HICL Infrastructure Company has completed its previously announced acquisition of an equity interest in the entities that comprise the High Speed 1 (HS1) project in the UK.

The company was advised by InfraRed Capital Partners during the acquisition, which was initially announced in July.

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HICL has also finalised a co-investment in HS1 in partnership with various InfraRed-managed minority collaborators, which has seen the infrastructure company assume 21.8% equity interest in the development.

HICL’s share of consideration for the acquisition amounts to £196m, while the net funding requirement is nearly £140m.

InfraRed Capital Partners Infrastructure director Harry Seekings said: “InfraRed is delighted to have completed the HS1 acquisition on behalf of HICL, and we welcome the co-investors into the project.

“Through co-investment, we are able to develop key relationships with strategically aligned partners in order to facilitate access to larger opportunities for HICL.

"InfraRed is delighted to have completed the HS1 acquisition on behalf of HICL, and we welcome the co-investors into the project."

“This approach allows HICL to manage its portfolio exposure and maintain prudent and responsible portfolio construction for its shareholders.”

HS1 is an operating high-speed rail link in the UK that currently comprises four stations, along with associated infrastructure.

The rail network stretches nearly 109km between London St Pancras International station and the Channel Tunnel, enabling a rapid connection for domestic and international passengers from South East England to multiple European cities via London.

HS1 carried more than 20 million passengers last year.

HICL Infrastructure Company is a long-term investor in operational infrastructure assets, which currently possesses a total portfolio of 116 infrastructure investments.