28 August 2020  |  Toronto

DIF Capital Partners invests in 900 MW Canadian power project

DIF Capital Partners, through DIF Infrastructure VI (“DIF”), is pleased to announce its investment in the 900-megawatt Cascade Power Project (“Cascade” or the “Project”) in Canada. Together with joint equity sponsors OPTrust and Axium Infrastructure, DIF will invest in the construction of Cascade. The equity sponsors and its development sponsors Kineticor and Macquarie Capital, successfully closed financing of the CAD 1.5 billion Project today, including securing non-recourse project financing.

Cascade is a 900-megawatt combined cycle natural gas-fired generating facility to be located near Edson, Alberta. Siemens Energy will provide two highly efficient single shaft SCC6-8000H power trains and provide maintenance support under a long-term service agreement. Cascade is strategically situated in proximity to significant gas production as well as the NGTL System and high voltage electrical transmission lines, an important competitive advantage for Cascade. Construction will start immediately with commercial operations commencing in 2023. Cascade is contracted and benefits from long-term gas netback agreements which provide cashflow stability and downside protection once the project is commissioned.

Cascade will lead the transition to a lower carbon intensive power grid in Alberta by supporting the province’s transition off coal-fired power, generating low emissions electricity that is expected to supply over 8 percent of the province’s average demand. With Alberta contributing over 50 percent of Canada’s greenhouse gas emissions from electricity generation, Cascade is expected to result in one of the largest emissions reduction opportunities in the country’s electricity sector.

BPC, a joint venture between affiliates of PCL Construction and Overland Contracting Canada, Inc., a Black & Veatch Company, will construct the facility under an Engineering, Procurement and Construction Services contract with Kineticor acting as construction and asset manager. Cascade will additionally benefit the local community with over 3 million work hours of labour required for construction, creating approximately 600 jobs during peak construction as well as 25 long-term jobs during operation.

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.6 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.

DIF has a team of over 145 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

19 August 2020  |  London

DIF Capital Partners acquires majority stake in UK fibre broadband operator

DIF Capital Partners, through its DIF Core Infrastructure Fund II (“DIF CIF II”), is pleased to announce that it has completed the acquisition of a majority stake (54%) in 4th Utility, a fibre-to-the-premise (“FTTP”) infrastructure developer and internet service provider based in Hale, Manchester (UK).

4th Utility partners with residential and commercial landlords, property developers and house builders to design, install and upgrade their properties with state-of-the-art FTTP infrastructure.

4th Utility currently operates FTTP networks within a number of residential property developments in the North of England. DIF CIF II will provide significant capital to fund a large pipeline of opportunities generated by 4th Utility with their development partners throughout the UK.

“We are excited to partner with DIF Capital Partners who share our desire to invest in high-quality fibre infrastructure providing ultrafast internet access to properties across the UK. This long-term investment allows us to expand our current platform and provide ‘full fibre’ connectivity to a significant number of new customers” comments Tony Hughes, CEO of 4th Utility.

The transaction is the first investment for DIF CIF II in the UK and its third investment in the digital infrastructure sector following recent acquisitions in Canada and France. “We are pleased to bring our experience in digital infrastructure to support 4th Utility and their management team in delivering FTTP infrastructure investment to underserved properties in the UK” comments Willem Jansonius, Head of DIF CIF.

Please visit www.the4thutility.co.uk for further information.

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.5 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the telecom, energy and transportation sectors.
  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.

DIF has a team of over 145 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Thijs Verburg, IR & BD; t.verburg@dif.eu.

17 August 2020  |  Paris

DIF Capital Partners to acquire a stake in TTIA Container Terminal

DIF Capital Partners (“DIF”), through its DIF Core Infrastructure Fund I (“CIF I”), and French shipping giant CMA CGM, are pleased to announce that they have signed a sale and purchase agreement with HMM for the acquisition of a 50% less one share stake in the TTIA Container Terminal in Algeciras, which is located on the Spanish side of the Strait of Gibraltar. TTIA is currently 100% owned by HMM, the largest South Korean shipping line.

TTIA is a modern semi-automatic container terminal, strategically located in the bay of Algeciras, at the Strait of Gibraltar directly on the main shipping routes for containerized maritime traffic to Asia, Europe, the Mediterranean, North and West Africa as well as North and South America. Such a strategic location has allowed the terminal to maintain strong volumes despite the Covid-19 crisis. TTIA operates under a concession provided by the Port of Algeciras Bay Authority which runs until 2043.

TTIA will benefit from long-term support from both HMM and CMA CGM, who as major shipping companies and port operators, have decided to join forces to support and develop this strategic terminal.

Thomas Vieillescazes, partner of DIF, says: “We are delighted to initiate this partnership with CMA CGM, investing alongside world-leading shipping companies and port operators. TTIA is a modern and well-managed terminal, strategically located at the Strait of Gibraltar, with partners providing long-term volume support, making this an attractive investment for CIF I”.

The completion of the acquisition remains subject to certain conditions precedent, including antitrust and Algeciras Port Authority consents.

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.5 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the telecom, energy and transportation sectors.
  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.

DIF has a team of over 145 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Thijs Verburg, IR & BD; t.verburg@dif.eu.

10 August 2020  |  Frankfurt

DIF Capital Partners to acquire a stake in European railcar leasing company Touax Rail

DIF Capital Partners (“DIF”), through its DIF Core Infrastructure Fund II (“CIF II”), is pleased to announce that it has signed an agreement to acquire a 49% stake from the Touax Group in Touax Rail Limited (“Touax Rail” or the “Company”), a leading European rail freight leasing company, via a capital increase of €81.9 million. The investment by CIF II will enable Touax Rail to accelerate the development of its long-term leasing activities of freight wagons.

Touax Rail is offering tailor-made and environmentally friendly solutions for leasing rail equipment such as intermodal, car carrying, hopper, box and tank wagons. Services offered comprise leasing, sale and maintenance of freight railcars. The Company has a fleet size of c. 6,930 owned platforms and c. 4,080 managed platforms. Touax Rail is fully certified to manage and maintain wagons used on the mainline railway tracks in Europe.

The transaction will strengthen the position of Touax Rail by increasing its capacity to grow and finance the needs of its customers. The capital increase will be primarily used to buy out minority shareholders and to finance the acquisition of new wagons.

Fabrice Walewski, CEO of Touax Group, said: “We are very delighted to have DIF Capital Partners as partner to accompany the development of our long-term leasing activities of freight wagons. With this transaction, Touax Rail will strengthen its position in the market.”

Carl Jobst von Hoersten, partner and head of DIF Germany added: “This transaction is a unique investment providing exclusive access to the attractive railcar market. Touax Rail is a well-established, asset heavy railcar platform with a robust and resilient business model which is well-positioned for growth. We look forward working together with Touax Rail’s highly experienced management team to further grow the platform.”

The transaction is subject to approval by the German antitrust authorities. Parties expect to close the transaction by the end of September.

About Touax Group

Touax Group leases out tangible assets (freight railcars, river barges and containers) on a daily basis throughout the world, for its own account and on behalf of third party investors. With €1.2 billion under management, Touax Group is one of the European leaders in the operational leasing of this type of equipment. For more information: www.touax.com

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.5 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the telecom, energy and transportation sectors.
  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.

DIF has a team of over 145 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Thijs Verburg, IR & BD; t.verburg@dif.eu.