SL Capital Partners announces final close of the SL Capital Infrastructure Fund I on £516 million
09 February 2017
- Final close of first infrastructure fund on £516m, exceeding initial target
- Fund pursues direct investment in mid-market UK and European infrastructure assets
- 37% of capital already committed to 4 investments with strong pipeline of opportunities
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, noted;
"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. "