25 July 2024  |  Frankfurt

CVC DIF to acquire leading German aviation ground service equipment lessor HiSERV

  • HiSERV owns a fleet of more than 5,000 vehicles across 30 European airports
  • CVC DIF backing will support further growth in the wider European market

CVC DIF, the infrastructure strategy of leading global private markets manager CVC (via its CIF III fund), has agreed the acquisition of HiSERV, the German market leader in aviation ground service equipment (GSE) leasing from AVECO Holding.

HiSERV engages in GSE leasing and maintenance and repair services through its network of workshops across European airports. It serves a blue chip customer base of independent ground handlers, airlines and airport operators. The company owns and services a fleet of over 5,000 units varying from motorised pushback tractors and belt loaders to non-motorised dollies and baggage carts. HiSERV is headquartered in Berlin, Germany, and serves over 60 customers across more than 30 European airports.

HiSERV will be acquired from AVECO Holding, a German family holding predominantly active in facility services. In 2017, the current CEO of HiSERV Roland Ückert spun HiSERV out of WISAG Aviation Service, a leading multinational ground handler and airport service provider, with a view to establish a superior GSE leasing offering to the broader market.

The company has shown significant growth on the back of strong post-covid aviation sector recovery and a focus on delivering high-quality equipment and services to its customers. Now that HiSERV continues as a stand-alone company backed by CVC DIF, a next phase of growth lies ahead as a pan-European GSE platform.

“HiSERV has been revolutionising the GSE leasing market since 2017 by delivering premium quality at fair and transparent prices. I am thankful for the support provided by AVECO Holding in building up the company over the years and am very excited about the next chapter of growth with CVC DIF, where we can continue to enable to serve our customers to be competitive in ground handling on a pan-European level. There are significant growth opportunities for HiSERV ahead and we are keen to be supported by CVC DIF in the next phase,” said Roland Ückert, CEO of HiSERV.

Willem Jansonius, Partner and Head of CIF Investments at CVC DIF, commented: “We are impressed by HiSERV’s strong growth and relentless focus on delivering high-quality GSE and services to its customers across Europe. GSE is essential infrastructure for the aviation industry and the further electrification of the fleet will positively contribute to the energy transition of the wider industry. HiSERV is a strong platform to expand market share in the growing GSE leasing market both organically and inorganically and we look forward to working closely with Roland and his team.”

Michael C. Wisser, CEO at AVECO Holding, added: “I am proud of HiSERV’s growth path, driven by a strong team of dedicated people and their unwavering focus on customer excellence. The company is now ready for its next phase of growth to make its high-quality services available throughout the whole of Europe and CVC DIF is the perfect partner to make this happen.”

The transaction is subject to customary regulatory approvals and expected to close in Q3 2024.

 

About HiSERV

HiSERV is the German market leader in ground service equipment (GSE) leasing with a strong European foothold. Since 2017, HiSERV provides customers with the best possible fleet design at airports to optimize, and thus save, elementary resources in the long term. This is done by offering premium quality, great flexibility, and smart GSE at a fair and transparent price. The large fleet of over 5,000 units are an essential part to the aviation infrastructure.

For more information, please visit: www.hiserv.aero

About CVC DIF

CVC DIF (formerly DIF Capital Partners) is a leading global mid-market infrastructure equity fund manager.

Founded in 2005 and headquartered in Amsterdam, the Netherlands, CVC DIF has c.€18 billion of infrastructure assets under management in energy transition, transport, utilities and digitalisation.

With over 240 people in 12 offices, CVC DIF offers a unique market approach, combining a global presence with the benefits of strong local networks and sector-focused investment capabilities.

CVC DIF forms the infrastructure strategy of leading global private markets manager CVC. This partnership allows CVC DIF to benefit from CVC’s global platform, with 29 offices across five continents.

For more information, please visit www.dif.eu or follow us on LinkedIn.

About AVECO Holding

AVECO Holding is a non-listed stock corporation. It unites the business areas of WISAG with WISAG Facility Service as a full-service provider for real estate services, WISAG Industry Service as a specialist for support services for industry and WISAG Aviation Service as a full-service provider for ground handling services. AVECO Holding is family-owned and located in Germany.

For more information, please visit: www.aveco.de

 

Press contacts:

For CVC DIF

Renate Klöters

press@dif.eu

For AVECO Holding

Jana Lorena Eggert

jana.eggert@wisag.de

HiSERV
5 July 2024  |  Paris

CVC DIF agrees to sell stake in France LNG Shipping to KKR-backed Ocean Yield

The strategic partnership and investment provided by CVC DIF funds has led to substantial expansion in FLS’ fleet of Liquefied Natural Gas ships

CVC DIF is pleased to announce that it has agreed to sell a 29% economic interest in France LNG Shipping (FLS), which operates state-of-the-art Liquefied Natural Gas (LNG) carrier vessels under long-term charters to tier-one European energy companies.

CVC DIF’s stake in FLS, held through its CIF I and CIF II funds, will be acquired by Ocean Yield AS, a ship-owning company with investments in vessels on long-term charters. Ocean Yield AS is wholly owned by KKR Global Infrastructure Investors IV, a fund managed by KKR.

Over the past five years, CVC DIF and FLS’s management team have partnered with some of the most well-known players in the maritime industry to establish a leading, integrated French LNG ship owning platform. During this period, LNG has proven to be essential to global energy security.

Willem Jansonius, Partner and Head of CIF Investments at CVC DIF, said: “This transaction is a perfect example of CVC DIF’s value-add strategy as FLS is a bigger and better business now than it was in 2019.”

“A key CVC DIF objective is to support growing infrastructure businesses on the back of strong positive sectorial trends and realise attractive returns for our investors. We are proud of the development of the FLS platform and pleased to see a new partner coming in to support its future growth.”

FLS is a 50:50 joint-venture between Nippon Yusen Kabushiki Kaisha (NYK), a leading Japanese shipping company, and French company Geogas LNG. Geogas LNG is jointly owned by CVC DIF, Access Capital Partners and Geogas Maritime, a leading French ship-owner that has been active in the market for the past 45 years.

In November 2019, the CIF I fund closed an investment to finance an initial batch of five newbuild LNG vessels through FLS. In 2021 and 2022, the CIF II fund also invested in FLS to finance the acquisition of Gazocean, a French ship management company which has operated LNG vessels for more than 60 years, and the addition of three more vessels.

Closing of the transaction is subject to conditions and is expected to take place in the second half of 2024.

CVC DIF was advised on the transaction by Rothschild & Co (financial), Orrick, Herrington & Sutcliffe (legal, corporate), Watson Farley & Williams (legal, project), FTI Consulting (commercial), DNV (technical & environmental), KPMG (tax), 8Advisory (accounting) and Marsh (insurance).

 

About CVC DIF 

CVC DIF (formerly DIF Capital Partners) is a leading global mid-market infrastructure equity fund manager.

Founded in 2005 and headquartered in Amsterdam, the Netherlands, CVC DIF has c. €18 billion of infrastructure assets under management in energy transition, transport, utilities and digitalisation.

With over 240 people in 12 offices, CVC DIF offers a unique market approach, combining a global presence with the benefits of strong local networks and sector-focused investment capabilities.

CVC DIF forms the infrastructure strategy of leading global private markets manager CVC. This partnership allows CVC DIF to benefit from CVC’s global platform, with 29 offices across five continents.

For more information, please visit www.dif.eu or follow us on LinkedIn.

 

Press contact:

DIF Capital Partners: press@dif.eu

FLS
3 July 2024  |  Schiphol

Completion of acquisition DIF Capital Partners by CVC

DIF Capital Partners is pleased to announce that the CVC acquisition of an initial 60% stake in DIF has been completed.[1]

We are delighted to start this next phase of our journey in a joint partnership with CVC. To benefit from the strength of both brand names, our infrastructure business will be renamed CVC DIF going forward. The investment strategies, the composition of the Investment Committees and the branding of the individual investment strategies remain unchanged.

Furthermore, Wim Blaasse, Managing Partner and Head of CVC DIF has announced he will transition to the role of Chair effective on 1 July 2025. From that date, Gijs Voskuyl will be stepping into his position and will head the company as Managing Partner, together with the partner group. Wim Blaasse will remain fully involved in helping drive the business over the next several years, including continuing to chair the investment committees. Gijs joined DIF in 2008 and, alongside Wim, has played an instrumental role in building the DIF platform over the past sixteen years.

Read the press release here.

 

[1] With an additional 20% to be acquired shortly after 31 December 2026 and the final 20% to be acquired shortly after 31 December 2028.

Wind farm
24 June 2024  |  Paris

DIF high speed fibre portfolio company ielo closes EUR 208 million senior debt financing

DIF Capital Partners (via its CIF II fund) and ielo’s founding shareholders are pleased to announce that DIF portfolio company ielo, a leading French high speed fibre provider, has closed a EUR 208 million senior debt financing to refinance its existing debt and support its growth ambitions.

ielo is the sole neutral wholesale provider of high-speed Fibre-to-the-Office (FTTO) infrastructure with a countrywide presence in France. It covers 3,300 municipalities and provides guaranteed high-bandwidth connectivity to a client base of 400+ wholesale customers.

DIF made its first investment in ielo in 2020. Since then the company has accelerated the deployment of its fibre optic infrastructure network from c. 2,000km to 27,000km.

The financing package comprises senior loans provided by a club of senior lenders including NAB, NordLB, EdRAM, LCL, NIBC and LBPAM. There is a further uncommitted accordion facility available to support the business plan by expanding the financing when required.

The successful financing provides further momentum to ielo’s progress in expanding and densifying its neutral wholesale fibre network across France. The transaction is a testament to DIF’s value creation capability and ability to secure competitive financing for critical infrastructure projects.

Willem Jansonius, Partner and Head of CIF at DIF, comments: “ielo is a tremendously successful growth story in high speed fibre. Its outstanding operational performance and customer focus make it an exceptional player in its market. This financing will power the next stage of its development.”

DIF was advised by RBC Capital Markets, Latham & Watkins and Dentons. Lenders were advised by A&O Shearman.

 

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with more than EUR 18 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe and North America.

DIF follows two strategies: its traditional DIF funds invest in infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as concessions. The firm’s CIF funds invest in companies with strong growth potential that are active in infrastructure sectors such as digital infrastructure, energy transition and sustainable transportation.

With a team of over 240 professionals in 12 offices, DIF offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, Milan, New York, Paris, Santiago, Sydney and Toronto.

In September 2023, CVC, a leading global private markets manager, announced that it would be acquiring a majority stake in DIF Capital Partners. Closing of the transaction is subject to regulatory approvals and is expected early July 2024.

For more information, please visit www.dif.eu or follow us on LinkedIn.

About ielo 

ielo is an independent French telecoms infrastructure operator specialising in very high-speed fibre optic networks, providing a high-quality solution to the needs of the business and local authority markets.

Now operating in more than 3,300 municipalities, ielo offers a network dedicated to the uses of the business customers of its operator partners and assists local authorities in rolling out their own networks to support their public service missions. ielo’s next-generation infrastructure is designed, deployed and maintained internally to offer the highest level of availability. In 2024, ielo had 330 employees, including 200 technicians, working in 12 Regional Technical Centres to provide a consistent, controlled quality of service.

 

Press contact:

DIF Capital Partners: press@dif.eu

ielo
4 June 2024  |  New York

Keynote interview on Digital Infrastructure in North America

Our partner and Head of Digital Infrastructure Kanan Joshi is featured in a keynote interview in Infrastructure Investor magazine.

“Everyone wants a strong broadband internet connection, and people in rural areas especially do not want to be left behind. Post-pandemic, there is unabated demand for fibre nationwide, particularly in small towns and rural and underserved communities. That shift of population and employment out of the biggest cities is also driving greater demand for fibre and data centres.”

Read the interview here.

Kanan Joshi
18 April 2024  |  London

Global Insights Series: the Future of Renewable Energy

DIF Capital Partners recently hosted its Global Renewable Energy & Storage Industry Days. This two-day event brought together industry advisors, portfolio company leadership and DIF’s global team of in-house energy transition experts, to discuss industry trends, opportunities and challenges in the evolving renewable energy landscape.

This Global Insights Series publication summarizes the key takeaways of the event.

As a leading global mid-market infrastructure manager, DIF is proud to have a proven track record of investing in and scaling up companies that are enabling the energy transition.

The decarbonization of the global economy represents a large-scale and attractive investment opportunity – from renewable power generation, to more efficient heating and cooling of buildings via district heating and geothermal solutions, to conversion of waste into energy, to the electrification of transport.

The themes addressed in the report include:

  • The push to achieve science-based carbon reduction targets coupled with rising electricity use has led to accelerating demand for renewable energy from governments, utilities, corporates and individuals alike.
  • Providing renewable energy direct to corporates and industrials is a growing market for renewables providers, with many large businesses still unaware of how it can help them hit their net zero targets.
  • A significant amount of public and private capital will be required to execute the energy transition.
  • The influx of capital into building intermittent renewable generation, but without the commensurate investment into upgrading and reinforcing power grid infrastructure is resulting in widespread grid congestion and curtailment. However, colocation with storage or other technologies, and strategic siting of assets can help to mitigate this risk.
  • Geopolitical disruption in Europe (and the world) has further increased focus on security of supply and reducing reliance on fossil fuels. In North America, the Inflation Reduction Act represents the largest government incentive package for the renewable energy industry to date.

Read the report here: DIF Global Insight Series – The Future of Renewable Energy (April 2024).

Renewable Energy
18 April 2024  |  Paris

DIF Capital Partners enters into exclusive negotiations to acquire TDF fibre business

DIF Capital Partners, a leading global infrastructure fund manager, has entered into exclusive negotiations with TDF and La Banque des Territoires to acquire the fibre business of the TDF Group, the operator of infrastructure and digital networks.

TDF Fibre is a French fibre business owned by TDF (79.5%) and Banque des Territoires (20.5%). The company owns four public-initiative networks under concession agreements that are all fully operational: Val d’Oise Fibre, Val de Loire Fibre, Anjou Fibre and Faucigny Glières Fibre, and one wholly-owned network: Yvelines Fibre. Its expertise in operating very high-speed networks with quality of service ranks among the best in France according to recent ARCEP studies.

DIF Capital Partners, via its DIF Infrastructure VII fund, is negotiating to invest in TDF Group’s fibre business by acquiring the entire share capital in (i) TDF Fibre and (ii) Lumière Fibre, a newly incorporated vehicle entirely held by TDF and to which TDF is expected to contribute its engineering, maintenance, fibre roll-out and construction services business units. Following the planned transaction, the TDF Group will continue to support TDF Fibre, particularly in terms of network supervision.

The investment being considered by DIF Capital Partners will enable TDF Fibre to continue to bring its recognized expertise to the benefit of local authorities, individuals and businesses, as well as to pursue development opportunities in existing and new territories.

This transaction, which is being negotiated, will require the implementation of the information and consultation process with the relevant French employee representative bodies, and could be completed by the end of 2024, subject to satisfaction of the customary conditions precedent.

 

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with more than EUR 17 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe and North America.

DIF follows two strategies: its traditional DIF funds invest in infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as concessions. The firm’s CIF funds invest in companies with strong growth potential that are active in infrastructure sectors such as digital infrastructure, energy transition and sustainable transportation.

With a team of over 240 professionals in 12 offices, DIF offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, Milan, New York, Paris, Santiago, Sydney and Toronto.

In September 2023, CVC, a leading global private markets manager, announced that it would be acquiring a majority stake in DIF Capital Partners. Closing of the transaction is subject to regulatory approvals and is expected in Q2 2024.

For more information, please visit www.dif.eu or follow us on LinkedIn.

About TDF

As a transparent and impartial operator, TDF helps digital firms in mainland France and French overseas territories meet their strategic transmission goals. For radio and DTT broadcasting, mobile ultra high-speed broadband coverage and rolling out optical fibre, TDF brings clients in-depth operational expertise, a mix of unique and ground-breaking technology and an exceptionally widespread local presence. In an ever more connected world, over the last four decades or more TDF has enabled telecoms and media companies to connect the French regions and people, backed by its 8,600 sites, everywhere and faster. www.tdf.fr

About Banque des Territoires

Banque des Territoires is one of the entities of the Caisse des Dépôts. Banque des Territoires brings together in-house expertise for local areas. As a one-stop shop for customers, it acts alongside all local stakeholders: local authorities, local public-sector enterprises, social housing bodies, legal professions, businesses and financial players. Banque des Territoires assists them in the implementation of their public interest projects with a continuum of offers : advisory, loans, equity, bank services, consignments and special deposits. It has been set up to serve the interests of all local areas alike, from rural municipalities to large cities, with the ambition of maximizing its impact notably on ecological transformation and social and regional cohesion. The 37 territorial offices of Banque des Territoires ensure the implementation of its action across all metropolitan and overseas territories. www.banquedesterritoires.fr 

 

Press contacts:

DIF Capital Partners: press@dif.eu

TDF: Pauline Mauger. Tel.: 07 70 01 18 27 – pauline.mauger@tdf.fr

Banque des Territoires – Groupe Caisse des Dépôts: Nathalie Police. Tel.: 06 07 58 65 19 – nathalie.police@caissedesdepots.fr

Data centre
2 April 2024  |  Schiphol

DIF Capital Partners opens office in Italy

DIF Capital Partners, a leading global infrastructure fund manager, is pleased to announce the opening of its new office in Italy. The Milan office will be DIF’s twelfth office.

The new office will target investments in Italy as well as allowing DIF to better serve its growing Italian investor base.

DIF’s Milan office will be headed by Roberta Battaglia. Roberta was most recently Head of Infrastructure at Italian sovereign wealth fund CDP Equity. While at CDP Equity, Roberta was responsible for the origination, transaction execution and portfolio management of assets operating in the infrastructure sector. In this role she also led the acquisition of Autostrade per l’Italia, Italy’s largest motorway network.

Prior to this, Roberta spent ten years in the investment team at Antin Infrastructure Partners in Paris. While there, she oversaw numerous European investments in – and management of – the telecom, transport and energy sectors. Before that, Roberta worked at Deutsche Bank – first in the Milan Corporate Finance team and later in the EMEA Infrastructure sector team in London.

Wim Blaasse, CEO at DIF Capital Partners, says: “We are delighted that Roberta is joining the DIF team to lead this latest step in the expansion of our global network. Italy is a highly attractive market with an increasing number of interesting investment opportunities across our key target sectors. Having a local team, on the ground, will really enhance our sourcing and management capabilities on the ground.”

“We’ve also expanded our investor base amongst Italian institutions so this new office will enable our investor relations team to better serve our existing and future investors in the region.”

Roberta Battaglia says: “I’m incredibly excited to be heading up DIF’s new Italian office in Milan. DIF has a reputation as one of the best mid-market infrastructure players in Europe and I look forward to working with my new colleagues to accelerate our expansion in Italy.”

“Italy is major beneficiary of the EU’s National Recovery and Resilience Plan (PNRR) – worth almost EUR 200 billion of investments in the energy and digital transitions. With the PNRR set to continue until 2026, the injection of money into Italy’s infrastructure will trigger further investment from private investors, making Italy a very active market.”

 

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with more than EUR 17 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe and North America.

DIF follows two strategies: its traditional DIF funds invest in infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as concessions. The firm’s CIF funds invest in companies with strong growth potential that are active in infrastructure sectors such as digital infrastructure, energy transition and sustainable transportation.

With a team of over 240 professionals in 12 offices, DIF offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, Milan, New York, Paris, Santiago, Sydney and Toronto.

In September 2023, CVC, a leading global private markets manager, announced that it would be acquiring a majority stake in DIF Capital Partners. Closing of the transaction is subject to regulatory approvals and is expected in Q2 2024.

For more information, please visit www.dif.eu or follow us on LinkedIn.

 

Press contact:

DIF Capital Partners: press@dif.eu

Roberta Battaglia
11 March 2024  |  London

DIF Capital Partners sells UK onshore wind farm project to TfL Pension Fund

DIF Capital Partners is pleased to announce that DIF Infrastructure IV (DIF IV) has signed an agreement to sell a UK onshore wind farm project to the Transport for London Pension Fund. Closing of the transaction is subject to customary conditions and approvals, and is expected to take place in Q2 2024.

The Wadlow wind farm project, located close to Cambridge, has an installed capacity of 26MW and comprises 13 Vestas V90 2MW turbines. The wind farm has been operational since September 2012 and was acquired by DIF IV in 2016.

Andrew Freeman, Partner and Head of Exits at DIF Capital Partners, said: “We are very pleased with the successful exit of this project. Our proactive approach to divestments helps to deliver attractive risk-adjusted returns for our investors, with this sale further demonstrating the strong track record of our investment strategies.”

“The success of this investment since 2016 demonstrates how financing the energy transition can deliver strong returns for our investors as well as drive the transition to net zero. DIF will be continuing to look for investment opportunities in the UK renewables sector in the coming years.”

DIF IV was advised on the transaction by PKF Francis Clark (financial), Osborne Clarke (legal) and Natural Power (technical).

 

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with more than EUR 17 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe and North America.

DIF follows two strategies: its traditional DIF funds invest in infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as concessions. The firm’s CIF funds invest in companies with strong growth potential that are active in infrastructure sectors such as digital infrastructure, energy transition and sustainable transportation.

With a team of over 240 professionals in 11 offices, DIF offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

In September 2023, CVC, a leading global private markets manager, announced that it would be acquiring a majority stake in DIF Capital Partners. Closing of the transaction is subject to regulatory approvals and is expected in Q2 2024.

For more information, please visit www.dif.eu or follow us on LinkedIn.

 

Press contact:

DIF Capital Partners: press@dif.eu

The Wadlow wind farm project
8 March 2024  |  Schiphol

5 questions with Marlous van Wouwe, Global HR Director at DIF

Ahead of International Women’s Day, we sat down with Marlous van Wouwe, Global HR Director at DIF, to talk about the importance of diversity, equity and inclusion to an organisation.

 

1. You’ve been Global HR Director at DIF since mid-2022. What have been your proudest achievements?

“It’s very pleasing to see that diversity is now a standing strategic agenda item at our board meetings. I have seen so many businesses, not just in infrastructure, still treating diversity as an administrative issue. Recognising that it’s something the board should be discussing every time it meets is very important. Having real conversations on the topic.

The board recently suggested themselves that diversity should be part of our KPIs. It is  great to see that the most senior individuals in the organisation are now actively putting themselves forward to help to improve diversity. We work as one team at DIF, combining our global outlook with local expertise and feet on the ground. To be able to function as one team and to reach our best potential, we need an inclusive culture, different perspectives and equal chances. This is why having Diversity, Equity and Inclusion embedded in our organisation is so important.”

 

2. On a personal level, what lessons have you learned throughout your career with respect to diversity and inclusion?

“I’ve learned a few lessons about what leadership looks like. Some of them have been learned by reconsidering things I was told. For example, like a lot of women, I was told that my leadership style needed to change, that effectively I needed to adopt a more masculine style. Over time I have learned that this isn’t true. The best leaders are those who are authentically themselves and focus on empowering their team.

I’ve also learned the best organisations for diversity are those that try to be ‘ahead of the curve’ and anticipate issues before they arise. There have been times in my career where I had to speak up for myself and establish a boundary, for example over leaving the office to pick up my children from school. The best businesses make clear that they understand people need to take care of family responsibilities. Communicating proactively on issues such as caring responsibilities, disability and neurodiversity can make a big difference to team members.”

 

3. How diverse is DIF as an organisation?

“Today we’re marking International Women’s Day, but we need to focus on Diversity, Equity and Inclusion all together. Inclusiveness and equity (equal chances) are key, and we need to demonstrate this as an organisation to contribute to changing the way we work.

In general, financial services, and infrastructure specifically, hasn’t traditionally been a very diverse sector. For DIF, diversity is extremely important and part of the way we operate. In our day-to-day work we actively manage our assets to generate value for our investors, with teams on the ground where those assets are located. We recruit local experts and globally our business comprises of more than 23 different nationalities. That has shaped how we work and ensures we have diverse perspectives that are welcomed and included. Think globally, but act locally, with feet on the ground.

Actively managing our assets also means hiring executives with diversity in experience and background. We’re looking for a mix in strategic thinking, technical expertise and experience in the field. Making sure a team consists of talent with diverse expertise and backgrounds is what leads to divergent thinking and success. For example, new hires in the past year have come from over 55 different universities and schools.”

 

4. Can you give some examples of how diversity, equity and inclusion is incorporated in DIF’s everyday business?

“There are a whole range of initiatives at DIF to try to become a more diverse organisation. I think we can categorise them into recruitment, retention and advancement.

When we recruit, we ask recruiters for a diverse slate of candidates – gender, ethnicity, educational background, career history. We accept that this means it will often take longer to build that diverse group of candidates.

We’ve built a number of internal structures to ensure a diverse and inclusive workplace. People should feel valued, and voices should be heard. We’ve tried to do this by, amongst other initiatives, the introduction of a Next Gen Board, which ensures the voices of younger team members at DIF are heard at board level through regular meetings on strategic topics. Networking groups are also key, like bringing women in DIF together.

Also, it is important to make sure everyone has the same opportunities for success. This is all about a fair talent review process, making sure everyone is measured via the same standard and eliminating (unconscious) bias.

Finally, and not to be underestimated, is inclusive leadership training at all levels, tailored to the career stage of each team member. For senior individuals that includes ensuring diverse voices within teams are listened to and a focus on emotional intelligence, making sure authentic leadership, meaning a variety of leadership traits, are appreciated and supported. How do you empower the collective. One of our core values is that we are one team. That only works if everyone can bring their true selves to work.”

 

5. What is DIF doing to ensure our female team members get equal opportunities throughout their careers?

“One of the most important things you can do to improve diversity is to be an understanding employer. We recognise the structural barriers for women building careers in our industry and try to eliminate them.

One of those barriers is returning to work after having children. Too often, women are left to ‘sink or swim’ in that situation when a better approach is to have regular ‘check-ins’, not just with the HR team, but with line managers too. That’s where issues women are facing can be identified and dealt with early before they impact equality of opportunity.

We have a culture of flexible working hours and the possibility to work from home. The work is still demanding but people have the flexibility to pick up their children. I also have a family to manage with two daughters and a husband who works fulltime. I personally know how difficult it is to balance work and family responsibilities and the importance of an employer who makes a healthy work-life balance possible.

Having mostly referred to women with children, equally important is the focus on empowering young female talent. Doing the right things to make sure they have equal opportunities by offering leadership training and coaching on how to engage and empower female talent and ensuring a representation of role models in female leadership. Our senior female leadership has increased from 12% to 21% over the last two years and our board consists of three male and two female members. Next to this, we are establishing both internal and external mentorship programs.

Improving diversity, equity, and inclusion is an ongoing journey. It’s something we continuously need to focus on and put effort towards.”

 

Bio Marlous van Wouwe
Marlous is the Global HR Director at DIF. She has 15yrs+ experience in the field of HR transformation with a focus on reward & talent, global HR strategy development, international mobile employees, process outsourcing/automation, and large-scale employee relocations.

Prior to joining DIF, Marlous was Director People & Organisation at PwC, and prior to this, she was Global Head International Mobility at ING bank. Marlous is a tax lawyer and holds a Master’s degree in Tax law from the University of Leiden.

Marlous van Wouwe
5 March 2024  |  Schiphol

DIF Capital Partners raises EUR 6.8 billion for its latest infrastructure funds

The successful fund raisings for DIF VII and CIF III represent a 50% increase compared to the prior funds.

DIF Capital Partners (DIF), a leading global infrastructure fund manager, is pleased to announce it has raised EUR 6.8 billion for its latest infrastructure funds with final closes across DIF Infrastructure VII (DIF VII) EUR 4.4 billion, DIF Core-Plus Infrastructure Fund III (CIF III) EUR 1.6 billion, and certain Co-investment vehicles EUR 0.8 billion.

DIF experienced strong investor demand from both existing and new institutional investors across the globe, enabling both DIF VII and CIF III to exceed their target fund sizes of EUR 4.0 billion and EUR 1.5 billion respectively. Total commitments for the predecessor funds (DIF VI and CIF II) equaled EUR 3.0 billion and EUR 1.0 billion.

DIF VII targets infrastructure investments, often concession-based or with long-term offtake agreements offering stable and predictable cash flows as well as attractive risk-adjusted returns. Sectors covered are transportation, (renewable) energy, digital infrastructure as well as utilities.

CIF III targets investment opportunities with strong growth potential. It focuses on a broad range of infrastructure sectors including digital infrastructure (specifically datacenters and fibre), energy transition as well as sustainable transportation.

Both fund strategies target a mix of operational and greenfield investments and predominantly focus on Europe and North America.

The funds received commitments from a diverse institutional investor base of more than 110 investors across Europe, the Americas, Asia, and the Middle East, including public and private pension plans, sovereign wealth funds, insurance companies, financial institutions, foundations, and private wealth investors.

Wim Blaasse, CEO at DIF Capital Partners, said: “We are extremely grateful to our investors for their trust and support, and this successful fundraising reinforces DIF’s leading position in the infrastructure market.

In addition, we are excited by the journey ahead as we team up with CVC, and accelerate the growth of our investment capabilities, our geographic reach, and lever the CVC network”.

Gijs Voskuyl, Deputy CEO at DIF Capital Partners, said: “An ever growing demand for infrastructure capital provides an exciting investment opportunity for us, and with our investment track record and experienced teams on the ground across our network of offices in eleven countries, we are confident we can use this capital to take advantage of attractive investment opportunities.”

To date, both funds have invested or committed to nine investments each, thereby deploying around 50% of total commitments. For DIF VII this includes investments in Saur, a global water solutions provider, Fjord1, a Norwegian electric ferry concessions operator and Green Street Power Partners, a US distributed solar developer/IPP. For CIF III this includes investments in metrofibre, a German urban fibre roll-out platform, Tonaquint, a US datacenter platform and Rail First, an Australian rail leasing business.

 

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with more than EUR 17 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe and North America.

DIF follows two strategies: its traditional DIF funds invest in infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as concessions. The firm’s CIF funds invest in companies with strong growth potential that are active in infrastructure sectors such as digital infrastructure, energy transition and sustainable transportation.

With a team of over 240 professionals in 11 offices, DIF offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

In September 2023, CVC, a leading global private markets manager, announced that it would be acquiring a majority stake in DIF Capital Partners. Closing of the transaction is subject to regulatory approvals and is expected in Q2 2024.

For more information, please visit www.dif.eu or follow us on LinkedIn.

 

Press contact:

DIF Capital Partners: press@dif.eu

DIF Capital Partners raises EUR 6.8 billion
21 December 2023  |  Schiphol

Congratulations to our 44 employees that have been promoted this year!

People have always been DIF’s greatest asset and the work our employees do doesn’t go unrecognised.

This is the full list of this year’s promotions per grade. Join us in wishing them every success in their new role.

Congratulations to all of you!

Promotions to Managing Director
Jesse van Schouwenburg
Helen Murphy
Kees de Ru
Marlous van Wouwe
Pierre Boschin
Julien Millet

Dan Fetter has been appointed as Deputy Head Value Creation

Promotions to Senior Director
Twan van Vlerken
Philipp Lauch
Carmen Martín
Tristan Taylor
Angelo Lacroix

Promotion to Director 
Alessandro Pinelli
Steven Cross
Thibault Barrallon
Matt Harding
Jason Loo
Carmen Gonzalez
Heloise Gouget
Jovi Li
Rebecca Mulder
Raymon Ruijter
Victoria Stradnic
Mark Vuurberg
Melissa Chan

Promotion to Associate Director
Sascha Rütz
Bryce Freeburn
Somar Alhajali
Charlotte Wijlhuizen
Kirsten Lagerweij
Wybren Brouwer
Maxime Reinke
Michael Wong
Sarah Travis
Hamza Chaudhry
Olivier Laflamme
Miguel Sanchez de las Matas
Shyam Rajani

Promotion to Associate 
Lauren Page
Katarzyna Fuglewicz
Katerina Novotna
Rico Glase
Michel Bartoschik
Johannes von Möllendorff

Promotion to Analyst
Jenny Chen

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