Electra invests £20m in Pine
Electra Private Equity has injected a further £20m into Pine Unit Trust, a Jersey-based property trust used to build a portfolio of freehold properties in the UK education sector.
The investment will be used to acquire the freehold properties of two Priory Group-operated special-needs education schools in Hampshire.
Last year, Electra made a cash injection in former Pine-subsidiary Treetops Nurseries, to acquire a fellow nursery school company in the south-east of England.
At the end of Q1 2015, Electra's investment in Pine was valued at £26m.
Company
Pine Unit Trust is a Jersey property unit trust founded in 2005 as a platform to build a freehold investment property portfolio focused on the UK's nursery school sector.
The company owns a range of properties across the UK that it leases to third-party operators.
People
Alex Fortescue is the chief investment partner at Electra, while Nigel Elsley and Tom Stenhouse are responsible for the investment in Pine.
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