Under the UK Government's revised PPP policy introduced in 2012-termed 'Private Finance 2', or PF2- the Treasury may provide a minority share of the equity in PF2 projects [#241]. The rationale was to give government better access to project information, including in relation to the financial performance of the project company; allow government to be more involved in strategic decision making; and improve value for money by sharing in the on-going investment returns. A similar structure has been used by a few other governments, such as the Regional Government of Flanders, in Belgium.
However, public equity in a PPP also brings risks for private sector counterparts, and unless carefully managed could raise concerns of conflict of interest. Under the UK's PF2 policy, for example, any equity shareholdings are managed by a unit located in the Treasury separate from the procuring authority.