Private Equity News & Analysis

Henderson closes second PFI fund(2)

Henderson Equity Partners closes its second PFI fund on €859m, 18 months after closing its first PFI fund.

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The private equity business of Henderson Global Investors, Henderson Equity Partners, has closed its second PFI fund on €859 million (£573.5 million). The firm closed its first PFI fund in October 2005 on €480 million (£330 million).

Guy Pigache and Paul Woodbury are running the fund, which will specialise in the secondary market for operational private finance initiative projects.

The fund has already bought John Laing, a UK manager of public sector infrastructure assets, in a £886.9 million deal last December, after fighting off Alianz, the German insurer.

The fund expects to make about five more investments in private finance initiative projects.

Henderson Equity Partners is the private equity business of Henderson Global Investors and has around £800 million under management. Founded in 1934, London-based Henderson Global Investors has around £63 billion under management.