LONDON: International Public Partnerships Limited (INPP), a prominent infrastructure investment company, has successfully completed a partial disposal of its Family Housing for Service Personnel (FHSP) investment, generating approximately £30 million. The sale price aligns with the company’s valuation as of June 30, 2024.

The FHSP investments, structured as mezzanine debt, are secured against seven operational Public-Private Partnership (P3) projects, encompassing around 21,800 housing units across the United States.

This strategic disposal is part of INPP’s capital allocation strategy, which includes a targeted divestment program. The identified FHSP investments were earmarked for disposal following a thorough portfolio assessment.

Proceeds from this transaction will be redirected towards INPP’s ongoing share buyback program and near-term investment commitments¹. As of June 30, 2024, the remaining FHSP investments held by the company were valued at approximately £73 million.

The Board of Directors believes this move will positively impact the discount at which the company’s shares trade relative to their net asset value (NAV), reflecting confidence in the portfolio’s valuation and the benefits of capital reallocation.

Mike Gerrard, Chair of INPP, said: “We are pleased to report that the Company has successfully realised a further c.£30 million from divestment activity. This takes realised proceeds over the last 18 months to over £260 million representing c.10% of the portfolio (by investment at fair value) across digital infrastructure, social infrastructure and energy transmission sectors in the UK and North America. All realisation activity has been in line with, or slightly above, the most recently published valuations”.