DIF acquires shadow toll road in Spain

Madrid, 21 June 2017 – DIF Infrastructure IV (“DIF”) is pleased to announce that it has acquired from OHL Concesiones (“OHL”) 45% of the shares in Autovía de Aragon, S.A, a shadow toll road linking the Madrid city center with Barajas airport (“Autovia de Aragon”).

In addition to DIF’s share, OHL will maintain its position as a significant industrial partner in Autovia de Aragon. TYPSA, a leading consulting engineering firm, will retain its 5% share in the company.

Autovia de Aragon is one of the main road accesses to Madrid and one of the alternatives that links the city center and the airport. The road is located in one of the most urbanized and industrial corridors linking Madrid’s urban center with Guadalajara. The 19-year concession started in 2007, (with end date December 2026) and operates the first section of the A-2 Motorway, which is the main connection between the cities of Madrid and Barcelona.

Autovia de Aragon is DIF’s first road investment in Spain following the acquisition of 6 PPP projects in other sectors. Long term financing is in place and provided by EIB, FMSW and ICO (Instituto de Crédito Oficial).

Fernando Moreno, DIF’s head of Spain, said: “DIF is very pleased to establish this long term partnership with OHL and invest in this high quality asset that will provide a strong return and steady cash yield for DIF’s investors”.

DIF was advised by Uría & Menéndez (legal), Garrigues (tax), PWC (model/financial) and Arup (traffic/technical).

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €4.2 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Paul Nash, Partner
Email: p.nash@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

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DIF acquires 125 MW solar project in Australia

Sydney, 30 May 2017 – DIF Infrastructure IV is pleased to announce the acquisition of 100% of the 125 MW Clare Solar PV project from Fotowatio Renewable Ventures (FRV), via a 50 – 50 joint venture with Lighthouse Infrastructure.

Developed by FRV, the Clare Solar Farm is located around 35 km south-west of Ayr in Northern Queensland. The 125MW (DC) photovoltaic solar farm is currently under construction and is scheduled to commence operations in late 2017. The project will create up to 200 jobs during construction and when completed will generate enough electricity to power approximately 42,000 Queensland homes, abating nearly 200,000 tonnes of CO2e emissions annually.

Origin Energy, a major Australian energy company, has entered into a long-term contract to purchase 100% of the electricity output and large-scale renewable energy certificates (LGCs) generated by the project.

Project finance has been provided to the project by NAB and SMBC.

RBC Capital Markets and Société Générale were financial advisers to Lighthouse and DIF in relation to the acquisition and King Wood Mallesons acted as legal adviser.

Marko Kremer, DIF’s Head of Australasia added: “This acquisition represents DIF’s third large scale solar PV project in Australia, and we are delighted to further extend our relationship with FRV following the acquisition of the Royalla Solar Farm in 2016”.

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Christopher Mansfield, Partner, Head of Renewable Energy
Email: c.mansfield@dif.eu

Allard Ruijs, Partner, Head of Investor Relations & Business Development
Email: a.ruijs@dif.eu

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DIF completes the acquisition of Affinity Water

DIF

London, 22 May 2017 – DIF Infrastructure IV is pleased to announce that its consortium, following the announcement made on 2 May 2017, completed the 100% acquisition of the Affinity Water Group on 19 May 2017.

DIF’s share in the consortium is 26.9%, which in addition comprises of Allianz Capital Partners on behalf of Allianz Group (36.6%) and HICL Infrastructure Company Limited (the listed infrastructure investment company advised by InfraRed Capital Partners Limited) (36.6%).

Affinity Water is the United Kingdom’s largest water only supply company by revenue and population served. It is licenced under the Water Industry Act 1991 and regulated by Ofwat, ensuring long term stable income streams. Affinity Water owns and manages the water assets and network in an area of approximately 4,515 km² in the southeast of England, split over three regions, comprising eight separate water resource zones. The company is the sole supplier of drinking water in these areas. Affinity Water supplies, on average, 900 million litres of water a day to over 3.6 million people, serving 1.5 million homes and businesses, together with operating 98 water treatment works.

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Paul Nash, Partner
Email: p.nash@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

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Successful Opening of CSA Energy Infrastructure Switzerland Investment Group

Credit Suisse

Zurich, May 10, 2017

The opening of the CSA Energy Infrastructure Switzerland investment group has attracted a great deal of interest from investors. Thanks to capital commitments amounting to CHF 600 mn, the total volume adds up to around CHF 1.2 bn.

After opening subscriptions for the third time, CSA Energy Infrastructure Switzerland, an investment group of the Credit Suisse Investment Foundation, reached its planned subscription volume of CHF 600 mn. The investment group, which was established in 2014 by the Credit Suisse Investment Foundation and is managed by the investment manager Credit Suisse Energy Infrastructure Partners, was opened to both new and existin investors in recent months. As a result, the total volume now amounts to around CHF1.2 bn. This makes CSA Energy Infrastructure Switzerland the largest infrastructure investment group investing exclusively in Switzerland. The capital committed is largely invested in the two main areas of energy and gas distribution as well as hydropower.

Following the latest opening, over 130 Swiss pension funds now invest in the investment group. The success of the investment concept is underlined by the fact that the target volume was heavily oversubscribed. Credit Suisse expects there to be further openings in the future.

The CSA Energy Infrastructure Switzerland investment group has an unlimited duration, which is ideal given the long-term investment period required for energy infrastructure installations. Investments focus on supply-critical energy infrastructure facilities. The investment group invests exclusively in Switzerland, witht least 75% of the portfolio being invested in existing facilities. Investments in new project developments account for no more than 25% of the investment portfolio.

Further information at www.credit-suisse.com/cseipInformation

Media Relations, telephone +41 844 33 88 44, media.relations@credit-suisse.com

 

Credit Suisse AG

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred tohere as “Credit Suisse”). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46640 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit -suisse.com.

 

Credit Suisse Asset Management (Switzerland) Ltd.

Credit Suisse Asset Management is a multi-specialist manager with more than CHF 322 bn of assets under management operating within the International Wealth Management division of Credit Suisse. Backed by the institutional quality governance, stability and opportunity of Credit Suisse’s worldwide franchise, we deliver distinct product expertise through active and passive solutions in both traditional and alternative investments.

Credit Suisse Energy Infrastructure Partners AG

Credit Suisse Energy Infrastructure Partners AG is an investment boutique within Credit Suisse AG’s Asset Management, and acts as the investment manager for the CSA Energy Infrastructure Switzerland investment group, among others. It specializes in infrastructure investments in the European energy sector. Its clients include primarily large and medium-sized pension funds and insurance companies seeking long-term investments in this asset class.

 

CSA Energy Infrastructure Switzerland is an investment group of the Credit Suisse Investment Foundation (CSA), and invests in Swiss energy infrastructure. The focus is on investments in the capital-intensive area of existing Swiss energy infrastructure. Furthermore, it is

involved in new-build projects that have received the necessary permissions. CSA Energy Infrastructure Switzerland invests primarily in non-listed equity holdings. The investment group is only open to pension funds domiciled in Switzerland.

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Allianz , EDF Invest and DIF to acquire 5% in Autostrade per l’Italia

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The Board of Directors of Atlantia, the listed global operator of motorway and airport infrastructure, has accepted a binding offer by Allianz, EDF Invest and DIF to acquire a 5 percent stake in Autostrade per l’Italia, the largest Italian toll road network. The transaction is subject to signing of final contracts over the next days and fulfilment of the conditions precedent therein.

Autostrade per l’Italia is the largest toll motorway concession asset in Europe representing more than 50 percent of Italy’s toll motorway network and 61 percent of kilometers travelled. Autostrade per l’Italia Group’s network of around 3,000 km stretches across 16 Italian regions comprising 21 toll motorways, covering essential transport links mainly in the Northern part of Italy around the major economic urban areas as well as the two principal north-south routes, the A1 Milan-Naples and the A14 Bologna-Taranto.

The consortium is comprised of long-term infrastructure investors Allianz Capital Partners on behalf of the Allianz Group (74%), EDF Invest (20%) and DIF (6%) and it will also have a call option on a further 2.5% interest in Autostrade per l’Italia.
“By investing in a prime core infrastructure in the European toll road sector we will further diversify our infrastructure portfolio across sectors and regions”, said Christian Fingerle, Chief Investment Officer, at Allianz Capital Partners. “We are very pleased to set up a new partnership amongst Allianz and Atlantia as leading international infrastructure operator and to work with them and other investors on the success of this company.”

EDF Invest’s Managing Director, Guillaume d’Engremont said: “ASPI stands out by the quality of its installations as well as its management. Besides, the network has potential for expansion through projects which are essential for the country. Our stake in ASPI will ideally complement our core infrastructure portfolio. We are very pleased to further strengthen our relationship with Atlantia, following our joint investment in Aéroports de la Côte d’Azur last year.”
Wim Blaasse, Managing Partner of DIF, said: ”DIF is very pleased to establish this long term relationship with Atlantia and to invest in this high quality and diversified operating toll road network, which is a very good complement to DIF’s infrastructure portfolio”.
The closing of the transaction is expected to occur by the end of July.
April 28, 2017

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3i announces sale of ESG generating proceeds of £30 million

3i Group plc (“3i”), and funds managed by 3i, today announce the sale of ESG, a UK based provider of testing, inspection and compliance (“TIC”) services, focused on Infrastructure, Built Environment and Energy & Waste to Socotec, a French headquartered, global leader in Inspection, Measurement, Certification and Training.

Proceeds to 3i total £30m, which represent a 23% uplift on its December 2016 valuation and a 39% uplift on its March 2016 valuation. The transaction is due to complete later this week.

Pete Wilson, Partner 3i, commented:
“During our investment period, ESG has cemented its position as the market leader in the provision of TIC services to its chosen sectors in the UK. I would like to thank Ian Sparks and his management for their significant commitment over the last few years, and I wish them well through the next phase of ESG’s growth with Socotec”.

Ian Sparks, CEO of ESG added:
“3i has been an extremely supportive partner to ESG and their in depth knowledge of the TIC sector has been invaluable in helping support our ambitious growth plans. The business is well positioned for future growth and I am looking forward to continuing to deliver for our clients as part of the Socotec group”.

3i’s advisers on the transaction were DC Advisory (financial adviser), Travers Smith (legal), KPMG (financial, pensions & IT), Deloitte (tax) and OC&C (commercial).

-Ends-

For further information, contact:

3i Group plc
Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Silvia Santoro
Investor enquiries
Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

Notes to editors:

About 3i Group

3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in Northern Europe and North America. For further information, please visit: www.3i.com

3i’s Private Equity team provides investment solutions for growing companies, backing entrepreneurs and management teams of mid-market companies with an EV typically between €100m – €500m. We back international growth plans, providing access to our network and expertise to accelerate the growth of companies across the consumer, industrials and business and technology services industries.

Regulatory information
This transaction involved a recommendation of 3i Investments plc.

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ARDIAN Infrastructure acquires Ascendi Assets in significant Portuguese motorway network

Ardian

Paris, 3rd August, 2016

– Ardian, the independent private investment company, today announces the signing of an agreement to acquire the shares of Ascendi Group in Ascendi PT II, the joint venture in Portuguese motorways.

Ascendi PT II was formed in June 2015 as a partnership between Ardian Infrastructure and Ascendi, and owns and operates five motorways in North Portugal and the Lisbon area.

As part of this new transaction, Ardian Infrastructure will take control of the five jointly held assets, as well as two additional toll roads from Ascendi. Ardian will pay Ascendi a total consideration of €600 million, to which €53 million can be added via a variable price mechanism. Ardian will also acquire the operational and maintenance companies associated with the motorways.

The Ascendi network is the second largest motorway network in Portugal, stretching more than 850km across the seven toll roads, which employ 500 people.

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