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    £5bn infrastructure trust merger collapse: risk lessons for project teams

    December 3, 2025|

    Reviewed by Tom Sullivan

    £5bn infrastructure trust merger collapse: risk lessons for project teams

    First reported on New Civil Engineer

    30 Second Briefing

    A proposed £5bn merger between two UK-listed infrastructure investment trusts has collapsed after key shareholders objected to the combined vehicle’s perceived risk profile. Investors were reportedly concerned about increased exposure to higher-risk assets within the trusts’ mixed portfolios of transport, energy and social infrastructure. The failure of the deal may constrain capital available for large, long-duration projects and signals that institutional backers are currently wary of structures concentrating construction and demand risk.

    Technical Brief

    • For similar UK PPP-style schemes, syndication strategies may need to diversify beyond a small trust investor base.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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