SL Capital Partners closed its debut infrastructure fund on 516 million pounds ($645.3 million), beating its 400 million pound target. Limited partners include financial institutions, pensions and family office investors from the U.K., Europe and North America. SL Capital’s infrastructure team is led by Dominic Helmsley. The group targets investment in middle-market core infrastructure in the U.K. and northwest Europe.
SL Capital Partners, a Standard Life Investments company, today announces the final close of its inaugural infrastructure fund, SL Capital Infrastructure Fund I. The fund secured £516m of commitments, ahead of its initial £400m target, from a diverse cross section of financial institutions, local authority pension funds and family office investors from the UK, Europe and North America. Standard Life was a significant supporter, backing infrastructure investment across the UK and Europe.
The team, led by Dominic Helmsley, targets direct investment in mid-market core infrastructure transactions in the UK and north-west Europe. The fund has an attractive structure that offers long-term infrastructure returns, working in close alignment with investors.
Roger Pim, Deputy Head of SL Capital Partners commented: “We are pleased with the support we received for what is one of the largest first-time funds raised for European mid-market infrastructure investment in the past 5 years. Our investors have placed significant reliance on the quality and experience of the team, the positive alignment we offer and the strength of the SL Capital platform within Standard Life Investments.”
The fund has already committed 37% of its capital to four investments as the majority shareholder; Auris Kaasunjakelu, a gas distribution business with 570km of pipelines in Helsinki and 11 other cities in Finland; Nordic Power AS, a portfolio of 13 small scale hydro-electric plants in Norway; and two UK rail investments in partnership with Rock Rail – a new fleet of Siemens trains on the Great Northern franchise out of Moorgate station in London and new Stadler intercity trains for the Liverpool Street based East Anglia franchise.
Dominic Helmsley, Head of infrastructure Equity noted: “Our strategy and approach has attracted clients who are looking for a differentiated angle to core infrastructure investing. We have confidence in the quality and characteristics of the four investments made to date and are pleased with their initial positive performance. Our pipeline of opportunities is strong across our core sectors of transport, regulated utilities and energy infrastructure and we expect to deploy significant capital during 2017.”
About the SL Capital Infrastructure Fund I
The Fund is focused on building a diversified portfolio of direct investment in core infrastructure assets in the UK and select European geographies focused on transport, regulated utilities and energy infrastructure. The Fund’s primary objective is to achieve long term, predictable returns through a combination of yield generation and capital appreciation. To date four investments have been made; Auris Kaasunjakelu, a gas distribution business in Finland, Nordic Power AS, a portfolio of 13 small scale hydro-electric plants in Norway and two rail investments in the UK – Rock Rail Moorgate and Rock Rail East Anglia, both funding new rolling stock for the UK rail sector.
About SL Capital Partners
SL Capital Partners is recognised as one of the foremost private market investors, focused on providing solutions and unique investment opportunities to clients in private equity, infrastructure, strategic credit and junior debt. Over the past 18 years it has raised over €10.5 billion (c. $11.1 billion) through 32 funds, with more than 80% of this capital sourced from third party investors.
This track record of investing in infrastructure (direct investments), private equity (primary funds, secondary opportunities and direct co-investments), strategic credit (primary funds) and junior debt (direct investments) has attracted clients ranging from leading institutional investors in the UK, US, Canada, Europe, Asia and the Middle East, to family offices and high net worth individuals. SL Capital Partners manage segregated accounts for some of the world’s largest pension funds.
SL Capital Partners has 29 dedicated investment professionals who manage the fund, secondary and direct investment programs. In total, SL Capital Partners has 59 staff operating through offices in Edinburgh (UK), London (UK) and Boston (US). SL Capital Partners is a Standard Life Investments company.
All information, opinions and estimates are those of SL Capital Partners and Standard Life Investments and its affiliates, and constitute our best judgment as of the date indicated and may be superseded by subsequent market events or other reasons