REG - GCP Infra Inv Ltd - Investor Report at 31 December 2023

GCP Infrastructure InvestmentsAnnouncement

02/02/2024 07:00

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RNS Number : 7716B  GCP Infrastructure Investments Ltd  02 February 2024

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
(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
(https://www.graviscapital.com/funds/gcp-infra/literature) .

 

For further information, please contact:

 

 Gravis Capital Management Limited             +44 (0)20 3405 8500

 Philip Kent

 Ed Simpson

 Max Gilbert

 RBC Capital Markets                           +44 (0)20 7653 4000

 Matthew Coakes

 Elizabeth Evans

 Stifel Nicolaus Europe Limited                +44 (0)20 7710 7600

 Edward Gibson-Watt

 Jonathan Wilkes-Green

 Buchanan/Quill                                +44 (0)20 7466 5000

 Helen Tarbet

 Sarah Gibbons-Cook

 Henry Wilson

 

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.

 

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