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Land Securities secures £1.1bn investment

Land Securities' property outsourcing arm Trillium has completed securing investors for its £1.1 billion Trillium Partners Fund.

Trillium, which last month received expressions of interest for a takeover bid, established the fund to enable third party investors to gain exposure to the firm’s PPP contracts.

It has now secured the initial capital of £1.136 billion needed for the fund. Half of it is debt financed and the other half is equity-based.

The company said strong demand for the fund meant that Trillium itself would only retain a 10 per cent stake against the originally stated intention to hold 15 per cent.