Owner

Asset

No of PPP

Sold to

% share stake

Price paid £m

Source

2011

Barclays Infrastructure Funds Management Ltd

A249 Stockbury to Sheerness, Kent, A92 Claymore Roads, Barking & Dagenham Schools, Boldon School, Croydon School, Derby Schools, Doncaster Schools, Manchester School, Newport Schools, Rhondda Cynon Taf Schools, Doncaster Mental Health, Ealing Care Homes, Glasgow ACAD, Lewisham Hospital, Newton Abbot Hospital, Nuffield Hospital, Oxford Churchill Oncology, Willesden Hospital, Dorset Fire & Rescue, Dorset Police, Medway Police, Swindon Police, Tyne & Wear Fire Stations, Oldham Library, plus Rish Grouped Schools and Cork School of Music

26

HICL Infrastructure Company

25.0 to 100.0

143.4

HICL RNS 20/12/2011

2009

3i Group plc

3i Infrastructure Fund - 77m shares sold reducing 3i holding to 33.3%

n/a

Placed in market

9.5

60.8

3i Press 19/2/2009

Babcock Brown

Babcock Brown Public Partnerships

50

Amber Infrastructure and International Public Partnerships

100.0

n/a

Project Finance June 2009

Telereal

Sells 10% equity stake in Trillium - renamed Semperian

108

Victorian Funds Management Corporation (Australia) and Transport for London Pension Fund (now has 25.8% stake)

10.0

n/a

Property Week 30/1/2009

Land Securities

Trillium - including 108 PPP projects

108

Telereal

100.0

750.0

Land Securities RN 8/1/2009

Infrastructure Investors LP - Barclays acquire Societe Generale (31.7%), 3i (31.7%) and Fleming Family & Partners (4.9%) stakes

84 PPP projects

84

Barclay Integrated Infrastructure Fund

68.3

558.6

Barclays Capital Press 9/1/2009, Financial News 13/1/2009 3i Infrastructure plc AR 2009 p7 and 8. Private Equity News 12/1/2009.

Macquarie Communications Infrastructure Group

Airwave (50.0%) - national police and emergency communications, plus other assets Arqiva (48%) and Broadcast Australia (100%)

1

Canada Pension Plan Investment Board

100.0

733.0

CPPIB Press 30/3/2009

2008

Land Securities plc

Land Securities launches Trillium Investment Partners, a PPP Joint Venture in March 2008 with £1.1bn capital - equity partners HBOS (Uberior Infrastructure), Victorian Funds Management Corporation (Australia), Bank of Ireland, Transport for London Pension Fund, Lioyds TSB, London Pension Fund Authority and Daily Mail

100 est

Trillium Investment Partners (Land Securities retains 10%)

n/a

n/a

Land Securities Press 18/3/2008

Halifax Bank of Scotland

PFI projects and one infrastructure fund investment. Includes schools in Newcastle, Edinburgh, Aberdeenshire, Lancashire, Fife: housing in Leeds, Camden & Islington; Various hospitals, health centres and police stations, plus a 20.0% stake in Trillium PPP Investment Partners Limited with portfolio of over 80 projects.

47

Pension funds of 4 'well known UK companies'

49.9 (HBOS retains 50.1)

217.1 Fund valued at 434.3

McGrigors Law Press 10/12/2008, Times 7/12/2008 Investing in Infrastructure, PEI,p223-230

2007

Mill Group

Investors in the Community Ltd (formed by Mill Group and Land Securities in 2005 to bid for BSF) £650m portfolio of 17 primary and secondary schools & 22 local authority and community health facilities.

16

Trillium (Land Securities)

50% (50% when joint venture formed in 2005)

7.4

Land Securities Press 1/3/2007

PFI Infrastructure Company

Eat Ayrshire Schools (20.0), Midlothian Primary Schools (50.0), Argyll & Bute Schools (50.0), Stobhill & Victoria Hospitals, Glasgow (25.0)

22

Infrastructure Investors LP (Barclays, Societe Generale and 3i)

100.0

156.0 (May) valued at 104.0 at end of 2006

Quayle Munro Holdings plc had 1.2m shares in PFI Co at cost of £2m and received £3.7m from Infrastructure Investors (QM Press 2006)

Star Capital Partners, Halifax Bank of Scotland, AMP Capital Investors

Secondary Market Infrastructure Fund PPP projects

79

Land Securities Group plc

100.0

927.0 (527.0m cash & 400.m net debt)

STAR Capital Partners (www.star-capital.com accessed 20/8/2008)

2006

HSBC Infrastructure Ltd and HSBC Infrastructure Fund

Barnet, Bishop Auckland, Central Middlesex and West Middlesex & Blackburn Hospitals; Fife Schools; Colchester Garrison; Health & Safety Labs, Buxton; Defence Sixth Form College; Sussex Custodial Centre; MoD Helicopter Training Centre; Home Office Headquarters; Dutch High Speed Rail Line.

15

HSBC Infrastructure Company (HICL). PFI assets transferred to new company listed on London Stock Exchange, registered in Guernsey. £250m share issue.

100.0

250.0

HICL Press 31/3/2006 HICL AR 2007 p36 and 42

2005

Infrastructure Investors LP (Barclays, Societe Generale and 3i)

Equity shareholding

31

3i Group

33.3

150.0

3i Group Press 21/6/2005 3i Group AR 2006 p28 Times 21/6/2005

2004

Quayle Munro PFI Fund Limited Partnership and Bank of Scotland

MoD Bannockburn Family Quarters (98%), James Watt College, North Ayrshire (90%), Larkfield Hospital, Argyll (90%), Staffordshire Street Lighting (40%), Castle Hill Centre, Bolton (80%), Sailsbury Hospital (40%), Edinburgh Schools (10%), Forfar Community Hospital (40%) Lochgilphead Community Hospital (40%), Aberdeenshire Schools (20%) Falkirk Schools, Tiverton Community Hospital (40%), Chester-le-Street Community Hospital (20%) Ingleby Barwick Schools, Stockton (20%

14

PFI Infrastructure Company

100.0

21.7

PFI Infrastructure Company Interim Statement 2004 Quale Munro AR 2004

2003

Grosvenor House Group plc

Noble PFI Equity Fund

5 est

n/a

12.5

4.0

Dundas & Wilson, News January 2003

Babcock Brown and Abbey National

Secondary Market Infrastructure Fund formed in 2001 with 23 projects valued at £120m

23

Star Capital Partners, Bank of Scotland and AMP Capital Investors

100.0

120.0

Star Capital Partners News 18 December 2003, Financial News, 5/5/2003, Public Private Finance, July 2006

Total 17

729

5,126.6 (estimate based on data for 12 transactions)