REG - GCP Infra Inv Ltd - Investor Report at 31 December 2025

GCP Infrastructure InvestmentsAnnouncement

13/02/2026 07:00

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RNS Number : 8312S  GCP Infrastructure Investments Ltd  13 February 2026

GCP Infrastructure Investments Limited

("GCP Infra" or the "Company")

LEI 213800W64MNATSIV5Z47

 

Quarterly investor update

 

13 February 2026

 

GCP Infra is pleased to announce the publication of its investor report, which
is available at www.gcpinfra.co.uk (http://www.gcpinfra.co.uk) .

 

At 31 December 2025:

 

·    The net asset value was, as previously announced, 100.27 pence per
ordinary share;

·    The Company was exposed to a diversified and partially inflation
protected portfolio of 47 investments with an unaudited valuation of £853.8
million; and

·    The portfolio had a weight-adjusted average annualised yield of 8.0%,
principal outstanding of £907.6 million and an average life of 11 years.

 

Capital allocation

 

The Board reconfirms its commitment to the Company's capital allocation policy
set out in the 2024 Annual Report and Accounts, continuing to prioritise
repayment of leverage, as well as reducing equity-like exposures and exposures
in certain sectors, whilst also facilitating the return of £50 million of
capital to shareholders. At 31 December 2025, the Company had £24 million (30
September 2025: £20 million) outstanding under its revolving credit
arrangements, representing a net debt position of c. £14 million (30
September 2025: c. £8 million) which compares to the Company's unaudited NAV
of £838 million (30 September 2025: £849 million).

 

The Company announced that certain borrowers to whom the Company has extended
loans have exchanged contracts for the disposal of properties that are leased
to registered providers for the provision of supported social housing. The
proceeds of such disposals, if completed, will repay £47.5 million of loans
and, after considering deferred amounts, will generate day one cash proceeds
of £43 million. This is materially in line with the valuation of such
investments incorporated into the Company's net asset value as at both 30
September 2025 and 31 December 2025. Completion is subject to finalisation of
the purchaser's lending arrangements which is expected prior to 31 March 2026.

 

Further supporting the capital allocation policy, the Company bought back
1,735,000 ordinary shares in the quarter, contributing a 0.06 pence per
ordinary share increase to NAV at 31 December 2025. In aggregate, the Company
has purchased c. £24 million of shares since announcing the capital
allocation policy.

 

The Company continues to progress transactions to dispose of at least £150
million of assets in those sectors targeted in the capital allocation policy.
Such transactions would enable the Company to complete the capital allocation
policy objectives of returning at least £50 million to shareholders and
reducing the Company's outstanding debt to nil. On completion, the
above-mentioned expected disposals and repayment will take the running total
of disposals and cash proceeds under the policy to c. £128 million, and the
revolving credit facility is expected to be repaid in full. Further
announcements will be made in due course.

 

Portfolio

 

The Company is pleased with the uptake by shareholders of its recently
published investor portal (the "Portal"), providing shareholders with granular
information on the Company's investment portfolio. The Portal has been updated
to incorporate the latest quarterly valuation. Any shareholder who would like
access to the Portal should e-mail carapace@graviscapital.com
(mailto:carapace@graviscapital.com) .

 

For further information, please contact:

 

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

 Philip Kent

 Robyn MacHugh

 Cameron Gardner

 RBC Capital Markets                      +44 (0)20 7653 4000

 Matthew Coakes

 Elizabeth Evans

 Sahil Suleman

 Burson Buchanan                          +44 (0)20 7466 5000

 Helen Tarbet

 Henry Wilson

 Nick Croysdill

 

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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