DIF invests in a wide range of international, high-quality infrastructure projects that generate stable, long-term cash-flows. We currently manage around €14 billion of assets across eleven investment funds.

To date we have invested in and managed over 200 infrastructure and renewable energy projects, with a total asset value in the tens of billions of euros. Have a look through some examples of our current projects.

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Our funds

We manage two kinds of investment strategy, both targeting operational and construction infrastructure projects across Europe, the Americas and Australasia. Each strategy has a well-defined and differentiated investment remit.

Since the start of DIF in 2005, our traditional DIF funds have invested in public private partnerships (PPP/PFI/P3), utilities, renewable energy projects and other infrastructure that shares similar characteristics and risk/return profiles.

Our CIF funds focus on small- and mid-sized, economic infrastructure assets in telecom, transportation and energy transition. The investment focus is on assets, buy-and-build of portfolios and companies with an asset heavy business model.

Job title Status Number of investments Committed capital

DIF VII

DIF VII is investing in both greenfield and operational companies, platforms and assets around Europe, the Americas and Australasia with a strong pipeline of investments offering long-term contracted or regulated income streams, stable and predictable cash flows, and attractive risk-adjusted returns.

Target: PPP (PFI/P3) | Concessions | Utilities | Renewable energy

Locations: Europe | North America | Australasia

Projects: Greenfield | Operational

2022 Investing 6 No. of investments €4.0bn target size Committed capital

DIF CIF III

DIF CIF III invests in small- and mid-sized core-plus infrastructure companies around the world, targeting mid-term contracted cash flows with a modest risk profile, that offer attractive returns for our investors.

Target: Small / mid-sized core-plus infrastructure companies

Locations: Europe | North America | Australasia

Projects: Greenfield | Operational

Sectors: Telecom | Transportation | Energy (transition)

2022 Investing 8 No. of investments €1.5bn target size Committed capital

DIF CIF II

DIF CIF II invests in small- and mid-sized economic infrastructure assets around the world, targeting mid-term contracted cash flows with a modest risk profile, that offer attractive returns for our investors.

Final close: May 2021

Capital: €1.01bn

Target: Small / mid-sized infrastructure assets, buy-and-build of portfolios and companies

Locations: Europe | North America | Australasia

Projects: Greenfield | Operational

Sectors: Telecom | Transportation | Energy (transition)

2019 Fully invested 12 No. of investments €1.01bn Committed capital

DIF CIF I

DIF CIF I invests in small- and mid-sized economic infrastructure assets around the world, targeting mid-term contracted cash flows with a modest risk profile, that offer attractive returns for our investors.

Final close: November 2017

Capital: €450 million (target: €350 million)

Target: Small / mid-sized infrastructure assets, buy-and-build of portfolios and companies

Locations: Europe | North America | Australasia

Sectors: Telecom | Transportation | Energy

2017 Fully invested 13 No. of investments €450m Committed capital

DIF VI

DIF VI is investing in both greenfield and operational assets around Europe, the Americas and Australasia with a strong pipeline of investments offering long-term contracted or regulated income streams, stable and predictable cash flows, and attractive risk-adjusted returns.

Final close: October 2020

Capital: €3.03 billion (target €2.5 billion)

Target: PPP (PFI/P3) | Concessions | Utilities | Renewable energy

Locations: Europe | North America | South America | Australasia

Projects: Greenfield | Operational

2020 Investing 19 No. of investments €3.03bn Committed capital

DIF V

DIF V invested in both greenfield and operational assets around Europe, North America and Australia with a strong pipeline of investments offering long-term contracted or regulated income streams, stable and predictable cash flows, and attractive risk-adjusted returns.

Final close: May 2018

Capital: €1.9 billion (Target: €1.5 billion)

Target: PPP (PFI/P3) | Concessions | Regulated utilities | Renewable energy

Locations: Europe | North America | South America | Australasia

Projects: Greenfield | Operational

2017 Fully invested 25 No. of investments €1.9bn Committed capital

DIF IV

DIF IV has made 29 investments including both greenfield and operational assets around Europe, North America and Australia. It is now fully focused on management and optimisation.

 

Final close: September 2015

Capital: €1.15 billion (Target: €1.0 billion)

Target: PPP (PFI/P3) | Concessions | Regulated utilities | Renewable Energy

Locations: Europe | North America | Australasia

Projects: Greenfield | Operational

2015 Fully invested 29 No. of investments €1.15bn Committed capital

DIF III

DIF III has made 53 investments in PPPs, concessions, utilities and renewable energy projects around Europe and North America. The fund has successfully realised all 53 investments generating a strong return for its investors. 

Final close: March 2013

Capital: €800 million (Target: €600 million)

Target: PPP (PFI/P3) | Concessions | Regulated utilities | Renewable Energy

Locations: Europe | North America

Projects: Greenfield | Operational

2012 Fully realised 53 No. of investments €800m Committed capital

DIF II

DIF II has made 58 investments around Europe. After selling three onshore wind assets and seven PPP projects, the remaining 48 investments were divested to a single institutional buyer and are now held by DIF Yield I.

Final close: October 2010

Capital: €572 million (Target: €500 million)

Target: PPP (PFI) | Renewable Energy

Locations: Europe

Projects: Greenfield | Operational

2008 Fully realised 58 No. of investments €572m Committed capital

DIF RE

DIF RE has made 26 investments in onshore wind and solar energy projects across Europe. Following a number of sales beginning in 2011, the fund divested all remaining holdings in 2018.

 

Final close: September 2008

Capital: €134 million

Target: Renewable energy (onshore wind and solar)

Locations: Europe

Projects: Greenfield | Operational

2007 Fully realised 26 No. of investments €134m Committed capital

DIF PPP

DIF PPP invested in a wide range of PPP/PFI projects offering long-term stable cash-flows with minimal commercial risk. The fund was fully realised in November 2014 via its sale to Aberdeen Asset Management.

Final close: March 2005

Capital: €121 million

Target: PPP / PFI

Locations: Europe

Projects: Greenfield | Operational

2005 Fully realised 16 No. of investments €121m Committed capital

DIF YIELD I

DIF Yield I manages and optimises PPP/PFI and renewable energy projects that generate long-term, stable cash-flows with minimal commercial risk. The fund manages these assets on behalf of a single institutional investor who acquired the whole DIF II portfolio and 12 cross shareholdings with DIF III, and is a newly established continuation fund.

Final close: September 2017

Capital: €750 million

Target: PPP (PFI) | Renewable Energy (onshore wind and solar)

Locations: Western Europe

Projects: Operational

2017 Fully invested 48 No. of investments €750m Committed capital

Ampere Equity Fund

DIF took over the fund management of Ampere Equity Fund on 1 January 2014. With a diversified portfolio of renewable energy assets, the fund has invested in projects using proven technology to deliver stable and predictable long-term returns. The fund has sold 6 investments and is targeting to realize further investments.

Final close: December 2008

Capital: €350 million

Target: Renewable energy (wind and solar)

Locations: UK | Netherlands | Germany | Italy | Spain | France

Projects: Operational

2007 Fully invested 18 No. of investments €350m Committed capital

DIF Co-investments

Alongside our main funds, we also offer co-investments. We are currently managing co-investment funds and direct co-investments for a total amount of around €1.15 billion.

Fully invested 20 No. of investments €1.15bn Committed capital

DIF Co-investments

Alongside our main funds, we also offer co-investments. We are currently managing co-investment funds and direct co-investments for a total amount of around €1.15 billion.

Fully invested 20 No. of investments €1.15bn Committed capital