John Laing Infrastructure Fund (JLIF) has increased its stake in Europe's E18 road and north east England's Cleveland Police Headquarters, the company announced Friday.

The FTSE 250 investment firm said it paid €3.15m for an additional 9.0% interest in E18, the route which runs from Craigavon in Northern Ireland to Saint Petersburg in Russia.

A further 7.5% holding in Middlesbrough's police headquarters was purchased for a consideration of £0.45m.

The transactions bring JLIF's total ownership of each asset up to 50%.

"We are delighted to announce the acquisition of additional stakes in these high quality operational assets," Fund Manager, Andrew Charlesworth, said.

"Today's announcement reflects the increasing number of stakes and assets in the JLIF portfolio sourced from the secondary market. JLIF has now acquired 10 such investments, and in an active secondary market, continues to seek new opportunities for acquisition from both John Laing and the wider market."

The news follows reports the organisation has put 16 jobs at risk as it reviews its approach to public private partnerships.

The firm has withdrawn from bidding for new joint ventures with councils, according to building.co.uk on Friday.

JLIF said in a statement it was concerned about a lack of "social infrastructure opportunities in the foreseeable future".

The company cited in particular the Local Asset Backed Vehicle model, saying it had "not gained sufficient traction" so it will be ceasing to bid for any further opportunities.

RD

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