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Fund management and overseas drive John Laing
20 April 2011
John Laing’s bread and butter has been in the UK social infrastructure and transport sectors, but it is now looking abroad much more intensively. Gary Lucas, director for international business development, talks to Catherine McGuirk
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John Laing’s reputation as a blue chip in British infrastructure was built on decades of experience building housing, hospitals and transportation, but since it sold its construction business ten years ago, it has evolved into a concessions company a substantial overseas portfolio and assets in a much broader number of sectors.
Laing currently has interests in 74 projects; 54 of which are direct investments. A further 19 are held in the John Laing Infrastructure Fund, which Laing established in 2010. Laing sold the assets as a package to the fund, which was created to give the sponsor access to a new source of equity funding and recycle some of its existing commitments. The listed fund’s initial public offering attracted commitments that exceeded its £270 million ($434 million) target. Laing holds a 23% stake in the fund, but the float attracted significant investment from retail investors, due to the shares’ inflation-indexed...
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