The deal sees Balfour Beatty Infrastructure Partners LLP and its associated fund sold to investment management firm Wafra Investment Advisory Group.
BBIP was set up in November 2010 as an independently managed infrastructure management business focusing on secondary opportunities and is run at arm’s length to Balfour Beatty’s Investments portfolio.
Leo Quinn, Chief Executive Balfour Beatty said: “Our exit from BBIP and sale of the Fund interest further simplifies the group and maintains our existing balance sheet strength.
“Exiting the infrastructure fund management market will allow our core infrastructure investments business to focus entirely on its highly successful primary investments portfolio which also offers further downstream opportunities for the Balfour Beatty Group”.