a 33.2% equity interest in Affinity Water and a net funding requirement of approximately £205m.

-ends-

Enquiries

InfraRed Capital Partners Limited                            +44 (0) 20 7484 1800

Tony Roper
Keith Pickard
Harry Seekings

Tulchan Communications                                            +44 (0) 20 7353 4200

David Allchurch
Latika Shah

Canaccord Genuity Limited                                         +44 (0) 20 7523 8000

David Yovichic

HICL Infrastructure Company Limited

HICL Infrastructure Company Limited ("HICL" or the "Company", and together with its subsidiaries the "HICL Group") is a long term investor in infrastructure assets which are predominantly operational and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange. With a current portfolio of 115 infrastructure investments, HICL is seeking further suitable opportunities, which are positioned at the lower end of the risk spectrum, in three target markets segments: PPPs; regulated assets; and demand-based assets.

Further details can be found on the HICL website, www.hicl.com.

Investment Adviser (InfraRed Capital Partners)

The Investment Adviser to HICL is InfraRed Capital Partners Limited ("InfraRed") which has successfully invested in over 200 infrastructure projects since 1997. InfraRed is a leading international investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul and Sydney. With over 120 professionals it manages in excess of USD 9bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of 60 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.

Further details can be found on InfraRed's website, www.ircp.com.