APG, on behalf of its pension fund client ABP, has agreed to acquire an operational portfolio of seven high quality Public-Private Partnership (PPP) assets in the UK, including hospitals, primary care and community health and educational facilities (Seed Portfolio), from HICL Infrastructure PLC, a London-listed infrastructure investment company managed by InfraRed Capital Partners (InfraRed).

The Seed Portfolio will be acquired through a Separately Managed Account (SMA), with ABP as the sole limited partner and InfraRed as manager. Alongside this, APG has formed a partnership framework with HICL, allowing the SMA to pursue additional acquisitions in line with its investment strategy. This transaction enhances ABP’s exposure to stable core infrastructure assets and marks an initial step in its plan to expand investment in social infrastructure.

Closing is expected by 31 December 2025, subject to standard third-party approvals and consents.