DIF Infrastructure III closed the acquisition of UK infrastructure PFI projects

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DIF Infrastructure III closed the acquisition of UK infrastructure PFI projects

DIF Infrastructure III, the third fund managed by DIFhas completed the acquisition of a portfolio of four UK operational public private partnership (PPP) projects from MBIA UK Insurance Limited.

The portfolio consists of stakes in four UK PFI projects:

- DBFO2 road project - a 30 year, £250 million (US$378.2 million) DBFO PPP road project that reached financial close in 2007 and has been in operation since 2011. The project consists of the design, construction, financing and operation of 42.5 km of new carriageway, and the maintenance and operation of some 80km of existing carriageway in Northern Ireland, UK. DIF-managed funds already own 70% of this project and this additional stake will give DIF control of 95% of the project.

- Ashford social housing project - a 30 year, £25 million (US$37.8 million) social PFI housing project that reached financial close in April 2007. The project consists of the refurbishment, financing and operation of 325 retained authority owned houses and the upgrading of related infrastructure in Kent, UK. DIF Infrastructure III has purchased a 66.67% share in the project.

- Cheshire extra care housing project - a 30 year, £66 million (US$99.8 million) social housing PFI project that reached financial close in October 2007. The project consists of the design, development, financing and operation of 433 new build "extra care facilities" for older people located across five sites in Cheshire, Handforth, Crewe, Middlewich, Ellesmere and Winsford. DIF Infrastructure III has purchased a 66.7% share in the project.

- Grove housing project - a 30 year, £69 million (US$104.4 million) social housing PFI project that reached financial close in September 2003. The project consists of the design, refurbishment and operation of an urban housing estate, consisting of 1,089 dwellings in Manchester, UK. DIF Infrastructure III has purchased a 74.5% share in the project.

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