How we invest
Creating value for investors and societies
Our heritage is in early-stage value creation.
For the past 25 years, we have focused on developing, constructing, and commissioning new infrastructure that is critical to the functioning of societies. Through disciplined selection and active management, we seek to perform through all market cycles and conditions – producing compelling, risk-adjusted returns for our investors.
We were an early participant in the core market for infrastructure investments (buying developed and often operational infrastructure), establishing a number of complementary core strategies. Today, we manage two of Europe’s largest listed infrastructure investment companies (HICL and TRIG).
Whether for capital gain or long-term yield, we take an active approach to the creation and management of our assets – deploying our large, dedicated in-house Asset Management team to realise and retain additional value while actively managing risk.
By working across the entire asset lifecycle, we build deep and valuable market insights and proprietary data points that bring material benefit to our investment approach.
From upgrading or replacing ageing, traditional infrastructure to facilitating circular economies and the digitisation of our society, we have consistently positioned ourselves at the heart of the prevailing macro themes. By embracing technological developments, we believe we remain well positioned to capitalise on the evolving needs for modern infrastructure.
We have a range of both value-add and core strategies – all targeting essential, high-quality, mid-market infrastructure that is central to the functioning of societies in developed economies around the world. Our wind and solar assets make material contributions to the decarbonisation of society, we connect communities through our investment in digital communication and road and rail assets, and increasingly we are seeing investment opportunities driven by the need to limit the use of natural resources and create circular economies.
Strategy
Value-add
Our capital gain focused strategies are exit driven, seeking to deliver attractive risk-adjusted returns. We identify early-stage opportunities to drive value through developing, constructing, commissioning, and operating infrastructure assets and platforms. For 25 years, we have sought to apply our bespoke model to deliver for investors across all stages of the investment process.
Strategy
Core
Our yield focused strategies – utilising both listed and private capital – aim to produce long-term, stable returns with positive inflation correlation. We put significant emphasis on the construction of our portfolios to create sector and geographic diversification. Since inception, we have undertaken more than 200 transactions and we manage two of the largest listed infrastructure investment companies on the London Stock Exchange.
We have a specialist Asset Management team, focused on enhancing and protecting the value of our assets:
- Our asset management track record spans a wide variety of assets and equity structures, including Public Private Partnerships, operating companies, and growth platforms that create new infrastructure
- We have more than 35 dedicated and specialised asset management professionals within our business based in North America, Europe and Australasia
- We influence and control key value levers for each asset as part of a structured approach that drives our asset management strategy from pre-acquisition and throughout the investment
- We integrate sustainability as the foundation of our asset management approach
- We’ve developed a bespoke digital platform to collate and scrutinise performance data, helping drive operational efficiencies and the sharing of best practice across our portfolio of assets
Sourcing & co-investment
Built on relationships
Sourcing
Few mid-market infrastructure managers can compete with the length of our track record and breadth of our portfolio and experience, which enables us to maintain a privileged dialogue with our business partners. As a result we have built extensive, strategic partnerships across the many industries that we target, amongst utilities, institutional investors, start-ups, advisors, and other critical parties. We work with organisations who share our focus on relationships and value our long-term approach, heritage, and scale.
Co-investment
We recognise the importance of providing access to a diversified pipeline of co-investment opportunities, as the demand for direct investment grows amongst our investors. It also provides us with flexibility, opening-up a wider opportunity-set by increasing the size of transactions that we evaluate. Similarly, as our platform companies scale, we draw on our investor base to fund ambitious growth plans, sharing directly in the opportunities.
Our co-investment framework offers investors access to infrastructure across our value-add and core strategies, in a wide range of OECD countries and sectors. We have an institutionalised approach, making it efficient for investors to work with us.
We embed sustainability into our investment process from the outset. This is critical to the longevity and resilience of our assets and portfolio, and ensures we contribute positively to society and the environment.
Investor relations
Local. Specialist. Disciplined.
We have established a diverse and deep investor base. We have dedicated teams to support our investors, in Europe, North America and Asia. From providing a seamless, proactive service to connecting our investors with industry specialists, we strive to deliver a best-in-class service.
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