DIF Capital Partners (DIF) has announced divestment of its 45% ownership stake in the German University Hospital Schleswig Holstein’s (UKSH) PPP project to Invesis.

The divestment was made through DIF’s fund DIF Infrastructure III.

The latest move brings Invesis’ shareholding in the PPP project to 95%.   

Invesis CEO Kieron Meade said: “Invesis’s mission is that every long-term relationship we enter begins with a sustainable future in mind.

“This transaction emphasises the long-term commitment of Invesis to both the healthcare sector and to our projects and partners, increasing our shareholding on projects where the opportunity arises and facilitating our mission to build lasting legacies for future generations.”

DIF along with current co-shareholders Invesis and VAMED Deutschland Holding invested in the UKSH PPP project in 2014.

According to the company, the opening of the healthcare facilities in Lübeck and Kiel in 2019 highlights the parties’ efforts in delivering key infrastructure projects.

While Herbert Smith Freehills served as legal advisor, Reed Smith provided tax advice to DIF to facilitate the divestment.

The UKSH PPP deals with construction, renovation as well as maintenance of its facilities in Kiel and Lübeck, Germany.  

At present, the UKSH features over 2,700 beds and has nearly 14,000 employees working in its 89 clinics and institutes. 

Invesis is jointly owned by construction and civil engineering company Royal BAM Group and pension fund manager PGGM.

Headquartered in the Netherlands, Invesis has a portfolio of 50 projects valued at €12bn.

Meanwhile, DIF is an independent investment manager with a team of over 190 professionals based in 11 offices across Amsterdam, Frankfurt, Helsinki, London among other places.