Investments
“Our portfolios are carefully constructed to provide diversification and superior risk adjusted returns for our investors. By combining our focus on investing in mid-sized infrastructure businesses with an active approach to asset oversight, we are able to generate great outcomes for all stakeholders”
Iain Macleod, Managing Partner
We possess deep in-house expertise having successfully invested across a broad range of infrastructure sectors including Transport, Utilities, Telecoms, Energy & Environment and Social Infrastructure (view).
During our ownership, we aim to support high quality management teams in our portfolio companies to improve both operational and financial performance. Our responsible investment approach seeks to enhance the quality and nature of infrastructure service provision for all stakeholders.
A summary of our fund investments can be found below.
Alliance Medical Group is a market leading provider of complex diagnostic imaging, molecular imaging and radiopharmacy services operating in its core markets of the UK, Italy and Ireland.
Arcadia is the owner of three development-stage solar projects in Spain, located in Carmona, near Seville.
Lender to Arqiva, a British telecommunications company which provides infrastructure, broadcast transmission and smart meter facilities in the UK.
Beckton Energy is a combined heat and power plant which can be fuelled by a wide range of fuel feedstocks including cooking oil, tallow, rapeseed oil and other waste oils. Beckton Energy is based in East London.
BornFiber is a telecoms network owner and operator headquartered on the Danish island of Bornholm in the Baltic Sea.
Bristol Water is the regulated monopoly provider of water only services in Bristol, England.
Capstone Infrastructure is an independent power producer headquartered in Toronto, which develops, owns and operates renewable generation assets in North America.
CCT is a container port terminal business located in Moerdijk and Alphen aan den Rijn in the Netherlands, which handles shortsea container services to/from the UK, Norway and Portugal.
Choice Care is a leading UK specialist care provider offering essential residential and supported living services to adults with learning disabilities and mental health conditions.
CIRQLR Group owns interests in UK based businesses which process, treat and recycle commercial and industrial waste.
CLH owns and operates the Spanish refined oil pipeline network and provides refined oil storage facilities in the country.
ConRAC is a portfolio of rent-a-car facilities across the USA that consolidate airport rent-a-car companies in a single location, typically conveniently located adjacent to an airport terminal.
CTI is a partnership with Royal Caribbean Group to develop, own and manage cruise terminals at strategic destinations and initially includes the Cruise Terminal A in Miami, USA and cruise terminal projects in Italy, Spain and the Caribbean.
Dobson Fiber is an enterprise and residential telecommunications company based in Oklahoma, USA.
Eco Eridania is a market leading Italian integrated waste collection, transportation, treatment and disposal business.
EGEA is a leading multi-utility company located in Alba, northwest Italy.
Enoé is a fully integrated developer and operator of rooftop and ground-mounted solar photovoltaic projects headquartered in Marseille, France.
firmus owns a regulated gas distribution and gas supply businesses in Northern Ireland.
GMP operates deep sea container terminals in the port of Le Havre, France.
Green Recovery Projects owns interests in energy-from-waste facilities across the UK.
GridLink is the development company for an electricity transmission interconnector between the UK and France.
H2air is a French independent power producer focused on the development and operation of wind and solar energy projects.
Hannover Airport is an airport located in Hannover, Germany which serves scheduled and charter passenger and cargo flights.
Iowa Interstate Railroad is a Class II regional freight railroad headquartered in Cedar Rapids, Iowa, USA.
Manicargas owns interests in container and solid bulk/general cargo terminals in Leixões, Portugal.
The Meinhardt Group is a leading integrated waste management company in the Rhine-Main region of Germany.
Mercurius Health provides radiotherapy related services to private and public hospitals in Europe, principally Portugal, Spain and Germany.
Mountaineer Gas Company is an independent local gas distribution company based in Charleston, West Virginia, USA.
Nua is the largest private specialist residential care provider in Ireland, supporting service users with intellectual disabilities, mental health conditions and other complex needs.
NVA is a renewable energy development business headquartered in Milan, Italy. The company focuses on technologies such as utility-scale solar PV, onshore wind and biogas.
Oslofjord Varme is a district heating and cooling business based in Norway serving both commercial and residential customers.
Porterbrook is a rolling stock owner which leases passenger trains to train operating companies in the UK.
QSL is a leading North American port terminal operator with a portfolio of multipurpose terminals, which provides stevedoring, cargo handling solutions, transportation and marine services.
Rothes CoRDe owns a combined heat and power plant located in Rothes, Scotland which is fuelled by a waste products from the local whisky distillation process.
STR owns and operates a bunker fuel terminal in the Port of Rotterdam.
Sestrieres owns and operates ski lifts located in the Via Lattea ski area in North West Italy.
Sutton and East Surrey Water is a regulated water-only company located in South East England.
Sonnet is an investment platform established to acquire and develop energy transition assets in Iberia.
Gruppo Spinelli is a leading container terminal and logistics business headquartered in Genoa, Italy.
Stockholm Gas is a gas distribution system operator in Stockholm, Sweden.
Strategic Fiber Networks is a vertically integrated fiber and telecoms business based in Germany.
TruVista provides telecommunications services to customers located in South Carolina and Georgia, USA.
The UK EfW Portfolio comprises interests in four energy-from-waste facilities located in London and the Midlands region in the UK.
UPL is a gas distribution company operating in Ohio, Pennsylvania, Indiana, Virginia and West Virginia
USG operates salt cavern oil storage facilities in Nordenham, Germany.
Vanguard Healthcare Solutions is the market leading provider of flexible clinical infrastructure in the UK.
Värmevärden owns and operates plants which produce and distribute district heating and electricity in central Sweden.
Verbrugge is a bulk and break-bulk port terminal business based on the Scheldt Estuary in the Netherlands.
Vista Services is a Canadian residential equipment leasing business which focuses on water heater, heating, ventilation and air conditioning, water treatment and alarm security systems.
Wind Estate is a renewable power operator and developer operating onshore generation capacity in Denmark and the UK.
Recent Awards
The 2023 Fund Manager of the Year (Europe) award was given by Infrastructure Investor on 1 March 2024, covering the time period from 1 January 2023 to 31 December 2023. No compensation was provided in connection with this award.
The 2022 Mid-Market Investor of the Year (Global) award was given by Infrastructure Investor on 1 March 2023, covering the time period from 1 January 2022 to 31 December 2022. No compensation was provided in connection with this award.
The 2022 Equity Fundraising of the Year (Europe) award was given by Infrastructure Investor on 1 March 2023, covering the time period from 1 January 2022 to 31 December 2022. No compensation was provided in connection with this award.
The 2022 Digital Infrastructure Deal of the Year (North America) award was given by Infrastructure Investor on 1 March 2023, covering the time period from 1 January 2022 to 31 December 2022. No compensation was provided in connection with this award.
The 2021 Mid-Market Investor of the Year (Global) award was given by Infrastructure Investor on 1 March 2022, covering the time period from 1 January 2021 to 31 December 2021. No compensation was provided in connection with this award.
The 2021 Transport Investor of the Year (North America) award was given by Infrastructure Investor on 1 March 2022, covering the time period from 1 January 2021 to 31 December 2021. No compensation was provided in connection with this award.
The 2021 Social Investor of the Year (North America) award was given by Infrastructure Investor on 1 March 2022, covering the time period from 1 January 2021 to 31 December 2021. No compensation was provided in connection with this award.
The 2021 EMEA Fund Performance of the Year award was given by IJInvestor Awards on 13 December 2021, covering the time period of 1 April 2020 to 30 April 2021. No compensation was provided in connection with this award.
The 2023 Top Performing European Infrastructure Fund Manager award was given by Preqin in June 2023, covering the time period from 1 March 2022 to 31 March 2023. No compensation was provided in connection with this award.
The 2021 feature as One of the Largest Unlisted Infrastructure Funds Closed in 2020 was given by Preqin in February 2021, covering the time period from 1 January 2020 to 31 December 2020. No compensation was provided in connection with this award.
The 2021 feature as One of the Most Consistent Top Performing Unlisted Infrastructure Fund Managers (All Vintages) was given by Preqin in February 2021, covering the time period from 1 January 2020 to 31 December 2020. No compensation was provided in connection with this award.
The 2021 feature as One of the Top Performing Unlisted Infrastructure Funds by Net IRR (Vintages 2008-2017) was given by Preqin in February 2021, covering the time period from 1 January 2020 to 31 December 2020. No compensation was provided in connection with this award.
The 2021 feature as One of the Largest Europe-Focused Unlisted Infrastructure Funds Closed in 2020 was given by Preqin in February 2021, covering the time period from 1 January 2020 to 31 December 2020. No compensation was provided in connection with this award.
The 2019 Consistent Top Performing Infrastructure Fund Manager feature was given by Preqin in February 2019, covering the time period from 1 January 2018 to 31 December 2018. No compensation was provided in connection with this award.
No compensation was provided in connection with these awards.