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«Land Securities Group PLC has today announced the successful closing of Trillium PPP Investment Partners (Trillium Partners), the £1.136 billion joint venture established to enable third party investors to gain exposure to Land Securities Trillium’s Public Private Partnership contracts (including its Public Finance Initiative work).
Trillium Partners has been established with an initial capital of £1.136 billion of which half is debt financed and half equity. The strong demand has meant that Land Securities Trillium will only retain a 10% stake against the originally stated intention to hold 15%. Equity partners are Halifax Bank of Scotland plc through its wholly owned subsidiary, Uberior Infrastructure Investments, Victorian Funds Management Corporation of Australia, funds from Bank of Ireland, Transport for London Pension Fund, Lloyds TSB, London Pensions Fund Authority and pension funds operated by Daily Mail General Trust plc. Trillium Partners is the largest investment vehicle of its kind focused on PPP contracts and aims to grow progressively over the next five years to an invested value of nearly £2 billion through the acquisition of mature operational PPP assets. Commenting on the closing of Trillium Partners, Land Securities’ Chief Executive Francis Salway said: “The successful closing of Trillium Partners on time and in line with expectations is a tremendous achievement. This marks an extremely encouraging start for Trillium Partners which will acquire projects from Land Securities Trillium and look to growon the back of its financial strength, the expertise of the Trillium management team and the growing opportunities that we continue to see in the Public Private Partnership market.”
Land Securities Group PLC
• Land Securities is the UK’s leading Real Estate Investment Trust with a national portfolio of commercial property worth over £14 billion. Our investment portfolio has around 60 retail parks and shopping centres including Birmingham’s Bullring centre and Exeter’s award-winning Princesshay site.
• Half our portfolio is in London, where we own many landmark buildings such as the Piccadilly Lights and Westminster City Hall and are developing some of the capital’s most innovative mixed-use schemes, such as Cardinal Place, Victoria and New Street Square in mid-town.
• Land Securities’ multi billion pound development programme is transforming regional city centres including Bristol, Cardiff, Glasgow and Leeds, key sites in Central London and delivering long-term, large-scale regeneration projects in the South East.
• Land Securities is the principal name in property outsourcing and partnerships through Land Securities Trillium, which is one of the most established and innovative names in property outsourcing. We focus on understanding our customers' businesses and property requirements and meeting them through excellent service and innovation. We manage and provide services to numerous commercial properties nationwide, for a growing number of companies and government departments3 (CS della Società).
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