In the largest of a series of fundraisings and acquisitions for John Laing Infrastructure Fund (JLIF) Nabarro has advised on a share issue and prospectus which is expected to raise up to £240m. This will allow the FTSE 250 international investment company to refinance its bank facility and acquire an additional portfolio of three PPP projects from John Laing Group and John Laing Pension Trust.

The new PPP portfolio has been independently valued at £103m and includes shareholdings in school and hospital projects in the UK and Canada. After the capital raise and acquisition JLIF will have a portfolio of 52 PPP projects worth an approximate £800m in line with its strategy of buying low risk, high quality assets to deliver a stable and secure income stream.

The multi-disciplinary Nabarro Infrastructure team was led by Corporate partner Kristy Duane and included Projects and client partner Robin Baillie on the acquisitions and Financial Regulatory partner Adrian Brown on complex, non-EU AIFMD-related advice.

The firm's experience in infrastructure, which is one of its six key sectors of strategic focus, is highlighted by its ongoing work with JLIF. The deal also demonstrates that investors are increasingly serious about opportunities in both UK and international infrastructure and PPP projects.

Commenting on the deal, Kristy Duane, partner at Nabarro, said:

"Our cross-disciplinary Infrastructure team continues to provide all round legal support to JLIF which is proving to be one of the most active funds in the sector since launching in 2010. Being able to help our clients grow in line with their strategic goals, as we have done in this case, is one of the most rewarding aspects of our role."