Primary Funds

Innisfree currently manages one primary fund, having successfully exited from its first two primary funds. These are principally involved in bidding for and investing in PPP and PFI projects from their commencement. Generally primary funds take the early stage risks associated with bidding and developing the projects through to their operating stage. A realisation of each investment or fund portfolio will be sought during the life of the fund providing the opportunity to investors for returns by way of income and capital gains.

Innisfree Primary Funds include:

• £85m 1996 Fund I, fully committed in 1999; fully exited March 2005;

• £150m 1999 Fund II, fully committed in 2002; fully exited April 2006;

• £360m 2004 Fund III, which is open for investment.

Secondary Funds

Innisfree manages three secondary funds. Secondary Funds are long term holders of PPP and PFI projects which have typically reached their operating stage. Returns to investors are principally by way of cash generated by the projects during the remainder of their concession lives.

Innisfree Secondary Funds include:

• £225m 2004 Fund. This is a joint venture with M&G Investment Management Limited. It principally holds Innisfree Primary Fund I investments for the long term.

• £350m 2006 Fund. This is a continuation fund established to hold Innisfree Primary Fund II investments for the long term.

• £600.5m 2008 Fund, which is open for new investments.

Location



		Primary Funds Innisfree currently manages one primary fund, having successfully exited from its first two primary funds. These are principally involved in bidding for and investing in PPP and PFI projects from their commencement. Generally primary funds take the early stage risks associated with bidding and developing the projects through to their operating stage. A realisation of each investment or fund portfolio will be sought during the life of the fund providing the opportunity to investors for returns by way of income and capital gains. Innisfree Primary Funds include: • £85m 1996 Fund I, fully committed in 1999; fully exited March 2005; • £150m 1999 Fund II, fully committed in 2002; fully exited April 2006; • £360m 2004 Fund III, which is open for investment. Secondary Funds Innisfree manages three secondary funds. Secondary Funds are long term holders of PPP and PFI projects which have typically reached their operating stage. Returns to investors are principally by way of cash generated by the projects during the remainder of their concession lives. Innisfree Secondary Funds include: • £225m 2004 Fund. This is a joint venture with M&G Investment Management Limited. It principally holds Innisfree Primary Fund I investments for the long term. • £350m 2006 Fund. This is a continuation fund established to hold Innisfree Primary Fund II investments for the long term. • £600.5m 2008 Fund, which is open for new investments. Investors Type Location