INPP completes first US investment

(ShareCast News) - International Public Partnership (INPP) has invested approximately $48m (£32m) into a series of fully yielding mezzanine debt instruments acquired from US-based Federal Home Loan Mortgage Corporation.The investment, the firm's first in the US, is underpinned by security over seven operational PPP military housing projects relating to a total of 19 operational military bases in the US comprising approximately 21,800 individual housing units.The FTSE 250 group said military housing is the longest standing sector in the US for public private partnership, with Military Housing Privatization Initiative and schemes attracting capital in excess of $30bn from domestic and international investors since 1996."Military Housing schemes have an established track record in the US and we believe that this opportunity not only provides an attractive return for our shareholders but potentially opens the door to further attractive opportunities in one of the world's largest infrastructure markets," said group chairman Rupert Dorey.INPP shares were up 0.38% to 130.90p at 1000 BST on Monday.