Tag Archives: infrastructure

Ardian Infrastructure acquires shares of a chilean toll road business

Ardian

Santiago de Chile, September 6th, 2019 – Ardian, the world’s leading private investment firm, together with the Chilean Fund Manager, CMB, agreed to acquire a 33% stake in a Chilean toll road business from Brookfield Infrastructure. The business that is being acquired is comprised of a 100% interest in Vespucio Norte Express and Túnel San Cristóbal in Santiago de Chile.

Vespucio Norte Express is a critical urban express highway in Santiago de Chile with 29 kilometers of extension of a multi-lane road (3X3) with a free flow system, which border the city from the north-east to the south-west connecting two of the city’s wealthiest areas to the industrial side of the capital. Túnel San Cristóbal in Santiago de Chile is a 4 kilometers toll tunnel expressway in Santiago, which includes two uni-directional (2×2) tunnels that connect the district of Providencia with the district of Huechuraba. Both districts are densely populated with consolidated commercial areas. The remaining concession life of these two assets are 14 and 18 years respectively.

Juan Angoitia, Senior Managing Director at Ardian, said: “The Chilean concession system has a long and consistent history of development, fostering very productive and valuable public-private partnerships based on a robust legal framework system. The Chilean concession system has become a cornerstone of the economic development of the country. The acquisition of two key assets in the urban toll road system of Chile’s capital is a strategic milestone for Ardian Infrastructure, a world leading investor in the road sector”.

The transaction is Ardian’s Infrastructure first investment in Chilean transport sector. Ardian is already active in the energy sector in the country. Asset Chile acted as financial advisor and Baraona Fischer & Cia as legal counsel to Ardian and CMB. The closing of the transaction is subject to the satisfaction of customary regulatory and other approvals.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 610 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

ABOUT CMB

CMB is Chile’s largest and most experienced infrastructure fund manager, with over 25 years of successful experience in greenfield and brownfield investments in the country. CMB has over US$540 million in assets under management and has completed 17 investments in multiple infrastructure assets. CMB recently raised its third infrastructure fund, which is the largest of its kind in Chile. CMB is part of Larrain Vial, the leading independent investment bank in the Andean region with over 84 years of investment management experience in Latin America.
www.cmbprime.cl

PRESS CONTACTS

ARDIAN
Headland
Viktor Tsvetanov
Tel: +44 20 3435 7469
vtsvetanov@headlandconsultancy.com

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InfraRed Capital Partners agrees on sale of its interest in Auckland South Corrections Facility project, New Zealand

InfraRed Capital Partners

InfraRed Capital Partners (“InfraRed”) has committed to sell its 40% stake in the Auckland South Corrections Facility (the “Project”) to AMP Capital’s Community Infrastructure Fund (“AMP Capital”).

The Project, a 25 year contract to design, finance, build, operate and maintain a 960-place adult male prison facility on behalf of the New Zealand Department of Corrections, was sold by InfraRed’s Infrastructure Fund III, which invested in the Project at financial close in September 2012.

Sven Stubican, InfraRed’s Head of Australia and New Zealand, said with respect to the transaction:

“InfraRed has successfully concluded this process with the sale of our interest in the Project to AMP’s Community Infrastructure Fund, subject to New Zealand Department of Corrections and regulatory approval.

We are proud to have seen this important asset successfully through construction and into the operating phase. Since completion of the facility in January 2015, and operational commencement in mid-2015, we have worked closely with the New Zealand Department of Corrections to deliver a range of rehabilitation, educational and support programmes to prisoners. This has been a central goal of the Project with the dual-aim of assisting offenders to re-integrate into the community, and reducing the likelihood of re-offence.

We have every confidence in the Project’s ongoing success.”

InfraRed is committed to the New Zealand market and continues to seek opportunities in the region that are accretive to the InfraRed portfolio.”

 

Enquiries

Tulchan Communications
+44 (0) 20 7353 4200
Sheebani Chothani

More Information

InfraRed Capital Partners is a leading global investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul, Sydney and Mexico City. With around 150  professionals it manages US$12bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.

Since its inception, InfraRed has launched 18 funds, including two companies listed on the London Stock Exchange: HICL Infrastructure PLC (“HICL”) and The Renewables Infrastructure Group (“TRIG”), both of which are members of the FTSE 250. To date, InfraRed has realised six funds, demonstrating its ability to create real value for its stakeholders.

InfraRed has been investing in the Infrastructure market for over 20 years and is one of world’s largest managers of social and transportation infrastructure projects. InfraRed has evolved its business from principally managing PPP projects at its inception to a diversified and international investment business, with over 80 infrastructure investment professionals, managing over 200 investments in PPP projects, renewable energy, regulated and economic infrastructure businesses.

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DIF Capital Partners acquires 203MW wind portfolio in the US

DIF

DIF Infrastructure Fund V (“DIF”) is pleased to announce financial close of the 100% acquisition of MIC Renewable Energy Holdings LLC’s indirect interest in two operating wind projects located in the United States with a gross capacity of 203MW.

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Idaho Wind Partners (Idaho) and Brahms Wind (New Mexico) have been operational since 2011 and 2014, respectively. Both projects have long-term power purchase agreements with investment grade off-takers. The projects will be operated and managed by Longroad Energy Services under asset management and operations & maintenance agreements.

This investment fits well within DIF’s mandate to acquire infrastructure and renewable energy assets and adds to DIF’s existing portfolio of renewable energy assets in the United States.

Paul Huebener, Partner and DIF’s Head of Americas added: “We are pleased to add these established wind projects to our portfolio of long-term, contracted assets. We believe the projects will provide attractive returns and stable cash flows to our investors.”

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has a team of over 125 professionals, based in nine offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Thijs Verburg, Director
Email: t.verburg@dif.eu

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DIF announces brand name change to DIF Capital Partners

DIF

DIF is pleased to announce that we have changed the DIF brand name to DIF Capital Partners. The name change is a result of the global growth of our firm and improves the recognition of DIF as global investment firm, acting as a partnership.

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America, Latin America and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 125 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Thijs Verburg, Director
Email: t.verburg@dif.eu

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The Carlyle Group and VICO Infrastructure Announce Partnership to Invest in U.S. Water Infrastructure

Carlyle

WASHINGTON, DC & NEWPORT BEACH, CA – Global investment firm The Carlyle Group (NASDAQ: CG) and large-scale infrastructure firm VICO Infrastructure Company (VICO) today announced a partnership through which the firms will invest in water infrastructure projects across the United States. The partnership will develop, acquire and optimize water, desalination, wastewater treatment and water reuse facilities across the country, meeting a growing need to address water scarcity due to population growth and aging infrastructure. Carlyle intends to fund this investment from its Carlyle Global Infrastructure Opportunity Fund.

“We are delighted to partner with Carlyle and leverage an incredibly wide range of expertise, resources and capital to benefit communities, clients and investors,” said Brian Cullen, President & CEO of VICO Infrastructure. “We recognize there is significant demand for investment in US water infrastructure and partnering with Carlyle will advance VICO’s mission to combine creativity, knowledge, experience and transparency into every living infrastructure project.”

“The Carlyle Group is thrilled to partner with Brian Cullen, a respected industry veteran, and the entire VICO platform,” said Peter Taylor, Managing Director and Co-Head of the Carlyle Global Infrastructure Opportunity Fund.  “Population growth and increased economic activity in areas with limited water supply are increasing constraints on water infrastructure. We see a significant opportunity for VICO and Carlyle to invest in these communities to deliver improved, sustainable and resilient infrastructure for all stakeholders.”

VICO and Carlyle intend to collaborate and pursue investments with public agencies, private industries, education facilities, real estate and related energy and smart-city technology projects as well as explore opportunities with Carlyle’s existing and future portfolio companies. As an example, the City of Lake Oswego, Oregon has shortlisted VICO and Carlyle as a potential preferred developer to lead the development and financing of a new wastewater treatment plant for the city.

Water industry veteran Brian Cullen established VICO in 2018. Prior to VICO, Brian served as President and shareholder of PERC Water Corporation for 17 years. He was instrumental in completing over 20 mid-sized water infrastructure projects valued in the hundreds of millions of dollars. Most notably, Brian led the Santa Paula, California public-private partnership, the first privately funded project of its kind in the US.

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 About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $222 billion of assets under management as of March 31, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of our investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,725 people in 33 offices across six continents. www.carlyle.com

For media inquiries, contact Christa Zipf at Christa.Zipf@carlyle.com or at +1 (212) 813-4578.

About VICO Infrastructure

VICO Infrastructure (VICO) specializes in the creative development and efficient management of large-scale infrastructure projects. VICO’s mission is to combine creativity, knowledge, experience and transparency into every living infrastructure project.  VICO solves infrastructure challenges by partnering with its clients in a strategic and transparent manner. VICO teams with talented people, best-in-class companies and smart technologies on projects that improve quality of life, enhance communities and provide attractive returns to investors.  http://www.vicoinfrastructure.com/

For more information, contact VICO Infrastructure at connect@vicoinfrastructure.com, or +1-949-375-4892.

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2i Aeroporti acquires majority stake in Trieste Airport

Ardian

Set-up of a strategic plan for the development of the airport with investments of EUR 30 million in the next 4 years

Trieste-Milan, July 12 2019 – 2i Aeroporti finalized the acquisition of a 55% stake in Aeroporto Friuli Venezia Giulia S.p.A. for a total value of EUR 32.8 million. The Friuli Venezia Giulia Region will maintain a 45% stake. 2i Aeroporti is co-controlled by F2i sgr and a consortium led by Ardian Infrastructure.
Thanks to this agreement, Trieste airport becomes part of one of the largest Italian airport networks, which includes the airports of Naples, Turin, Alghero, Milan (Linate and Malpensa), Bologna and, indirectly, Bergamo. In 2018, the airports of the 2i Aeroporti network handled c. 71 million passengers, corresponding to 39% of national traffic, with an aggregate turnover of around EUR 1.2 billion.
“Through this deal the regional airport will take part to those complex dynamics that, thanks to the involvement of private partners with proven expertise and reliability, target the development of air traffic in the skies over Friuli Venezia Giulia,” Massimiliano Fedriga, President of Autonomous Region Friuli Venezia Giulia, explained.
“Trieste airport is a very important dowel of our strategy focused on the development of an independent network of airports in Italy. This acquisition increases the network of 2i Aeroporti, which allows local airports to take advantages from efficiencies and economies of scale, made possible by the presence of strong, long-term investors with a clear infrastructural vision. I think that, thanks to the partnership between the public and private sectors, our airport will be able to play a very important role in favour of the economic development of the territory, becoming a strategic hub for the development of a regional intermodality,” Renato Ravanelli, CEO of F2i, stated.
“We share with F2i and the Friuli Venezia Giulia Region the expansion plan of Trieste Airport, which will increasingly serve passengers and the territory (companies, local authorities, neighboring communities). We will work in close synergy together with the management team, in order to increase the international destinations, leveraging on our professional skills and established relationships with the airlines that we have developed over the years, thanks to Ardian’s investments in the aviation sector and in the infrastructure assets worldwide,” Mathias Burghardt, member of the Executive Committee and head of Ardian Infrastructure, added.
The new shareholders, in agreement with the Friuli Venezia Giulia Region, will work together to further develop the connections of Trieste airport towards Italy and abroad, in order to offer quality services, with a focus on innovation, sustainability and long-term value creation. The investment plan for the next years deals with, on one hand, EUR 15 million for the strengthening of flight infrastructures, and on the other hand, EUR 11 million for further infrastructural improvements, also for airport services and other buildings. An amount of EUR 2 million will also be invested in “green projects” through the installation of renewable energy systems. Lastly, EUR 2 million will be allocated to airport security and further upgrading of access roads.
“This operation allows us to enter into a network of primary importance and thus strengthen the strategic positioning of our airport also from a commercial standpoint”, stated Antonio Marano President of Trieste Airport.

2i Aeroporti

2i Aeroporti is the largest Italian airports platform: in 2018 over 69 million passengers have passed through one of the airports owned by 2i Aeroporti, of which 51% is controlled by F2i and 49% by the consortium led by Ardian.

F2i SGR

F2i, which stands for Italian Infrastructure Fund, is an asset management company established in 2007 and led by the CEO Renato Ravanelli. F2i is the largest infrastructure fund operating in Italy and among the leading ones in Europe. Its assets under management amount to around € 5 billion, invested in key areas of the Italian economy: airports, renewables, natural gas distribution, integrated water cycle, telecommunications, logical networks, health. Through its investee companies F2i provides work to over 17 thousand people in Italy and every day millions of people use the services and infrastructure of companies in its portfolio. F2i Sgr has 19 shareholders, including banking foundations, social security funds and Italian and foreign pension funds, Italian and international financial institutions, sovereign funds. The funds managed by F2i Sgr are underwritten by Italian and foreign professional investors, in equal measure.

ARDIAN

Ardian is a world-leading private investment house with assets of US$90bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 610 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 880 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian
www.ardian.com

Aeroporto Friuli Venezia Giulia – Trieste Airport

Since 1935 Trieste Airport has been the reference airport of the Friuli Venezia Giulia Region, in 2018 passenger traffic amounted to 772 thousand passengers for a total of 15,470 flights taken off of which 8245 commercial flights and 7225 general aviation. Travelers can reach the airport by car (and park in over 2500 parking spaces equipped with electric charging stations), by bus (with 3 companies that stop at the airport) but also by regional and high-speed railways (with 6 fast connections called ‘Frecce’ from and to Milan and Venice). Thanks to recent investments and partnerships with major airlines, the airport serves over 26 destinations in Italy and Europe and offers quality intermodal, sustainable and avant-garde services, providing the best hospitality for customers from the region, the Northeast and from neighbouring countries such as Slovenia, Austria and Carinthia. The recently refurbished infrastructures of the Friuli Venezia Giulia airport can satisfy the most demanding customers, with a dedicated and personalized service at every moment of the journey. In just two years and thanks to a 17.5 million euros investment, the airport is the focus point of the main Italian intermodal hub that connects the terminal directly with the “Trieste Airport Ronchi dei Legionari” stop along the Trieste – Venezia / Trieste – Udine railway lines. From a financial point of view, the company that manages the regional airport closed the 2018 with a net profit of 1.456 million euros and an EBITDA of 4.717 million euros. The increase in non-aviation revenues (commercial services) is significant, registering +40% compared to the previous year, reaching 4.7 million euros.

PRESS CONTACTS

For further information on F2i and 2i Aeroporti:
Maria Laura Sisti
External Relations Manager
Mobile: +39 347 4282170
marialaura.sisti@csc.vision.com
Chiara Cartasegna
Press Office
Mobile: +39 3489265993
chiara.cartasegna@cscvision.com
For further information on ARDIAN:
Image Building
Cristina Fossati, Luisella Murtas, Anna Pirtali
ardian@imagebuilding.it
Tel: +390289011300
For further information on Trieste Airport:
Community – Strategic Communication Advisers
Auro Palomba, Giuliano Pasini, Giovanni Benvenuti
tsairport@communitygroup.it
Tel: +390289404231 +393469702981
For further information on Friuli Venezia Giulia Region:
Agenzia Regione Cronache
Demetrio Filippo Damiani
demetriofilippo.damiani@regione.fvg.it
Tel: +39 347 5644945

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HPEF III has entered into an agreement to sell Norsk Jernbanedrift

Hercules Capital

HPEF III has entered into an agreement to sell Norsk Jernbanedrift Holding AS (“NJD”) to Baneservice AS (“Baneservice”). The agreement was signed on 5 July 2019, with closing expected to take place in September 2019.
NJD is a leading provider of engineering, construction and machine services, as well as equipment and products to the railway infrastructure in Norway.

NJD has experienced strong development over the past years, with strong growth in revenues and profitability. The order backlog is currently at all-time high levels, and the company expects to reach revenues of more than NOK 650m in 2019.

As part of the value creation plan, two add-ons were completed during the ownership.

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DIF, Aberdeen Standard Investments and Local Pensions Partnership to acquire Elenia Heat

DIF

Schiphol, 1 July 2019 – DIF Infrastructure V (“DIF”), SL Capital Infrastructure II (“ASI”) and Local Pensions Partnership Investments (“LPPI”) are pleased to announce the signing of an agreement to acquire 100% of Elenia Lampö Oy (“Elenia Heat”) from Elenia Oy.

Elenia Heat is the 9th largest district heating company in Finland. The company owns and operates 16 district heating networks across Finland with a total network length of 499km, via which it operates in 10 municipalities and serves approximately 85,000 end-customers. Elenia Heat also owns a gas distribution business, selling gas via 6 distribution networks. In addition, the company holds a 50% stake in Oriveden Aluelämpö Oy, a small district heating network in Central Finland in the city of Orivesi.

The consortium was advised by Jefferies as sole financial adviser.

About DIF
DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed- end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets and companies in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has over 125 professionals in nine offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto.

DIF contact:

Allard Ruijs
Partner
a.ruijs@dif.eu

About ASI
Aberdeen Standard Investments has over €4 billion of assets under management across direct economic and concession infrastructure. The Economic infrastructure funds’ primary objective is to achieve long term, consistent returns by investing in brownfield core/core+ infrastructure assets in Europe. The fund’s aim is to construct a balanced portfolio of high quality European infrastructure opportunities focussing on small to mid-market opportunities across the utilities, transport and energy sectors.

Aberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments. With over 1,000 investment professionals we manage €643 billion (31/12/18) of assets worldwide. We have clients in 80 countries supported by 50 relationship offices. This ensures we are close to our clients and the markets in which they invest. We are high-conviction; long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance. We are resolute in our commitment to active asset management.

Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on 14 August 2017.

About LPPI
Local Pensions Partnership Investments Ltd (“LPPI”) is an FCA authorised investment manager for UK local government pension funds. LPPI was established in 2016 to enable public sector schemes to pool resources and improve management of their assets for the benefit of their members and employers.

LPPI manages approximately £17 billion in assets, allocated across numerous asset classes, on behalf of three pension funds: Lancashire County Pension Fund, London Pensions Fund Authority and Royal County of Berkshire Pension Fund. The infrastructure commitments are managed mainly through the fund LPPI Infrastructure Investments LP, launched in June 2017 which, including infrastructure assets held on individual clients’ balance sheets, has assets and commitments around £1.8 billion.

The infrastructure investment team has a long term ‘buy and hold’ strategy and seeks to gain cost-effective, diversified exposure to global infrastructure assets, predominantly in the UK, Europe and North America. With eight dedicated infrastructure professionals LPPI is well positioned to support continued capital deployment in direct investments and fund allocations.

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DIF opens office in Santiago (Chile)

DIF

Schiphol, 19 June 2019 – DIF is pleased to announce that it has opened an office in Santiago, Chile. From Santiago DIF will target Latin America with an initial focus predominantly on Chile and Uruguay.

The office will be headed by Daniel Aninat, who is hired as a Managing Director. Daniel came from Scotiabank, where he was heading the Chilean corporate banking division. Before that he was head of project and acquisition finance for Santander in Chile. Daniel has a broad experience in the Latin American infrastructure and power sectors. Furthermore Luis Hinojosa, Senior Director in DIF’s Madrid office, will relocate to Santiago. Luis is with DIF since 2015 and has a broad infrastructure experience, including in different Latin American countries.

Wim Blaasse, Managing Partner at DIF: “Latin America is a large and fast growing infrastructure market, in which we see several interesting investment opportunities across all our target sectors. We are delighted with this next step for DIF and further expand our global office network to nine offices, enabling us to better source and manage projects locally, as well as continue to construct diversified portfolios.”

About DIF
DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets globally through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows;
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has a team of over 125 professionals, based in nine offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

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

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DIF acquires stake in Dublin Waste to Energy PPP project

DIF

London, 4 June 2019 – DIF, through its most recent fund DIF Infrastructure V, is pleased to announce that it has closed the acquisition of a stake in the Dublin Waste to Energy PPP project (the “Project”). The Project is an operational waste to energy facility supported by a 45 year contract with Dublin City Council. DIF Infrastructure V acquired the stake from Macquarie’s Green Investment Group Limited (“GIG”), who remain a shareholder in the Project.

Located in Poolbeg, Dublin Port, the Project processes 600,000 tonnes of residual waste annually and generates electricity which is exported to Ireland’s national grid – sufficient to power 80,000 homes. The facility has been designed to provide highly efficient incineration and is classified as energy recovery in line with EU policy on waste. The Project is part of a wider Dublin regional waste management plan, which is aimed at reducing waste, maximizing recycling and generating energy from waste. The Project benefits from the Irish renewable energy feed-in tariff. The facility was constructed by Covanta who are also its long term operators.

Gijs Voskuyl, Partner at DIF, said “DIF is pleased to invest in the Dublin Waste to Energy Project, a well-managed and high-quality asset, which is expected to provide a stable return to our investors. As result of the investment, DIF further expands its footprint in the waste to energy sector, following the investment in Avertas Energy, an Australian waste to energy facility, alongside Macquarie in 2018. DIF is delighted to invest again in Ireland, partnering with GIG and Covanta, who are both very active and reputable investors in the waste sector”.

DIF was advised by Ashurst (Legal), PwC (Financial), Arup (Technical), SLR (Market) and Grant Thornton (Tax).

About DIF
DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid- term contracted income streams that generate stable and predictable cash flows.

DIF has a team of over 120 professionals, based in eight offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please visit www.dif.eu for further information.

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

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