DIF invests in a wide range of international, high-quality infrastructure projects that generate stable, long-term cash-flows. We currently manage around €5.6 billion of assets across seven 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 greenfield and operational infrastructure projects across Europe, North America, South America 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), regulated 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. 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 Core Infrastructure Fund I (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 Investing 11 No. of investments €450m Committed capital

DIF Infrastructure V (DIF V)

DIF V is currently investing 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 | Australasia

Projects: Greenfield | Operational

2017 Investing 18 No. of investments €1.9bn Committed capital

DIF Infrastructure IV (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 Infrastructure III (DIF III)

DIF III has made 56 investments around Europe and North America. The fund is focused on actively monitoring and optimising projects, and divesting (portfolios of) assets selectively. In September 2017, the fund sold its share of 12 investments that were jointly held with DIF II as part of the sale of the entire DIF II portfolio. In 2018 the fund sold 11 solar assets in Canada, UK and France and its stake in the A63 toll road in France. It is targeting to realize further investments in the coming years.

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 invested 56 No. of investments €800m Committed capital

DIF Infrastructure II (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 Renewable Energy (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 Infrastructure Yield I (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 four co-investment funds and direct co-investments for a total amount of around €332 million.

Fully invested 11 No. of investments €332m Committed capital