Thijs Verburg, Author at DIF Capital Partners

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

29 October 2021 | Frankfurt

DIF Capital Partners and EDF INVEST sell German regulated utility company Thyssengas

DIF Capital Partners (“DIF”), a leading global independent infrastructure investment fund manager, through its fund DIF Infrastructure IV, together with EDF INVEST, are pleased to announce an agreement to sell their joint 100% ownership stake in Thyssengas Holding GmbH (“Thyssengas”), one of the largest German gas Transmission System Operators (“TSO”), to Macquarie Asset Management (“MAM”), via its fund Macquarie Super Core Infrastructure Fund SCSp (“MSCIF”).

Thyssengas is Germany’s second largest gas TSO, headquartered in Dortmund. Using its 4,400-kilometre-long underground transmission system, the company annually transports around six billion cubic metres of natural gas – one-tenth of Germany’s entire consumption. The gas is delivered to more than 1,000 exit points leading to subsequent networks, industrial customers and power stations.

During DIF’s and EDF INVEST’s joint ownership, Thyssengas has seen significant RAB growth and has developed a sizable future capex project pipeline with more than €500 million of planned projects from 2021 to 2027. One of the largest expansion projects during DIF’s and EDF INVEST’s joint ownership of the company has been “ZEELINK”, a pipeline construction project at the German-Belgian border which was commissioned in May 2021, owned together by Thyssengas and Open Grid Europe (OGE) via a joint venture. Despite significant expansion of the grid, the company has managed to maintain a highly reliable network and an outstanding HSE track record. The implementation of a new digital management system for maintenance processes further helped management to deliver operational efficiencies.

Thyssengas is an industry thought leader and works at the forefront of innovation in the TSO space. In particular, the company is a frontrunner for the rollout of hydrogen in Germany and is actively engaged in hydrogen-related initiatives.

The transaction is expected to be finalised in Q1 2022, subject to customary merger control clearance and foreign investment approval requirements.

RBC Capital Markets served as DIF’s and EDF INVEST’s financial advisor, and Linklaters provided legal advice. Furthermore, DIF and EDF INVEST were supported by Ernst & Young, AFRY Management Consulting, and Willis Towers Watson.

About Thyssengas

Thyssengas is one of 16 German gas TSOs. Founded in 1921, when its predecessor company built the first gas transmission system in Germany, Thyssengas can look back on a 100-year history, during which it has developed great expertise. Thyssengas currently employs an engaged and motivated team of around 390 employees, across seven locations in Northern Germany. As a TSO, Thyssengas is certified as an Independent Transmission Operator (ITO) by Bundesnetzagentur (BNetzA), the German Federal Network Agency.

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

28 October 2021 | Sydney

DIF Capital Partners consortium reaches financial close on A$11.1 billion Australian North East Link PPP

DIF Capital Partners (“DIF”) is pleased to announce that the SPARK consortium comprising DIF Infrastructure VI (“DIF VI”), Capella Capital, John Laing, Pacific Partnerships, CPB Contractors, GS Engineering & Construction, WeBuild, China Construction Oceania and Ventia has reached financial close on the landmark North East Link project in Melbourne, Australia.

North East Link will be the largest transport project in Victoria’s history and the largest PPP project in Australia, with a total cost of A$11.1 billion. DIF VI will own a 20% stake in the Primary Package PPP, which has an unprecedented long-term financing structure in place with top tier local and international financiers.

North East Link (click here for video) will be Victoria’s longest twin road tunnel, with three lanes and ca. 6.5 kilometres in length, finally closing the missing link in Melbourne’s freeway network. Up to 135,000 vehicles will use North East Link every day, reducing congestion in the north-east, and giving back local roads to local communities. North East Link will slash travel times by up to 35 minutes, take 15,000 trucks of local roads each day, and create more than 10,000 local jobs.

The project will be delivered by a design & construction joint venture consisting of WeBuild, CPB Contractors, GS Engineering and China Construction Oceania. Operations and maintenance will be undertaken by Ventia.

Gijs Voskuyl, Partner and Head of Investments for DIF VI added: “DIF is excited to work with the North East Link Project Authority and alongside our leading Spark consortium members to deliver this critical missing link in Melbourne’s road network. The North East Link project will not only create thousands of local community jobs, it will also reduce congestion and remove significant freight transport from the existing suburban roads, and thereby significantly improving the liveability of the surrounding communities.”

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

19 October 2021 | Frankfurt

DIF Capital Partners to become majority shareholder in global solar PV platform ib vogt

DIF Capital Partners (“DIF”), a leading global independent infrastructure investment fund manager, through its fund DIF Infrastructure VI, has reached an agreement to acquire a 51% stake in ib vogt GmbH (“ib vogt”), one of the world’s leading developers in utility-scale PV solar, from its current 100% shareholder (“DVV”).

With a total capacity, built or in construction, of over 2.2 GWp to date combined with a project development pipeline in excess of 40 GWp, ib vogt continues to benefit from strong growth and is a leading global utility scale solar PV development platform. Headquartered in Berlin, Germany, ib vogt has established 27 offices across Europe, North America, Asia-Pacific and Africa as part of its presence in over 40 countries. The group works together with numerous partners globally, augmenting its in-house team of over 540 experts who are active in all areas of the solar value chain.

DIF and DVV have entered into this strategic partnership with the aim of accelerating ib vogt’s growth program and asset build out as well as to fast track the transition of the company towards an independent power producer (“IPP”) model that develops, owns, and operates solar and battery storage projects. As part of the agreement, DIF will acquire a 51% stake in ib vogt (excluding certain projects for regulatory reasons) and the shareholders will undertake a capital injection at closing.

“We are delighted to partner with DVV and the ib vogt team, who have proven to be one of the leading solar development platforms globally. The development, construction and operation of solar energy and battery storage plays a vital role in the decarbonisation of electricity markets across the world and we believe ib vogt is well placed to play a major role in this,” said Gijs Voskuyl, Partner and Head of Investments for DIF Infrastructure VI. “We are excited to support the company and the highly experienced management team in the next phase of its growth, realising ib vogt’s impressive pipeline and continuing the transformation from a developer into a global IPP.”

“The partnership with DIF will have an energising effect for the company. We are delighted to be working with the DIF team. Our sector – and the company – are growing rapidly. The partnership represents an important and transformative next step in our evolution. It will help the company to reach new heights, accelerating the conversion of the tremendous pipeline potential that we have built up, and thereby creating a leading and value-adding IPP platform,” said Anton Milner, CEO of ib vogt.

“Our industry is pivotal in the fight against climate change. Together with DIF we have an opportunity to significantly increase the company’s contribution and impact in addressing this key global challenge. We are excited about our partnership and taking the company to the next level,” added Dagmar Vogt, founder and shareholder of ib vogt.

DVV was advised by Marathon Capital, Ikarus Capital as well as Hogan Lovells International LLP and AU VON POCHHAMMER Rechtsanwälte. DIF was advised by Evercore, Schenck Energy and Ashurst.

The transaction is subject to receipt of usual and customary regulatory approvals and consents for transactions of this nature. Closing is expected to take place during Q4 2021.

About ib vogt

ib vogt is firmly committed to supporting the decarbonisation of the global electricity sector. As an integrated developer, ib vogt specialises in the development, design, engineering, financing, EPC, operation, maintenance, and asset management of solar power plants, offering high-quality turnkey solutions to asset owners. The company currently has multiple hundred-MWp projects under construction with a multi-GWp international project pipeline.

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

4 October 2021 | Toronto

DIF Capital Partners invests in sustainability and energy solutions with acquisition of Bernhard, LLC

DIF Capital Partners (“DIF”), a leading global independent infrastructure investment fund manager, through its fund DIF Infrastructure VI, today announced an agreement to acquire Bernhard, LLC (“Bernhard”) the largest privately-owned Energy-as-a-Service (“EaaS”) solutions company in the United States, from an affiliate of Bernhard Capital Partners.

Bernhard has provided solutions to its customers’ energy and infrastructure needs for more than 100 years and shifted its focus in 2014 to becoming a leading Energy-as-a-Service provider. As part of this business model, Bernhard enters into long-term turnkey EaaS concession contracts to upgrade, retrofit and service large existing building energy facilities in order to achieve substantial energy savings. Clients are currently predominantly higher education and healthcare institutions. To date, Bernhard has closed 15 EaaS transactions, including the largest EaaS concession in U.S. history. Senior management will retain a meaningful ownership position and continue its groundbreaking work leading Bernhard.

“Bernhard delivers distributed energy through its unique EaaS model which provides clients access to fully integrated and efficient energy solutions, thereby significantly reducing the carbon footprint of their buildings and utility systems. Bernhard’s approach fits perfectly with DIF’s Public-Private Partnership expertise and ambition to invest in clean energy infrastructure solutions around the globe.” said Gijs Voskuyl, Partner and Head of Investments for DIF Infrastructure VI. “We are excited to partner with Bernhard’s outstanding management team and support the company in their rapid growth at the forefront of the energy transition.”

“As Bernhard continues pushing to new heights in the EaaS market, we are excited to join forces with DIF Capital Partners given its extensive experience with Public-Private Partnerships, district energy, Energy-as-a-Service projects, and a shared commitment to efficiency, ESG and sustainability” said Ed Tinsley, Bernhard CEO. “The support and strategic counsel from DIF will help to guide Bernhard through the next chapter of our story.”

With DIF’s acquisition of Bernhard, the company will continue the acceleration of its market leading core EaaS business to healthcare and higher education facilities while expanding those services to other markets and geographies.

“The future of Bernhard has never been brighter,” said Tinsley. “Our track record proves we have the expertise and capabilities to push the industry to places it has never been before. With this announcement, we are truly at the forefront of a new era for energy solutions that will shape the world for generations to come.”

J.P. Morgan Securities LLC served as Bernhard’s financial advisor, and Kirkland & Ellis LLP provided legal counsel. Macquarie Capital (USA) Inc. served as financial advisor, White & Case LLP served as legal advisor, Black & Veatch Management Consulting served as technical advisor, RWDI served as energy advisor, Deloitte LLP (Canada) served as financial, accounting and tax advisor and Oliver Wyman as commercial advisor to DIF.

About Bernhard

Bernhard, a portfolio company of Bernhard Capital Partners, is a leading Energy-as-a-Service company delivering turnkey projects and custom solutions in the United States with 100+ years of energy and infrastructure project experience servicing higher education, healthcare, commercial and specialty markets. Bernhard combines development, financing, design, construction and operations to deliver turnkey Energy-as-a-Service solutions that reduce energy use, risk and cost so that our clients can focus on their everyday work. Headquartered in Metairie, Louisiana, Bernhard has more than 2,000 employees in more than 20 office locations across the country. For more information, visit bernhard.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 has invested in more than 100 Public-Private Partnership projects over the past 16 years in sectors such as healthcare, government, and education, where the provision of energy, management of energy systems and efficiency of outputs are often a key feature of projects. 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 target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy, and transportation sectors.

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, Partner
Email: a.ruijs@dif.eu

22 September 2021 | Schiphol

DIF Capital Partners announces successions of Head of Renewable Energy and Head of Germany

DIF Capital Partners (“DIF”) today announces two significant successions in its senior leadership team:

Based in London, Caine Bouwmeester will take over the role as Head of Renewable Energy from Christopher Mansfield; and
In Frankfurt, Marcel Beverungen will take over the position as Head of Germany from Carl Jobst von Hoersten.

Christopher Mansfield and Carl Jobst von Hoersten are both retiring as Partners after 13 years in their roles as Head of Renewable Energy and Head of Germany, respectively. Christopher has led DIF’s renewables practice from its start in 2008, having overseen more than 70 investments and/or realisations across 4 continents, with an installed capacity of over 4GW, establishing DIF as a leading global player in renewables.

Carl Jobst founded the Frankfurt office in 2008 and has successfully developed DIF’s presence in the DACH region as one of DIF’s key markets. Over the years, DIF has completed more than 30 investments in Germany in renewables, PPPs, utilities, energy, rail and container leasing and has become one of the leading midmarket players in German infrastructure.

While they are retiring from their full-time roles, DIF is pleased to be able to continue to benefit from Carl Jobst’s and Christopher’s experience and knowledge, given that they will be taking on certain non-executive roles at DIF.

The successors of Christopher and Carl Jobst both joined DIF in 2020. Caine Bouwmeester is a Managing Director and joined from Macquarie’s Green Investment Group (GIG) in London, where he was responsible for the origination and execution of renewable energy investments in Europe. Caine has a track record of developing, acquiring and financing renewable energy projects and companies across Europe, North America and Africa. He has a Master’s degree in Finance from INSEAD and Bachelor’s degrees in Business and Financial Mathematics from Wilfrid Laurier University.

Marcel Beverungen is a Managing Director and joined from Rothschild in Frankfurt, where he was responsible for energy & power and infrastructure origination and execution in the DACH region. Prior to Rothschild, Marcel worked for UBS and Dresdner Kleinwort in Frankfurt and London. He has a Master’s degrees from the University of Erlangen-Nuremberg (Germany) and the University of Sankt Gallen (Switzerland).

Wim Blaasse, Managing Partner: “We would like to express deep gratitude to Christopher and Carl Jobst for their commitment and their contribution to the growth of the DIF platform over the last 13 years. At the same time, we are excited to welcome Marcel and Caine in their new roles and I am convinced they too will make a valuable contribution to DIF in the coming years through their new roles as Head of Renewable Energy and Head of Germany.”

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 target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy, and transportation sectors.

DIF Capital Partners has a team of over 160 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For further information please visit www.dif.eu

Contact:

Allard Ruijs, Partner

Email: a.ruijs@dif.eu

16 September 2021 | Schiphol

DIF Capital Partners opens New York office and bolsters team with two senior hires

Continuing to build on the firm’s strong current momentum, DIF Capital Partners (“DIF”) today announces the opening of an office in New York (US) and the hiring of two senior professionals to bolster its investment and investor relations & business development teams.

The New York office will further deepen DIF’s US presence and its team will work closely with the team in the Toronto office which was established in 2012 to cover the North American market. The opening of the New York office is the 10^th local office in DIF’s global platform. Over the past ca. 10 years DIF invested more than USD 1 billion in North America across 18 different investments. The New York and Toronto offices are led by Marko Kremer, partner and Head of DIF’s North American franchise.

Kanan Joshi is joining the New York office as a Senior Director and as DIF’s first US hire. She joins the firm to spearhead its investments and strategy in the US digital infrastructure sector. She brings over 15 years of experience and has a strong track record in sourcing and investing in digital infrastructure assets. Most recently Kanan was the Head of Telecom Infrastructure at Upper Bay. Before that she worked at Digital Bridge and Deutsche Bank in New York, where she was responsible for the origination, structuring and execution of telecom investments across North America, Latin America and Asia. Kanan has deep domain expertise in data centers, cell towers and telecom industries, and enjoys long-standing relationships with established management teams. She has an MBA from the University of Chicago and a Bachelor’s degree in Economics from the University of Mumbai.

In addition, DIF’s global investor relations & business development team is announcing expansion with the hire of Luuk Veenstra, who joins the team as a Senior Director to cover a part of Europe and the Middle-East. Luuk has joined the DIF Schiphol office from M&G in New York, where he established the institutional business development & distribution business for North America. He was previously based in Amsterdam, working with the leading institutional investors in the Benelux. Before M&G, Luuk worked for PGGM’s infrastructure investment team, and for RBC and NIBC in various positions and locations globally, including 10 years in London. Luuk holds an MSc in Monetary Economics from the University of Groningen.

Wim Blaasse, Managing Partner: “Establishing an office in New York is part of our global strategy to establish a strong local presence in the key countries DIF invests in. We are also more than excited to welcome Kanan and Luuk to our firm. We are delighted to have recruited two such high calibre professionals to strengthen DIF’s investment and investor relations team. DIF expects to leverage Kanan’s unique background to help us stay at the forefront of emerging trends, partner with management teams and maximize value for our investors. Luuk will play a key role in further developing DIF’s LP network to support the growth of the DIF platform leveraging on his global distribution, business development and infrastructure investment experience.”

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 target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy, and transportation sectors.

DIF Capital Partners has a team of over 160 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For further information please visit www.dif.eu

Contact:

Allard Ruijs, Partner

Email: a.ruijs@dif.eu

27 July 2021 | Madrid

DIF Capital Partners signs agreement to acquire leading Spanish technical inspection services company Grupo Itevelesa

DIF Capital Partners (“DIF”) is pleased to announce that its DIF Infrastructure VI fund has signed an agreement to acquire a 100% ownership stake in Grupo Itevelesa (“Itevelesa” or the “Company”), a leading independent provider of vehicle inspection services, from funds managed by Hayfin Capital Management (“Hayfin”).

Founded in 1982 and headquartered in Madrid, Itevelesa is one of Spain’s largest independent providers of periodical technical inspection services for vehicles, which are conducted under contracts with regional governments of which the majority is long-term concession-based. The Company operates 72 fixed locations and 20 mobile units across 11 autonomous communities; it also provides industrial safety, metrology and environmental inspection services. Hayfin has been the Company’s majority shareholder since 2015. With the long-term support of DIF, Itevelesa will aim to continue its strong growth path and further consolidation of its market position.

Jesús García Gil, CEO of Itevelesa, said: “DIF is a highly regarded infrastructure investor with a strong and long-standing track record in the Spanish market. We are all delighted to welcome them on board as our new investor and shareholder. DIF is the ideal partner to support the Company’s growth and diversification business strategy; this transaction ensures that we can continue delivering the highest possible safety and quality service to our customers under the highest ESG standards. Hayfin has been a highly supportive shareholder to us over the past six years and we’d like to thank them for their confidence and contribution to the business’ growth.”

Gijs Voskuyl, Partner and Head of Investments for DIF Infrastructure VI at DIF, said: “Itevelesa is largely long-term concession based and provides an essential service across Spain through its extensive network of vehicle inspection service stations and industrial inspection offices. It therefore aligns closely with our core strategy of making stable and long-term equity investments in best-in-class operational infrastructure assets with a strong market position and predictable cash flows. We are looking forward to working closely with the Itevelesa team to continue to deliver a high-quality service to its customers.”

DIF has been advised by Cantor Fitzgerald (Financial) and Herbert Smith Freehills (Legal). Hayfin has been advised by Alantra (Financial) and Linklaters (Legal).

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €9.0 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:

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 target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.

DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu

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

9 June 2021 | Toronto

DIF Capital Partners invests in 298 MW Kingfisher Wind project in the US

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure VI has executed a definitive agreement to acquire 100% of the equity interests of Kingfisher Wind (the “Project”), a 298 MW operating wind project located in Oklahoma, US. DIF will acquire the Project from an infrastructure fund managed by BlackRock. The final closing is expected to be completed in Q3 2021, following the required regulatory approvals and consents.

The Project is equipped with 149 Vestas V100 2.0 MW turbines, situated across approximately 19,000 acres of land. The turbine O&M is completed by Vestas, and the asset management & balance of plant, operation and maintenance work is performed by APEX Clean Energy. The Project has been operating since 2016 and benefits from contracted cash flows and selling electricity into the Southwest Power Pool.

The total production is about 1,100 GWh per year, which is the equivalent to the annual power consumption of around 100,000 households; thereby avoiding around 600,000 tonnes of CO2 emissions per year from alternate generation sources.

Gijs Voskuyl, Partner and Head of Infrastructure at DIF Capital Partners, said: “DIF is pleased to increase our operating onshore wind holdings. We also see interesting synergies with earlier investments such as our DIF Infrastructure IV investment in the neighbouring Canadian Hills project. Clean energy is a key focus for DIF, and we look forward to continuing to provide clean reliable power to the Project’s customers and support the North American clean energy transition. The investment underlines DIF’s strong position in and commitment to the renewable energy market globally.”

DIF was advised by Agentis Capital (financial), Nixon Peabody LLP (legal and tax), Leo Berwick (tax and accounting), Black & Veatch (technical), and Basho Energy & PA Consulting (commercial).

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €9.0 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:

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 target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.

DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu

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

3 June 2021 | Schiphol

DIF Capital Partners commits to Net Zero emissions today

DIF Capital Partners (“DIF”) is pleased to announce its commitment to Net Zero. As a globally operating private markets fund manager, DIF supports the goal of Net Zero greenhouse gas (“GHG”) emissions by 2050, in line with global efforts as a result of the Paris Agreement to have net zero emissions by 2050, or sooner. Since 2019, DIF has been measuring its own GHG emissions, taking steps to reduce its per capita emissions and offsetting the remainder. DIF is committed to continue doing this.

In addition, DIF commits to invest in line with the Paris Agreement targeting to achieve Net Zero emissions by 2050, or sooner, by taking the following steps:

Continue working with DIF’s portfolio companies to measure GHG emissions and identifying pathways to reduce emissions with the Paris aligned goal of net zero target by 2050, or sooner;
Continuing DIF’s global investment program into renewable energy and related infrastructure to support the global energy transition to decarbonised sources of energy;
Reporting in line with the Task Force on Climate-related Disclosures (“TFCD”) recommendations; and
Reporting on DIF’s progress annually.

Finally, DIF has become a signatory to the Institutional Investors Group on Climate Change (“IIGCC”) as part of its advocacy on climate change. Together with this initiative DIF will work towards Net Zero solutions for the infrastructure investment market.

Wim Blaasse, Managing Partner, further comments: “We believe that the single biggest threat faced by our generation is climate change. At DIF we see it as our responsibility to apply the same urgency of action to climate issues, as we have done in our response to coronavirus, and we invite all our stakeholders to join us on this commitment.”

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €9.0 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:

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

DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu

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

1 June 2021 | Frankfurt

DIF Capital Partners invests in 108 MW onshore wind project portfolio in Poland

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure Fund VI has acquired 100% of four onshore wind projects in Poland, with a total capacity of 108 MW. DIF acquired the projects from German wind project developer Sabowind. As the projects are ready to build, DIF will invest throughout the construction of the projects.

The wind projects, which will be equipped with 54 Vestas V100 / V90 turbines, will be constructed under a turbine supply agreement by Vestas and under a tailored EPC contract by Sabowind. The projects are located across Poland. Construction commenced upon closing of the transaction and the projects are expected to become operational by Q3 2022 (two projects) and Q1 2023 (two projects). Once commissioned, Sabowind will be responsible for the technical and commercial management. The projects benefit from contracts-for-difference with the Polish state, providing fixed price tariffs for the power offtake for a period of 15 years.

The total production is estimated to be c. 300 GWh per year, which is the equivalent to the annual power consumption of around 75,000 households; thereby avoiding around c. 100,000 tonnes of CO2 emissions per year from fossil fuels. The projects will support Poland’s energy transition by expanding the country’s renewable energy capacity and reducing dependency on power production from fossil fuels.

Christopher Mansfield, Partner at DIF Capital Partners, said: “DIF is delighted to enter into its second onshore wind transaction in the Polish renewables market and to support Poland’s ongoing energy transition. The projects fit well within the investment strategy of DIF Infrastructure Fund VI and with the earlier acquired Polish projects form an attractive wind portfolio with a total capacity of 171 MW, which is expected to be fully operational within the next 24 months. The transaction once again underlines DIF’s strong position in and commitment to the renewable energy market.”

DIF was advised by DNB (financial), Allen & Overy (legal), PwC (tax and accounting) and DNV (technical).

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €9.0 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:

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 target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.

DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu

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

27 May 2021 | Schiphol

DIF CIF II reaches final close above €1.0 billion target size

DIF Capital Partners (“DIF”) is pleased to announce the final close of DIF Core Infrastructure Fund II (“DIF CIF II”) at €1,012 million, exceeding its €1,000 million target.

DIF CIF II targets equity investments in the small- and mid-sized economic infrastructure market in pre-dominantly telecom, transportation and energy. DIF CIF II focuses on resilient companies and platforms that have a clear buy-and-build strategy – all with an asset-heavy business model. Its investments typically have medium-term contract cover and strong value enhancement potential. The fund targets both greenfield and operational investments, with a key focus on Europe and North America.

DIF CIF II is the successor fund of DIF CIF I, which held its final close in November 2017 at €450 million and invested in 13 companies and platforms in the telecom, energy and transportation sectors. DIF CIF II has seen strong backing from existing (both CIF and Traditional DIF funds) and new investors to the DIF platform, receiving commitments from leading institutional investors from EMEA and North America.

Allard Ruijs, Partner at DIF Capital Partners said: “We are thankful for the strong support received from investors for the DIF CIF II partnership. The CIF strategy is a relatively young strategy for DIF and the success of the fundraising of this second fund, especially during unprecedented and challenging Covid-19 times, shows the strength of the DIF platform and the attractiveness of the DIF CIF II proposition. The fact that many of our existing investors, from both DIF CIF I and the Traditional DIF funds, have backed this strategy proves that our investors value the complementarities of the two strategies. The fund will be leveraging DIF’s large global office network and dedicated local teams to source and manage attractive investment opportunities and build a resilient and diversified portfolio.”

DIF CIF II has made a strong start, having committed to five investments to date thereby deploying ca. 35% of the fund. This includes investments in (i) Valley Fiber, a Canadian telecom infrastructure platform, (ii) IELO, a French B2B wholesale fiber operator and developer, (iii) Touax Rail, a French railcar leasing company, (iv) 4^th Utility, a UK fiber developer, and (v) Bartolomeo, an Irish container leasing platform. Furthermore, the fund has a strong pipeline of investments across its target sectors and geographies.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €9.0 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 economic infrastructure assets in the telecom, energy 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 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu.

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