Freshfields Bruckhaus Deringer and Hogan Lovells have taken lead roles on the £143m sale of 26 private finance initiative (PFI) and public private partnership (PPP) projects by two infrastructure funds managed by Barclays.

Freshfields advised Barclays Infrastructure Fund Management on the sale to HICL Infrastructure Company, which was announced last month (19 December). London finance partner Nick Bliss led the magic circle firm's team, working alongside corporate partner Karen Fountain.

HICL, the first infrastructure investment company to be listed on the London Stock Exchange in 2006, turned to Hogan Lovells for advice on the transaction, with the firm fielding a team led by London infrastructure and project finance partner Philip Brown, who was assisted by associate Thea Connolly.

The acquisition, which was funded by an existing debt facility, increases the number of investments in HICL's portfolio by nearly 30%.

The portfolio includes 10 school projects, eight health projects, five fire and police projects, two roads and a library project – all based in the UK – with Barclays' stakes in each ranging between 25% and 100%.

Hogan Lovells also advised on several other infrastructure deals towards the close of 2011, acting on Bilfinger Berger Global Infrastructure's £212m float and John Laing Infrastructure Fund's £131m open offer and share placing.

Brown said: "The success of these deals demonstrates that investor interest in the public infrastructure market remains strong despite what has been a relatively turbulent year in financial markets."