Partnership UK
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Background Visit Home page Learn more about Partnerships UK View information on PUK Business Sectors View information on PUK Case Studies View Partnerships UK Projects Database Further information on Partnerships UK
PUK Mission
PUK Scope
Background & Governance
Advisory Council
PUK People
PUK Board
PUK Shareholders
PUK Codes of Conduct
Annual Reports
PUK Activities
Engaging with PUK
Statutory Information
Contacting PUK
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Background & Governance

PUK was formed by government in 2000 out of HM Treasury. It bridges the gap between the public and private sectors, with a majority stake (51%) held by the private sector and the remainder retained by government (HM Treasury 45% and Scottish executive 4%).

The non-executive chairman of PUK is Gordon Horsfield. There are 4 executive directors, including chief executive James Stewart, and 7 non-executive directors, including representatives from HM treasury and the shareholder executive. Private shareholders do not have any direct Board memberships.

On its creation in 2000 PUK raised capital of c.45m from its shareholders, largely by way of loan stock. This capital is used and remains available for investment by PUK to support projects, programmes and new business in line with the public sector mission.

PUK reinvests any surpluses in the business. It has had a policy of not paying any dividend to shareholders and, unless there are special circumstances, does not have plans to make distributions in the future. Through their investment shareholders have contributed to the development of an effective PPP market in which they can participate alongside others. Shareholders are paid a fixed coupon on their loan stock.

HM Treasury has established an Advisory Council to oversee the work of Partnerships UK and ensure that it remains on mission. The Council is made up exclusively of members from the public sector and meets at least twice a year. It is chaired by Nick MacPherson, Permanent Secretary of HM Treaury.



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