Semperian PPP Investment Partners Group Limited (“Semperian”) was launched in October 2007, with the initial acquisition of a £1.0bn portfolio of infrastructure assets from Land Securities plc. Semperian provides its investors with access to a large, diverse portfolio of mature PPP infrastructure investments with long term inflation linked returns, matched to investors’ long term liabilities.
Although Semperian was formed in 2007, the group's origins date back to 2001. A brief history of the company can be found in the links below:
Key events in Semperian's history
- Acquired an 80% stake in the University of Edinburgh Student Accommodation.
- Acquired a 50% stake in Fife Hospital.
- Acquired 11.3% stake in Cory Energy.
- Acquired a further 50% stake in Imagile Group.
- Acquired a further 18.5% stake in South Manchester Hospital.
- Acquired 100% stake in Glasgow Royal Infirmary Car Park.
- Acquired a further 20% stake in Wolverhampton Radiology Unit.
- Semperian has successfully handed back a community hospital to the Trust.
- Semperian creates Imagile Group, one of the largest independent Infrastructure and Professional Services Groups in the UK PFI sector.
- Acquired a further 10% stake in a portfolio of 4 schools.
- Acquired 100% stake in Belmarsh West Prison.
- Acquired MAMG, the largest independent UK PFI asset manager.
- 2 Secure Training Centres have reached Concession end and have been handed back to the Authority.
- A further 10% stake in the Government Accommodation project is acquired.
- A further 41% stake in Leicester BSF (Phase 1) is acquired.
- A further 50% stake in Leicester BSF (Phase 2) is acquired.
- Head office relocated at Bristol.
- Eight small schools and health care assets are sold.
- A further 8% stake in University College London Hospital is acquired.
- A further 20% stake in Newcastle Estates Partnership is acquired.
- PIML is sold to Compass Group, with the TUPE of 411 staff originally employed within the PIML business.
- Semperian was converted into a UK registered company, from a Limited Liability Partnership. In addition, all General Partnerships and Advisory Agreements were terminated.
- Semperian owned an interest in 106 PPP assets and SAML directly managed 56 assets within the portfolio.
- Jarvis PPP FM business (“PIML”) is placed in administration. Semperian TUPE 411 members of staff and takes on the management of these contracts directly to ensure service continuity to our clients.
- Trillium Investment Partners was renamed Semperian Investment Partners (“Semperian”), after the acquisition of the Advisory Agreement from Land Securities and the TUPE of 140 members of staff.
- Semperian acquired the residual 16 PPP assets from Land Securities, plus Land Securities residual investment in Semperian.
- Trillium Investment Partners acquires a further 12 new assets from Land Securities, plus five incremental investments.
- Land Securities acquires Secondary Market Infrastructure Fund (“SMIF”), which by this time owned 76 assets and directly employed 89 members of staff, in both the Management and SAML Companies.
- Land Securities established Trillium Investment Partners, an investment vehicle designed to provide access to a large portfolio of mature PPP assets, based predominantly on the SMIF asset portfolio.
- The original TIP portfolio comprised 81 assets, managed via an Advisory Agreement between Land Securities and Trillium Investment Partners.
- SMIF acquired 19 new assets in the year, building the portfolio to 76 assets.
- SAML managed 50 contracts.
- SMIF established a separate, but wholly owned, asset management business "SMIF Asset Management Limited” (“SAML”), to provide efficient stewardship of its investments through direct management of the project SPV companies.
- To facilitate further growth, two additional equity investors were introduced.
- Original leverage buy-out was refinanced, thereby increasing SMIF’s capacity and flexibility.
- SMIF doubled again in value (assets under management), acquiring 25 new assets building a portfolio of 57 assets.
- SAML managed 24 contracts within the SMIF portfolio.
- SMIF made their first independent acquisition.
- SMIF had doubled in value (assets under management), acquiring 8 new assets building a portfolio of 32 assets.
- Secondary Market Infrastructure Fund (“SMIF”) investment vehicle was formed with the acquisition of the 24 assets owned by SMIFF.
- An Independent management team was established, sourcing Partners and staff from ANTS and B&B, who worked on the underlying assets from as early as 1999.
- Secondary Market Infrastructure Fund Facility (“SMIFF”) was formed with the acquisition of 24 assets from Barclays European Infrastructure Fund by Abbey National Treasury Services (“ANTS”) and Babcock & Brown (“B&B”).
- This was the first material secondary market transaction and widely considered the genesis of the PPP Secondary Market.