What we do
We invest in resilient businesses that combine strong downside protection with exciting growth prospects. Our controlling stakes allow us to drive value creation strategies. We have repeatedly sold these stakes above holding value, delivering superior returns to shareholders.
Our purpose is to invest responsibly in infrastructure, delivering long-term sustainable returns to shareholders and having a positive influence on our portfolio companies and their stakeholders.
Our objectives are to provide shareholders with a total return of 8% to 10% per annum, to be achieved over the medium term, with a progressive annual dividend per share.
Our strategy is to maintain a balanced portfolio of infrastructure investments delivering an attractive mix of yield and capital appreciation for our shareholders. We invest across mid-market economic infrastructure in developed markets, with a focus on the UK and Europe.
Unique offering for shareholders
The Company remains unique, providing public market investors with access to private infrastructure businesses across a variety of megatrends, sectors and geographies. These private businesses provide essential infrastructure services with good downside protection and exposure to growth trends.
Investment discipline
We are a selective and disciplined investor and, where possible, seek opportunities to transact off-market, only participating in competitive processes where we believe we have a distinct advantage.
Active asset management
We maintain a significant focus on active asset management and investment stewardship. We identify high-calibre portfolio company management teams and look to implement a clear business strategy.
We help identify accretive growth opportunities with the portfolio companies, and actively support them to deliver those opportunities, including executing add-on M&A and putting in place adequate capital structures and capex facilities to fund the associated investments.
Optimising strategy
We actively seek to enhance the infrastructure characteristics of the businesses we acquire. Where possible, we prioritise capital expenditure towards contracted, revenue-generating assets, rather than speculative development, improving the infrastructure characteristics of the business to attract competitive financing, adding elements of service that create customer stickiness, and often implementing operational efficiency initiatives to optimise EBITDA margins. Together, these actions are designed to maximise long-term value and exit potential.
We typically deliver this through ownership control, ensuring appropriate Board representation and composition, active involvement in key strategic and operational workstreams, and strong alignment of management teams through effective incentive structures.
