UK infrastructure fund backed by NAPF completes first investment

first_imgThe investment was completed in conjunction with the Dalmore Capital Fund II.Michael Ryan, manager of both the Dalmore and PIP vehicles, said the PIP’s inaugural investment built on the firm’s “strong existing relationship” with Interserve.“We believe it demonstrates once again our ability to execute complicated deals and to partner with contractors and facilities managers for mutual benefit,” he said.Jonanne Segars, chief executive of the NAPF, added: “It is great news that the PIP has been able to make this investment into low risk, index-linked investments so quickly after reaching first close.”The acquisition comes a few months after IPE reported that three of the platforms’ 10 founding investors had decided to withdraw their support for the undertaking.The London Pensions Fund Authority and BAE Systems cited displeasure with the platform’s risk/return profile as the reason for pulling out, while the BT Pension Scheme said it desired to continue with its own direct infrastructure investment programme. The UK’s Pension Infrastructure Platform (PIP) has completed its first investment, acquiring part of a nearly 50% stake in a holding company for private finance initiatives (PFIs).The PIP – which in February announced the launch of its first, £260m fund following several years under development by the National Association of Pension Funds (NAPF) and Pension Protection Fund (PPF) – bought part of a 49.9% stake from the pension fund for construction company Interserve.In a statement by Dalmore Capital, manager for the fund, it said that Interserve PFI Holding consisted of 13 assets, including schools, government accommodation and projects overseen by the UK’s Ministry of Defence.While the asking price for the assets was not disclosed, the Interserve pension fund acquired ownership of 19 PFI assets in late 2012, when the sponsor transferred a portfolio worth £55m to address an existing deficit.last_img read more

Ex-Leaf named assistant captain with Trail Smoke Eaters

first_imgThe 18-year-old Wheeldon spent 2010-11 season in the Kootenay International Junior Hockey League with Nelson.Trail broke camp Sunday and now prepares for a handful of exhibition games beginning Tuesday in Chase against the Prince George Spruce Kings.The two teams also play Wednesday in Chase before Trail travels to Merritt to face the Centennials Friday.The only home preseason game for Trail is Saturday, September 1 against Merritt at the Cominco Arena. Game time is 7:30 p.m.Trail opens the 2012-12 BCHL season at 2012 Showcase Tournament September 7-9 at Prospera Centre in Chilliwack against the Cowichan Valley Capitals.Trail also plays Merritt Sunday, September 9 at 2:30 p.m.The 2012 Showcase tournament is a three-day event designed for the league to showcase all of its’ 16 teams in one venue for College and Pro scouts.The Penticton Vees open up defence of the 2012 RBC Cup title in the final of four games on opening day against host Chilliwack in the rematch of last season’s Semi-Final playoff series. The Nelson Daily has learned that former Nelson Leaf winger Adam Wheeldon has been named one of the assistant captains of the Trail Smoke Eaters for the 2012-13 B.C. Hockey League season.Wheeldon, entering his second campaign in the Silver City, is joined by Tyler Berkholtz as two of the three assistant captains on the club.The final assistant captain will be voted on by the players.The news comes after the Smokies announced forward Garrett McMullen as team captain during training camp.During his first season of Tier II Junior A hockey, the 5’10”, 185 Wheeldon scored three goals while adding 10 assists in 47 games.last_img read more

UPDATE: Okanagan sweeps Kootenay Wildcats out of playoffs

first_imgThe hockey season for the Kootenay Wildcats came to an end Saturday in the Central Okanagan.The B.C. Female Midget AAA Hockey squad lost 5-2 to Okanagan Rockets in semi final playoff action Saturday in Kelowna at the Capital News Centre.The Rockets won the best-of-three series 2-0 and now advance to the league final next week in Surrey against the Fraser Valley Fusion.Okanagan won the opening game of the series 2-1 Friday.The Fusion dispatched the Pacific Ravens of Richmond 2-0 in the best-of-three series.Kootenay finished third in the five-team BCFML with a 9-14-5 record.The B.C. Female league was created in 2007 to provide players in the province the opportunity to come together on zone teams to challenge other clubs in the B.C.Kootenay Wildcats consists of players from both the East and West Kootenays.Cats drop close 2-1 decision in semi final to OkanaganOnce again scoring, or a lack of putting the puck into the net, raised its ugly head on the Kootenay Wildcats during Game one of the B.C. Female Midget AAA Hockey semi final series in Kelowna.Host Okanagan Rockets squeaked out a 2-1 victory to take a 1-0 lead in the best-of-three series.Game two is Saturday in Kelowna with Game three, if necessary, Sunday. Cats begin playoff mission Friday in Kelowna against RocketsThe Kootenay Wildcats take to the road Friday for the sunny Okanagan to start the run at the B.C. Female Midget AAA Hockey title.The Cats open the playoffs against second-place Okanagan Rockets at the Rutland West Arena in Kelowna.The best-of-three series continues Saturday with a third game, if necessary, played Sunday morning. Both games are at the Capital News Centre.“We going in to win the series,” said Kootenay captain Erin McLean when asked about the upcoming playoff.“We’ve done pretty good against the Rockets, winning about half of the games so we feel we can win this series and move on in the playoffs.”The Wildcats, 9-15-4, finished the season third, 11 points behind the runner-up Rockets. Kootenay is led by its two netminders Lauren Biggs of Salmo and Morgan Flynn of Castlegar.The two goalies have been outstanding throughout the season, keeping the Cats in every game and time to get an anemic offence going.Trail’s McLean led the offence this season with 12 points while Denomie Vockeroth of Rossland added 11 points and Adrianne Erichsen of Cranbrook, Cori-Anne Huisman of Fernie and Stephane McAuley of Trail each had 10.In the other series, Pacific Ravens of Richmond rallied from a one-game deficit to defeat Prince George Cougars 2-1 in the best-of-three quarterfinal game.Richmond advances to a semi final affair against regular season champ Fraser Valley Fusion beginning Friday in Surrey at the Sport and Leisure Centre.Games two and three, if necessary, will be played at Langley at the Event Centre Saturday and Sunday.The two series winners play for the league championship the following week at the team with the best regular season record.last_img read more