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Consortium including Equitix Funds named as preferred bidder to acquire HS1 rail link

14 Jul 2017

A consortium advised by Equitix and InfraRed has been named as preferred bidder to acquire High Speed 1 (“HS 1”) from Borealis Infrastructure and Ontario Teachers’ Pension Plan.  Equitix Funds and HICL Infrastructure Company Limited will each acquire an effective 35 per cent interest in HS1, with the balance being taken on by South Korea’s National Pension Service. 

The HS1 concession runs to 2040 and has an enterprise value of over £3 billion.  HS 1 includes the iconic London St Pancras train station and consists of a 109 km high speed rail line connecting London to a high speed commuter service throughout Kent and to European cities via the Channel Tunnel.

Hugh Crossley, Equitix’s Chief Investment Officer, said “Equitix is delighted to be part of HS 1, an essential part of UK core infrastructure.  The Equitix Funds expect to hold the investment for the full duration of the concession, which aligns with Equitix’s investment strategy to manage long term contractual cash flows for our investors.”