Star Capital is reviewing the future of its investment fund in private finance initiative projects, the Secondary Market Infrastructure Fund (SMIF). NM Rothschild has been appointed to conduct the review, which could lead to a sale. SMIF's PFI investments are mainly concentrated in the health and education sector, and are believed to be worth £425m. The fund has an underlying asset base of £3bn and a sale could fetch over £600m. Interest is predicted to come from a range of sources, including private equity groups, infrastructure funds, banks, pension funds and life assurers.