Macquarie Asset Management, on behalf of investors in its Macquarie Inflation Linked Income Fund, has provided approximately £33 million in long-term financing to enable the upgrade and expansion of three healthcare facilities for NHS Trusts across the Midlands.
The projects financed include the refurbishment and further development of administration, communal and retail spaces at the Princess Royal Hospital in Telford and Warwick Hospital. The financing also enables the development of a new multi-storey carpark with 875-spaces at the Royal Derby Hospital. The projects will help enhance the accessibility and quality of facilities for each hospital's patients, visitors, and staff.
The projects are at different stages of development and will be financed through a combination of development finance and forward funding agreements with specialist project developer Noviniti. To meet the bespoke needs of the respective hospitals, Macquarie Asset Management has provided a tailored approach and alternative financing solutions for each project. This approach has provided flexibility and operational freedom, while unlocking capital that can support wider development across the three sites.
Hugo James, Managing Director at Macquarie Asset Management, said: "These hospitals in Telford, Warwick and Derby are providing critical health services to a combined population of around 1.4 million people across the Midlands. We are very proud to help finance their expansion and modernisation on behalf of our investors, including LGPS Central - using local government pension scheme savings from the Midlands to enhance infrastructure for the region."
Macquarie Asset Management's Private Credit team has provided more than £7.9 billion in financing to UK infrastructure and other sectors, including transport, utilities, renewables and social infrastructure, since 2012.
