Hume Capital, a wealth and asset manager, has struck a deal to work with Peterborough council on a new infrastructure fund.
Hume is seeking to raise £130 million for the Peterborough Infrastructure fund, which will be used to redevelop Peterborough’s city centre.
‘There has been a chronic lack of investment in infrastructure, so people need to think outside the box,’ Hume chief executive Nitin Parekh told Wealth Manager.
The fund is targeting an ‘above inflation return’ for investors, with an emphasis on yield.
According to Hume, this is the first time a council in the UK has partnered with an investment firm in this manner.
Parekh confirmed that Hume was also in discussions with a number of other local authorities about establishing similar funds.