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Deals & Cases
07 Oct 2026

Freeths advises INPP on sale of nine UK PPP projects to InfraRed-managed SMA

"Freeths acted as lead legal adviser to International Public Partnerships Limited (INPP) on the disposal of its interests in nine UK PPP projects (15 schools across four London boroughs under the BSF programme) to an SMA managed by InfraRed Capital Partners. Proceeds are expected to exceed £58 million, representing a premium to the assets’ last published valuation."

Freeths acted as lead legal adviser to International Public Partnerships Limited (INPP) on the disposal of INPP’s interests in nine UK public-private partnership projects to a separately managed account (SMA) managed by InfraRed Capital Partners. The transaction comprised nine UK PPP projects delivering 15 schools across four London boroughs under the Building Schools for the Future (BSF) programme. INPP announced that the proceeds are expected to exceed £58 million and represent a premium to the assets’ last published valuation. Freeths provided strategic advice throughout the disposal process and supported INPP in achieving the outcome as part of its disciplined capital recycling programme. The deal further reinforces Freeths’ position in the PFI and PPP sector, drawing on decades of experience advising investors, funds, contractors and public sector bodies across the full lifecycle of infrastructure assets, including procurement, financing, operational asset management, refinancings, secondary market transactions and expiry. Freeths represented INPP with a team composed by: Partner and Head of Projects James Larmour; Partners Sarah Moore, Richard Lockhart, Claire Boyce and Alex Johnson; Directors Rachel Crosier and Emily Leonard; Managing Associate Nur Alzubeydi; Senior Associate Rebecca Hughes; and Associates Celia Raven and Emily Webb.
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