30 November 2021  |  Schiphol

DIF Capital Partners releases ESG annual report “Our path to Net Zero”

Today, DIF Capital Partners (“DIF”) publishes its ESG report “Our path to Net Zero” outlining its ambitions and contributions to ESG and climate change over the last year. We are proud to report significant continuing progress since we reached A+ UNPRI scores for our ESG approach last year. Over the years DIF has successfully embedded ESG in its investment principles, policies and processes.

Sustainable management of our investments

ESG improvements remain a corporate priority and active engagement with our investments is key to our success. ESG is considered in all stages of the investment cycle, from initial ESG screening during the investment phase to annual ESG actions plans. Our focus is on five areas which we see as most relevant to the sustainable management of investments: Governance, Safety, Environment, Human Capital & Community and Climate Resilience.

We have realized significant performance improvements across these five core ESG areas by creating individual plans for each investment and by closely monitoring progress. This included among others the implementation of higher safety standards, increased investments in local communities and enhanced management of climate risk.

In addition, we outline the positive contribution of our portfolio to the UN Sustainable Development Goals and the intrinsic public benefit of these investments.

A huge step forward is our decision in 2021 to commit ourselves to become a Net Zero investment manager – in line with the global effort to achieve net zero greenhouse gas emissions by 2050 or sooner.

Looking ahead

Core to our business is an appreciation of the strong connection between our investments, their users and our own employees. That’s why we pride ourselves in taking care of our own people and communities, in “walking the talk” on the environment and promoting diversity and equality of opportunity.

The decisions made during COP26 Glasgow indicate that global leaders are aware of the fact that now is the time to act to stop global warming. DIF will continue its focus on a net zero future and increase its sustainability efforts across its portfolio and the organization. This is how DIF contributes to ensure a safer and energy efficient world that is focused on a positive impact on local communities.

More information on the progress made on the DIF Path to Net Zero and contributions to the UN Sustainable Development Goals can be read by downloading the DIF ESG Report 2021.  

 

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with more than €9.0 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australasia through two complementary strategies:

  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy transition, and transportation sectors.
  • Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.

DIF Capital Partners has a team of over 170 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact:

Allard Ruijs, IR & BD
Email: a.ruijs@dif.eu

24 November 2021  |  Helsinki

DIF Capital Partners to acquire Plugit, a leading Finnish EV charging infrastructure company

DIF Capital Partners (“DIF”), a leading global independent infrastructure investment manager, is pleased to announce that it has reached an agreement to acquire a 71% stake in Plugit Finland Oy (“Plugit”), a leading EV charging infrastructure company in Finland, through DIF CIF II (the “Fund”).

Founded in 2012, Plugit has become one of the largest EV charging infrastructure companies operating in the Finnish market. It has an installed base of ca. 4k charge points, has provided services to ca. 300 business customers to date and employs ca. 60 people. Plugit delivers and operates charging infrastructure projects for businesses and public sector organisations. It provides complete turnkey solutions, including design, hardware provision, operations, maintenance and end-to-end software. Plugit also offers a fully-funded Charging-as-a-Service (“CaaS”) product, where it funds the upfront capex and owns the EV charging infrastructure that it installs, in return for fixed availability-based lease payments from customers.

Supported by DIF, Plugit will expand its CaaS product and plans to build-out the amount of infrastructure that it funds and owns. The CaaS product addresses a key obstacle for Plugit customers as it removes the hurdle of them having to fund high capex amounts upfront and enables customers to transfer technology and operational responsibilities to an experienced player in the sector.

The management team will continue to remain invested in the company.

Willem Jansonius, Partner and Head of Investments for the DIF CIF strategy, says: “DIF believes that the electrification of transportation will play a critical role in reducing carbon emissions. We are excited to invest in such a well-established EV charging company, in order to speed up the rollout of charging infrastructure across Finland and abroad. We look forward to working with a highly experienced management team to accelerate Plugit into the next phase of its growth.”

Tommi Saarela, CEO of Plugit, adds: “We are excited about this unique opportunity to accelerate, our already fast and profitable growth, even further in the area of e-mobility. Partnering with DIF will enable us to meet our strategic objective of ten folding our business by 2025. DIF will provide us, not only the growth equity, but substantial financial resources enlarging and scaling up our CaaS services in Finland and other markets.”

Plugit was advised by Krogerus (legal) and PwC (M&A). DIF was advised by Avance (legal), Improved (M&A), Boston Consulting Group (commercial), Deloitte (financial) and DNV (technical).

Closing of the transaction is expected to take place before 2021YE.

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with more than €9.0 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australasia through two complementary strategies:

  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy transition, and transportation sectors.
  • Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.

DIF Capital Partners has a team of over 170 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact:

Allard Ruijs, IR & BD
Email: a.ruijs@dif.eu

11 November 2021  |  Schiphol

DIF Capital Partners closes its ESG equity bridge facility

DIF Capital Partners (“DIF”) is pleased to announce that it has increased its equity bridge facility with ESG linked performance criteria to EUR 900 million. The facility was closed by DIF Infrastructure VI (“DIF VI”) and is provided by a club of banks comprising ABN AMRO, Rabobank, BMO, CIBC, ING Bank and CBA, with ABN AMRO acting as agent.

This is DIF’s first ESG equity bridge facility, evidencing the company’s desire to positively contribute to a sustainable future for the environment and society in general. The facility contains a set of ESG KPIs related to the ESG performance of DIF as a manager and the ESG performance improvement of the underlying portfolio on key ESG areas such as safety, environment, climate resilience and community, including third party assurance.

In return, DIF VI benefits from a reduction in margin on the facility upon meeting those KPIs, reflecting the lenders’ own ESG support and commitment to a sustainable future.

“We are delighted to be working again with our long term partners ABN AMRO, Rabobank, BMO, CIBC, ING Bank and CBA in relation to this very innovative facility with clearly described ESG KPIs. This closing confirms and strengthens DIF’s position as leader in the ESG space within the private equity community and we continue to be committed to deliver a positive contribution to a sustainable future” said Robert Doekes, CFO at DIF Capital Partners.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with more than €9.0 billion in 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:

  • Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds, of which DIF CIF II is the latest vintage, target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy, and transportation sectors.

DIF supports the goal of Net Zero greenhouse gas emissions by 2050, in-line with global efforts as a result of the Paris Agreement to have net zero emissions by 2050, or sooner.

DIF Capital Partners has a team of over 170 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact:
Allard Ruijs, IR & BD
Email: a.ruijs@dif.eu

9 November 2021  |  New York

DIF Capital Partners to invest in US fiber platform Joink

DIF Capital Partners (“DIF”), via DIF CIF II (the “Fund”), is pleased to announce that it has reached an agreement with Joink, LLC (“Joink” or the “Company”) to be its growth capital partner, opening the door to significantly more investment and growth. Joink is a telecommunications infrastructure company that currently provides enterprise fiber, residential fiber, and fixed wireless services in Western Indiana and Eastern Illinois. Subject to regulatory approval, the partnership with DIF will allow Joink to expand its fiber optic network to residential and enterprise customers at a much faster pace.

Joink started providing internet service to residents and businesses in Eastern Illinois and Western Indiana in 2001 using fixed wireless. Since 2014, the Company has expanded to serve thousands of end users in West Central Indiana with fiber, including priority infrastructure for education, healthcare, enterprise, and other telecommunications carriers. It has always been Joink’s intention to further extend its fiber to the single-family home and multi-dwelling unit offerings. Joink currently has 88 employees and growing.

“DIF believes the future fiber-to-the-home roll out is critical to ensure that residents in Indiana and Illinois have reliable high-speed internet access through Joink’s fiber network. DIF is excited to partner with a well-established fiber and fixed wireless company such as Joink and its experienced management team. Joink’s approach to investing in residential fiber infrastructure fits DIF’s ambition to invest in the US fiber industry. In addition to creating local jobs, this investment helps bridge the digital divide in online education, remote employment opportunities, telemedicine and other prospects afforded by broadband access” said Willem Jansonius, Partner and Head of Investments for the DIF CIF strategy.

“We are grateful for the support in growing our business from our team members and their families, our customers, vendors, long-term investors and financing partners, permitting authorities, state and local government, and the communities in which we live and work,” says Josh Zuerner, Joink President and CEO. “That support has enabled us to attract the investment from DIF – a world-class infrastructure investment fund. We don’t take the trust we’ve gained over the last twenty years for granted and will continue to build upon it by showcasing our unwavering commitment to high-quality Internet access.”

While DIF is investing in Joink, all existing investors will continue to remain invested in the Company. Hank Stephens, one of the earliest investors in Joink, notes, “When Brian Wick and I decided over 20 years ago to invest in a startup company in Terre Haute called Joink, we were excited about the potential Joink had to provide Internet service to people with limited or no options. As we look back today, I don’t think either of us could have envisioned the tremendous impact that Joink would ultimately have on the residents and businesses of West Central Indiana. We are grateful to the Joink employees as well as our fellow investors who have helped get Joink to where it is today and are excited about this new partnership and opportunity to expand further.”

Cowen and Company served as financial advisor to Joink. Agentis Capital served as financial advisor to DIF.

About Joink

Joink is Midwest’s leading providers of wireless Internet service in rural markets in Indiana and Illinois. Joink has installed over 540 miles of fiber in the five-county area and offers service to enterprise, commercial, carrier, and residential customers. Joink’s main fiber network ring connects Vigo, Vermillion, Parke, and Clay County. It also has fiber-optic assets throughout Sullivan County. Joink operates over 100 fixed-wireless transmit points. Building and maintaining a large network requires tremendous knowledge and expertise, and customers grew to recognize and count on that expertise. As a result, they increasingly leaned on Joink to assist them when faced with technology challenges. Joink addresses these challenges through its Hosting, Technology Services, and Managed Services divisions. Last year, the State of Indiana awarded seven Indiana Next Level Connects Projects to Joink.  Additionally, Vigo County Government and the City of Terre Haute supported the Vigo County School Corporation in extending Joink’s network to 84 community access locations. More info: http://www.joink.com

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with more than €9.0 billion in 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:

  • Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds, of which DIF CIF II is the latest vintage, target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy, and transportation sectors.

DIF supports the goal of Net Zero greenhouse gas emissions by 2050, in-line with global efforts as a result of the Paris Agreement to have net zero emissions by 2050, or sooner.

DIF Capital Partners has a team of over 170 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact:
Allard Ruijs, IR & BD
Email: a.ruijs@dif.eu

1 November 2021  |  Toronto

DIF Capital Partners makes senior IR hire to cover North America

Continuing to build on the firm’s growing North American investor base and in anticipation of upcoming fundraisings initiatives, DIF Capital Partners (“DIF”) is excited to announce the expansion of its investor relations & business development team with a senior hire in North America.

Toms Lokmanis is joining as a Senior Director, based in Toronto, and will be responsible for covering the North American institutional market, including DIF’s existing investors and investment consulting firms. Toms brings over 12 years of industry experience. Prior to joining DIF, Toms worked at CBRE Caledon, now CBRE Investment Management (“CBRE”), out of the Toronto office, where he focused on growing the firm’s managed infrastructure and real estate strategies. Before CBRE he worked at Manulife Investment Management and Industrial Alliance in senior institutional sales roles. Toms is a CFA Charterholder and Chartered Alternative Investment Analyst (CAIA) and holds a B.A. Honours in Economics from McMaster University.

Allard Ruijs, Partner and Head of Investor Relations & Business Development: “I am very happy to welcome Toms to DIF Capital Partners. We believe he is a great first local hire for the IRBD team contributing his strong personal North American reputation, a relevant investor network as well as significant capital raising experience. Toms will lead in further developing DIF’s investor network and strengthening of the DIF brand positioning in North America.”

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with more than €9.0 billion in 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:

  • Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds, of which DIF CIF II is the latest vintage, target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy, and transportation sectors.

DIF supports the goal of Net Zero greenhouse gas emissions by 2050, in-line with global efforts as a result of the Paris Agreement to have net zero emissions by 2050, or sooner.

DIF Capital Partners has a team of over 170 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact:
Allard Ruijs, IR & BD
Email: a.ruijs@dif.eu