International Public Partnerships

FHSP partial realisation with £30m exit proceeds

2 October 2024

International Public Partnerships (INPP) has announced the partial disposal of its Public-Private Partnerships (P3) investment providing family housing for US service personnel. The £30m proceeds take INPP’s realisation proceeds over the last 18 months to c £260m (or c 10% of INPP’s portfolio value), with all exits in line with or slightly above previous carrying values. The sale proceeds will be used to support the recently increased and significantly accretive share buyback programme and towards funding its existing £35m near-term investment commitments across the transport, education and digital sectors (which INPP’s manager expects to be drawn until end-2025). MORE »

Attractive, lower-risk returns

24 September 2024

International Public Partnerships’ (INPP’s) portfolio continues to deliver consistent and predictable returns for investors, while providing environmental and social benefits for the individuals and communities that are served by its assets. INPP shares offer an attractive yield and the DPS is now in its 17th successive year of growth, with visibility for at least another 20 years. Continuing efforts to narrow the discount to NAV have gained traction, with both realisations and the share repurchase programme stepped up. However, discounts are sector-wide and a greater appreciation of the quality of INPP’s cash flows, a decline in interest rates and the prospects for accretive reinvestment may prove more potent factors in a re-rating. MORE »

Consistently and responsibly delivering

24 April 2024

International Public Partnerships’ (INPP’s) FY23 results show that it continues to deliver consistent and predictable returns for investors, while delivering environmental and social benefits for the individuals and communities that are served by its assets. Despite this strong performance and a substantial need for private infrastructure funding, the macroeconomic environment has weighed on INPP’s share price, in common with the wider sector. Regardless, attractive returns are available from the existing portfolio with opportunities for further enhancement. MORE »

Capital markets day

6 March 2024

INPP recently held a strategy day. This provided a detailed overview of its business and the outlook for a continuation of the strong, predictable, inflation-linked returns that have been generated since the company listed in 2006. INPP’s operational and financial performance is at odds with its discount to NAV and the company has a clear strategy to address this. No new financial details were provided ahead of INPP’s 2023 results, due to be published on 28 March. MORE »