Land Securities, the UK's largest property company, has raised more than £1bn for its infrastructure fund despite turmoil in the financial markets.

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Questor: Hold Land Securities

The company said it had successfully closed the fund-raising for its Trillium PPP Investment Partners vehicle which aims to invest in government and private infrastructure developments across the UK. Land had intended to own 15pc of the fund but because of an additional commitment of £213m reduced its holding to 10pc. The total value of the fund stands at £1.14bn.

Half the initial capital of Trillium Partners is financed by debt and half by equity. Investors include Uberior, a property investment vehicle owned by HBOS, the pension fund for public sector workers in the Australian state of Victoria, Bank of Ireland funds, Transport for London Pension Fund, Lloyds TSB, London Pensions Fund Authority and Daily Mail & General Trust pension funds. Lloyds TSB and HBOS have provided the debt.

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Posted by dcjaya at March 21, 2008 6:09 PM