HICL Infrastructure

HICL Infrastructure PLC is a London-listed, FTSE 250 closed‑end investment company focused on core infrastructure. Established in 2006 as HSBC Infrastructure Company and now managed by InfraRed Capital Partners as investment manager and AIFM, HICL was the first infrastructure investment company to list on the London Stock Exchange. Its objective is to deliver sustainable income and capital growth from a diversified portfolio of predominantly operational infrastructure assets that generate stable, inflation-linked cash flows and are positioned at the lower end of the infrastructure risk spectrum. The company invests in essential real assets with strong social foundations, including healthcare and education facilities, transport links such as roads, motorways and high‑speed rail, utilities and water assets, social infrastructure, and communications networks including telecom towers and fibre. The portfolio comprises over 100 core infrastructure investments, primarily in the UK with additional exposure to Europe, North America, Australia and New Zealand. Notable holdings highlighted by the company and its disclosures include Affinity Water, the A63 Motorway in France, High Speed 1/London St Pancras High Speed, the Blankenburg Tunnel in the Netherlands, Fortysouth’s New Zealand tower network, the Texas Nevada Transmission electricity system, Altitude Infra, major UK hospitals, schools portfolios and offshore transmission assets such as the Hornsea II OFTO. HICL pursues an active asset management and capital allocation strategy, combining incremental capex on growth assets, selective follow‑on investments and incremental stakes, with accretive disposals and share buybacks. The business model is designed to be self‑funding, using resilient cash generation and capital recycling rather than relying on frequent equity issuance, while supporting a progressive dividend and long‑term NAV accretion. Its assets are used by over 35 million people, including extensive healthcare capacity, education places, transport corridors, renewable electricity connections and high‑speed broadband coverage.