Leroy, Author at DIF Capital Partners

10 April 2018 | Sydney

DIF enters Australian renewable energy joint venture with Synergy and Cbus

DIF Infrastructure V (DIF V) is pleased to announce that it has entered into a joint venture with Synergy and Cbus Super to form Bright Energy Investments (BEI). BEI is to invest in a portfolio of utility scale wind and solar PV power projects located in Australia, with DIF V and Cbus Super to hold about 40% per cent equity interest in BEI, and Synergy to hold about 20%. Synergy is an electricity generator and retailer that is owned by the Western Australian Government.

Initially BEI is to acquire the operational 36MW Albany Grasmere Wind Farm, the 40MW Greenough River Solar Farm (10MW in operation and 30MW in construction) and the proposed 180MW Warradarge Wind Farm. All projects are located in Western Australia. A pipeline of additional projects have also been identified that BEI will look to acquire, subject to certain investment criteria being met.

This investment fits neatly within DIF’s mandate to acquire infrastructure and renewable energy assets that will deliver long-term stable cash flows for the fund. The investment adds to DIF’s existing portfolio of Australian renewable energy assets, including the Royalla, Clare and Bungala solar PV projects.

Marko Kremer, DIF’s Head of Australasia added: “”DIF is excited to enter into this joint venture with Cbus and Synergy, as well as adding a variety of wind and solar farms to its existing investment portfolio. We are excited to be part of the growing Australian renewable energy market, which supports the nation’s commitment to a greener economy, as well as creating job opportunities in Western Australia.””

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €5.1 billion across seven closed-end investment funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies.

The majority of DIF’s funds, including DIF Infrastructure V, target PPP / PFI / P3, regulated infrastructure assets and renewable energy projects.

DIF CIF I targets small to mid-sized infrastructure assets in the telecom infrastructure, rail, energy and utility sectors that generate stable and predictable cash flows that are contracted over the mid-term with highly rated entities.

Both strategies targets both greenfield and brownfield projects in Europe, North America and Australasia.
DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Christopher Mansfield, Partner
Email: c.mansfield@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

17 January 2018 | Schiphol

DIF appoints new Partner

DIF is pleased to announce the appointment of Gijs Voskuyl as a Partner.

Gijs has been with DIF since 2008. From 2008 to 2012 he worked on primary and secondary PPP projects in the UK and continental Europe. He then moved to Toronto to open up the North American market for DIF, focussing especially on P3 and renewable energy projects. Since 2016 Gijs has been based at DIF’s Schiphol office as a Managing Director and Deputy Head of Infrastructure. Prior to DIF, he worked for ING’s infrastructure finance & advisory department in Amsterdam. Gijs holds a Master’s degree at the Technical University of Delft, faculty technology, policy and management.

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €4.6 billion across seven closed-end investment funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies.

The majority of DIF’s funds, including DIF Infrastructure V, target PPP / PFI / P3, regulated infrastructure assets and renewable energy projects.

DIF CIF I targets small to mid-sized infrastructure assets in the telecom infrastructure, rail, energy and utility sectors that generate stable and predictable cash flows that are contracted over the mid-term with highly rated entities.

Both strategies targets both greenfield and brownfield projects in Europe, North America and Australasia.

DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

Wim Blaasse, Managing Partner
Email: w.blaasse@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

21 December 2017 | Sydney

DIF acquires Australian Student Accommodation concession

DIF is pleased to announce that DIF Infrastructure V has acquired a 30 year Purpose Built Student Accommodation (“PBSA”) concession from the University of Tasmania in Australia.

The University of Tasmania is the only university in the Australian state of Tasmania. Under a 30 year concession, DIF as a sole equity sponsor, will operate and maintain a portfolio of approximately 1,800 existing beds across 10 PBSA facilities.

In addition, DIF has a right of first offer for any new PBSA builds, representing a positive long term relationship and pipeline with the University.

Tetris Capital was financial adviser to DIF in relation to this transaction and Corrs Chambers Westgarth acted as legal adviser.

Marko Kremer, DIF’s Head of Australasia added: “DIF is proud to have entered into this partnership with the University of Tasmania to support their academic and educational pursuits.”

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €4.6 billion across seven closed-end investment funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies.

The majority of DIF’s funds, including DIF Infrastructure V, target PPP / PFI / P3, regulated infrastructure assets and renewable energy projects.

DIF CIF I targets small to mid-sized infrastructure assets in the telecom infrastructure, rail, energy and utility sectors that generate stable and predictable cash flows that are contracted over the mid-term with highly rated entities.

Both strategies targets both greenfield and brownfield projects in Europe, North America and Australasia.

DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Paul Nash, Partner
Email: p.nash@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

19 December 2017 | Paris

DIF acquires 55% stake in French fiber project from Infravia

DIF Core Infrastructure Fund I (“DIF CIF I”) and Infravia are pleased to announce that they have completed the sale of Infravia’s 55% stake in the French fiber company ADTIM.

ADTIM operates a wholesale telecom network in the Ardèche and Drôme departments under a 25-year concession awarded in 2008, which is fully operational since 2011. In December 2016, ADTIM, together with its partners Axione, Bouygues E&S and Caisse des Dépôts et Consignations, were awarded the Fiber to the Home (FttH) concession in the region. This second project plans to realize 310,000 FttH connections in association with the public local authority Syndicat mixte ADN as part of France’s 2012 Ultra-Fast Broadband Plan, the nationwide plan to implement ultra-fast internet connections across the country by 2022.

Infravia and DIF CIF I had reached an agreement on the transaction in June 2017.

InfraVia has been advised in the process by the following parties: Weil, Gotshal & Manges LLP (Legal), Lazard (M&A) and H3P (Financial).

About DIF

DIF is an independent and specialist fund management company, managing funds of approximately €4.6 billion across seven closed-end investment funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies.

DIF CIF I targets small to mid sized infrastructure assets in the telecom infrastructure, rail, energy and utility sectors that generate stable and predictable cash flows that are contracted over the mid term with highly rated entities. The fund targets both greenfield and operational projects in Europe, North America and Australasia. The fund recently reached its final close at EUR 450m. DIF’s other funds target PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australasia.

DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Willem Jansonius, Partner
E-mail: w.jansonius@dif.eu

Allard Ruijs, Partner
E-mail: a.ruijs@dif.eu

About Infravia Capital Partners

InfraVia Capital Partners is an investment manager dedicated to the infrastructure sector. InfraVia manages EUR 1.9bn across three infrastructures funds, positioned as long-term investors and dedicated to energy and infrastructure in Europe.

13 November 2017 | Schiphol

DIF Core Infrastructure Fund I achieves final close

DIF is pleased to announce the final close of DIF Core Infrastructure Fund I (“DIF CIF I”) at the hard cap of € 450 million.

Fundraising for DIF CIF I was officially launched in September 2016, with first close occurring in January 2017, and final close in November 2017. DIF CIF I experienced strong backing from both existing and new investors to the DIF platform.

DIF CIF I targets small to mid-sized infrastructure assets in the telecom infrastructure, rail, energy and utility sectors that generate stable and predictable cash flows that are contracted over the mid-term. The fund targets both greenfield and brownfield projects in Europe, North America and Australasia.

DIF CIF I is the first fund raised by DIF that pursues this particular strategy. The strategy is differentiated and complementary to the strategy pursued by DIF’s existing funds – DIF Infrastructure IV and its predecessors – which target PPP/concessions, regulated assets and renewable energy projects.

DIF CIF I has acquired two investments to date: a 25% interest in the Somerton Pipeline in Australia, and a 55% stake in the French fibre company ADTIM. Furthermore, it has a strong pipeline of investment opportunities across its target sectors and geographies targeted by the fund.

DIF Profile

DIF is an independent and specialist fund management company with ca. €4.3 billion assets under management across seven closed-end investment funds and several co-investment vehicles. DIF invests in core infrastructure markets in Europe, North America and Australasia.

DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Willem Jansonius, Partner
E-mail: w.jansonius@dif.eu

Allard Ruijs, Partner
E-mail: a.ruijs@dif.eu

10 August 2017 | Sydney

DIF acquires a 25% stake in a major Jet Fuel Pipeline at Melbourne’s Tullamarine International Airport

DIF Core Infrastructure Fund I (“DIF CIF I”) is pleased to announce that it has acquired a 25% interest in the Somerton Pipeline.

The Somerton Pipeline is a 34km jet fuel pipeline which supplies fuel to Melbourne’s Tullamarine International Airport. It is a vital part of the jet fuel supply chain at Australia’s second busiest airport and supplies the majority of the total fuel demand at the airport.

Marko Kremer, DIF’s Head of Australasia added: “DIF is delighted to add the Somerton Pipeline to its existing investment portfolio. We are excited to be a shareholder of a critical piece of the supply chain infrastructure supporting the Tullamarine Airport.”

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €4.2 billion across seven closed-end investment funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies.

The majority of DIF’s funds target PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australasia.

DIF CIF I targets small to mid-sized infrastructure assets in the telecom infrastructure, rail, energy and utility sectors that generate stable and predictable cash flows that are contracted over the mid-term with highly rated entities. The fund targets both greenfield and operational projects in Europe, North America and Australasia.

DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Willem Jansonius, Partner
E-mail: w.jansonius@dif.eu

Allard Ruijs, Partner
E-mail: a.ruijs@dif.eu

29 June 2017 | Paris

DIF to acquire 55% stake in French fiber project from Infravia

DIF Core Infrastructure Fund I (“DIF CIF I”) and Infravia are pleased to announce that they have reached an agreement on the sale of Infravia’s 55% stake in the French fiber company ADTIM.

ADTIM operates a wholesale telecom network in the Ardèche and Drôme departments under a 25-year concession won in 2008, which is fully operational since 2011. In December 2016, ADTIM, together with its partners Axione, Bouygues E&S and Caisse des Dépôts et Consignations, won the Fiber to the Home concession in the region. This second project plans to realize 310,000 FttH connections in association with the public local authority Syndicat mixte ADN as part of France’s 2012 Ultra-Fast Broadband Plan, the nationwide plan to implement ultra-fast internet connections across the country by 2022.

Infravia and DIF CIF I expect to complete the equity transaction in September 2017.

About DIF

DIF is an independent and specialist fund management company, managing funds of approximately €4.2 billion across seven closed-end investment funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies.

DIF CIF I targets small to mid sized infrastructure assets in the telecom infrastructure, rail, energy and utility sectors that generate stable and predictable cash flows that are contracted over the mid term with highly rated entities. The fund targets both greenfield and operational projects in Europe, North America and Australasia.

DIF’s other funds target PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australasia.

DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

About Infravia Capital Partners

Infravia Capital Partners is an investment manager dedicated to the infrastructure and energy sectors which manages €1.7 billion of assets across three infrastructure funds. Infravia Capital Partners is positioned as a long-term investor across the infrastructure sectors in Europe including transportation, energy, utilities, social infrastructure as well as communications.

For more information, please contact:

Willem Jansonius, Partner
Email: w.jansonius@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

30 May 2017 | Sydney

DIF acquires 125 MW solar project in Australia

DIF Infrastructure IV is pleased to announce the acquisition of 100% of the 125 MW Clare Solar PV project from Fotowatio Renewable Ventures (FRV), via a 50 – 50 joint venture with Lighthouse Infrastructure.

Developed by FRV, the Clare Solar Farm is located around 35 km south-west of Ayr in Northern Queensland. The 125MW (DC) photovoltaic solar farm is currently under construction and is scheduled to commence operations in late 2017. The project will create up to 200 jobs during construction and when completed will generate enough electricity to power approximately 42,000 Queensland homes, abating nearly 200,000 tonnes of CO2e emissions annually.

Origin Energy, a major Australian energy company, has entered into a long-term contract to purchase 100% of the electricity output and large-scale renewable energy certificates (LGCs) generated by the project.

Project finance has been provided to the project by NAB and SMBC.

RBC Capital Markets and Société Générale were financial advisers to Lighthouse and DIF in relation to the acquisition and King Wood Mallesons acted as legal adviser.

Marko Kremer, DIF’s Head of Australasia added: “This acquisition represents DIF’s third large scale solar PV project in Australia, and we are delighted to further extend our relationship with FRV following the acquisition of the Royalla Solar Farm in 2016”.

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Christopher Mansfield, Partner, Head of Renewable Energy
Email: c.mansfield@dif.eu

Allard Ruijs, Partner, Head of Investor Relations & Business Development
Email: a.ruijs@dif.eu

22 May 2017 | London

DIF completes the acquisition of Affinity Water

DIF Infrastructure IV is pleased to announce that its consortium, following the announcement made on 2 May 2017, completed the 100% acquisition of the Affinity Water Group on 19 May 2017.

DIF’s share in the consortium is 26.9%, which in addition comprises of Allianz Capital Partners on behalf of Allianz Group (36.6%) and HICL Infrastructure Company Limited (the listed infrastructure investment company advised by InfraRed Capital Partners Limited) (36.6%).

Affinity Water is the United Kingdom’s largest water only supply company by revenue and population served. It is licenced under the Water Industry Act 1991 and regulated by Ofwat, ensuring long term stable income streams. Affinity Water owns and manages the water assets and network in an area of approximately 4,515 km² in the southeast of England, split over three regions, comprising eight separate water resource zones. The company is the sole supplier of drinking water in these areas. Affinity Water supplies, on average, 900 million litres of water a day to over 3.6 million people, serving 1.5 million homes and businesses, together with operating 98 water treatment works.

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Paul Nash, Partner
Email: p.nash@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

2 May 2017 | Schiphol

Allianz, EDF Invest and DIF to acquire 5% in Autostrade per l’Italia

The Board of Directors of Atlantia, the listed global operator of motorway and airport infrastructure, has accepted a binding offer by Allianz, EDF Invest and DIF to acquire a 5 percent stake in Autostrade per l’Italia, the largest Italian toll road network. The transaction is subject to signing of final contracts over the next days and fulfilment of the conditions precedent therein.

Autostrade per l’Italia is the largest toll motorway concession asset in Europe representing more than 50 percent of Italy’s toll motorway network and 61 percent of kilometers travelled. Autostrade per l’Italia Group’s network of around 3,000 km stretches across 16 Italian regions comprising 21 toll motorways, covering essential transport links mainly in the Northern part of Italy around the major economic urban areas as well as the two principal north-south routes, the A1 Milan-Naples and the A14 Bologna-Taranto.

The consortium is comprised of long-term infrastructure investors Allianz Capital Partners on behalf of the Allianz Group (74%), EDF Invest (20%) and DIF Infrastructure IV (6%) and it will also have a call option on a further 2.5% interest in Autostrade per l’Italia.

“”By investing in a prime core infrastructure in the European toll road sector we will further diversify our infrastructure portfolio across sectors and regions””, said Christian Fingerle, Chief Investment Officer, at Allianz Capital Partners. “We are very pleased to set up a new partnership amongst Allianz and Atlantia as leading international infrastructure operator and to work with them and other investors on the success of this company.””

EDF Invest’s Managing Director, Guillaume d’Engremont said: “Autostrade per l’Italia stands out by the quality of its installations as well as its management. Besides, the network has potential for expansion through projects which are essential for the country. Our stake in Autostrade per l’Italia will ideally complement our core infrastructure portfolio. We are very pleased to further strengthen our relationship with Atlantia, following our joint investment in Aéroports de la Côte d’Azur last year.”

Wim Blaasse, Managing Partner of DIF, said: ”DIF is very pleased to establish this long term relationship with Atlantia and to invest in this high quality and diversified operating toll road network, which is a very good complement to DIF’s infrastructure portfolio”.

The closing of the transaction is expected to occur by the end of July.

For further information please contact:

Allianz Capital Partners
Stefanie Rupp-Menedetter
Tel: +49.89.3800-2743

EDF Invest
Mail: service-de-presse@edf.fr
Tel: +33 1 40 42 46 37

DIF
Allard Ruijs
Mail: a.ruijs@dif.eu

About DIF

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

www.dif.eu

About Allianz Capital Partners

Allianz Capital Partners is the Allianz Group’s in-house investment manager for alternative equity investments. With offices in Munich, London, New York and Singapore Allianz Capital Partners manages approximately EUR 18 billion of alternative assets. The investment focus is on infrastructure, renewables as well as private equity funds. ACP’s investment strategy is targeted to generate attractive, long-term and stable returns while diversifying the overall investment portfolio for the Allianz Group insurance companies.

Allianz represents one of the world’s strongest financial communities, offering a broad range of insurance and asset management services. In 2016, Allianz employed around 140,000 staff in some 70 countries and achieved total revenues of 122.4 billion euros and an operating profit of 10.8 billion euros. Allianz Group managed an investment portfolio of around 653 billion euros. Additionally our asset managers Allianz GI and PIMCO managed 1.3 trillion euros of third party money. Allianz is active in a wide variety of sectors including real estate, infrastructure, renewable energy and equity and debt. Allianz’s long-term value strategies maximize risk-adjusted returns.

www.allianzcapitalpartners.com

About EDF Invest

EDF Invest is the unlisted investment arm of EDF’s Dedicated Assets, the asset portfolio which covers its long-term nuclear decommissioning commitments in France. EDF Invest manages a portfolio of over €4bn equity investments through three asset classes: infrastructure, real estate and private equity.

The existing infrastructure portfolio includes stakes in RTE (the French electricity transmission company), Géosel (an oil storage company based in Manosque), Thyssengas (the third largest gas TSO in Germany), Aéroports de la Côte d’Azur (the second largest French airport operator, in joint control with Atlantia), TIGF (a gas transport and storage company operating in the South-West of France), Madrileña Red de Gas (the operator of the main gas distribution network in the region of Madrid) and Porterbrook (one of the three main rolling stock owning companies in the UK).

www.edfinvest.com

2 May 2017 | London

DIF together with its consortium partners acquires Affinity Water

DIF Infrastructure IV together with its consortium partners HICL Infrastructure Company Limited (advised by Infrared Capital Partners Limited) and Allianz Capital Partners on behalf of Allianz Group has signed an agreement to acquire 100% of the equity interest in Affinity Water Acquisitions (Investments) Limited (“Affinity Water”) from funds managed by Morgan Stanley and InfraCapital. DIF initiated the process and was subsequently joined by its consortium partners. The transaction is expected to complete in May 2017.

Affinity Water is the United Kingdom’s largest water only supply company by revenue and population served. It is licenced under the Water Industry Act 1991 and regulated by Ofwat. Affinity Water owns and manages the water assets and network in an area of approximately 4,515 km², split over three regions, comprising eight separate water resource zones, in the southeast of England. The company is the sole supplier of drinking water in these areas. Affinity Water supplies, on average, 900 million litres of water a day to over 3.6 million people, serving 1.5 million homes and businesses, together with operating 98 water treatment works.

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Paul Nash, Partner
Email: p.nash@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

12 April 2017 | London

DIF closes two additional UK PFI Streetlighting projects

DIF Infrastructure IV is pleased to announce that it has acquired from SSE PLC (“SSE”) a 100% interest in the Leeds and Stoke PFI Streetlighting projects located in the two metropolitan boroughs of Leeds and Stroke-on-Trent (the “Projects”).

Today’s announcement follows the earlier announcement at the end of March 2017, when DIF acquired the Newcastle & North Tyneside UK PFI Streetlighting project.

The Leeds project consists of circa 105,000 street lighting assets and the Stoke project consists of approximately 40,000. The Projects are availability based and have all been operating for over 5 years. The concessions run till respectively 2031 and 2028, and the Projects benefit from long term financing provided by RBS. Operations and lifecycle will continue being performed by an affiliate of SSE under a long term contract.

DIF has been advised by Operis (Financial), WSP (Technical) and Osborne Clarke (Legal).

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Paul Nash, Partner
Email: p.nash@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu