GCP
Infrastructure Investments Limited
("GCP Infra"
or the "Company")
LEI
213800W64MNATSIV5Z47
Quarterly investor
update
2 February
2024
GCP Infra is pleased to announce the
publication of its investor report, which is available at
https://www.graviscapital.com/funds/gcp-infra/literature.
At 31 December 2023:
·
The net asset value was, as previously announced,
109.84 pence per ordinary share;
·
The Company was exposed to a diversified and
partially inflation protected portfolio of 51 investments with an
unaudited valuation of £1.0 billion; and
·
The portfolio had a weight-adjusted average
annualised yield of 7.9%, principal outstanding of £1.0 billion and
an average life of ten years.
Capital allocation
In the Company's annual report, the
Board reconfirmed the intended capital allocation policy for the
forthcoming year:
·
Prioritise the reduction of leverage whilst
interest rates remain high, by using capital proceeds from disposal
and refinances to repay the RCF;
·
Buy back the Company's shares while they remain an
attractive investment opportunity and/or otherwise return capital
to shareholders (At 31 December 2023, the Company had bought back
16,985,019 shares);
·
Improve the risk adjusted return of the existing
portfolio by reducing equity risks as well
as exposures to the social housing sector.
Annual results
On 13 December 2023, the Company
published its audited annual results for the year ended 30
September 2023. The full annual report and financial statements can
be accessed via the Company's website: https://www.graviscapital.com/funds/gcp-infra/literature.
For further information, please
contact:
Gravis Capital Management Limited
Philip Kent
Ed Simpson
Max Gilbert
|
+44 (0)20
3405 8500
|
RBC Capital Markets
Matthew Coakes
Elizabeth Evans
|
+44 (0)20
7653 4000
|
Stifel Nicolaus Europe Limited
Edward Gibson-Watt
Jonathan Wilkes-Green
|
+44 (0)20
7710 7600
|
Buchanan/Quill
Helen Tarbet
Sarah Gibbons-Cook
Henry Wilson
|
+44 (0)20
7466 5000
|
Notes to the Editor
About GCP Infra
GCP Infra is a closed-ended
investment company and FTSE-250 constituent, its shares are traded
on the main market of the London Stock Exchange. The Company's
objective is to provide shareholders with regular, sustained,
long-term distributions and to preserve capital over the long term
by generating exposure to UK infrastructure debt and related and/or
similar assets.
The Company primarily targets
investments in infrastructure projects with long term, public
sector-backed, availability-based revenues. Where possible,
investments are structured to benefit from partial inflation
protection. GCP Infra is advised by Gravis Capital Management
Limited.
GCP Infra has been awarded
with the London Stock Exchange's Green Economy
Mark in recognition of its contribution to positive environmental
outcomes.