Firm will use London float to invest in PPP portfolio

German services group Bilfinger Berger has announced plans to raise 拢245m via a London float, to invest in a portfolio of up to 19 public-private partnership projects.

The chosen schemes include road and social infrastructure projects across the UK, Europe, Canada and Australia, and are relatively low-risk from an investor perspective.

Spin-off company Bilfinger Berger Global Infrastructure (BBGI) will publish the fund鈥檚 prospectus in October, with a listing to follow in November 2011.

锘緽BGI will be chaired by David Richardson, former financial director of Whitbread, and will operate as a closed-end investment company incorporated in Luxembourg.

The company has said it will target an initial dividend yield of 6%.

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