1 July 2018  |  Sydney

DIF featured in Infrastructure Investor roundtable on the Australian infrastructure market

DIF’s Head of Australia Marko Kremer participated in a roundtable discussion organized by Infrastructure Investor about sentiment in and an outlook for the Australian infrastructure market.

For the full article please see: Australia Roundtable

11 June 2018  |  London

DIF sells a stake in the A63 toll road project in France

DIF Infrastructure III and DIF Infrastructure IV are pleased to announce that they have jointly signed an agreement with HICL Infrastructure Company Limited, the listed infrastructure investment company advised by InfraRed Capital Partners Limited, to sell a 7.2% indirect stake in Atlandes, the project company which holds the A63 road concession project. The acquisition is not subject to any further conditions and will complete later this month.

The project is a 40-year toll concession to design, build, finance, operate and maintain an upgraded 104km section of the A63 highway between Salles and Saint-Geours-de-Maremne in southwest France. The project was fully commissioned in November 2013, seven months ahead of plan. In June 2015 the project’s senior debt was successfully refinanced with long term debt.

DIF Infrastructure IV will continue to hold a 9.22% stake in the A63 project.

Andrew Freeman, Head of Exits, said: “This is an attractive exit for DIF III and DIF IV, following the successful exit of the whole portfolio of DIF II and a number of DIF III assets which completed last September. In the next 12 months DIF is proactively targeting to sell further assets from its more mature funds taking advantage of strong demand for high quality core infrastructure projects in mature markets.”

DIF were advised by De Pardieu Brocas Maffei (Legal).

About DIF

DIF is an independent and specialist infrastructure investor and fund manager, with €5.6 billion assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects which have long-term contracted or regulated income streams that generate stable and predictable cash flows. The fund targets both greenfield and brownfield projects in primarily Europe, North America and Australasia.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in amongst others the energy, transportation and telecom sectors which generate stable and predictable cash flows that are protected through mid-term contracted income streams. The fund targets greenfield and brownfield investments in Europe, North America and Australasia.

DIF has a team of over 95 professionals in eight offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto, through which it covers its target markets with dedicated local teams. Please see www.dif.eu for further information.

For more information by press and investors, please contact:

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

For more information about further exits, please contact:

Andrew Freeman
Managing Director, Head of Exits
Email: a.freeman@dif.eu

22 May 2018  |  Paris

DIF Infrastructure V acquires a majority stake in the A150 toll road in France

Paris, 22 May 2018 – DIF Infrastructure V is pleased to announce the acquisition from Infravia and TIIC of a 66.7% stake in Albea SAS, a company which holds the concession to operate the A150 toll road in France.

The A150 is a 18-km dual two-lane motorway located in Normandy, France. It connects the city of Rouen with the A29 running to Le Havre. The project reached financial close in 2011 and opened to traffic in February 2015, with the concession running until December 2066. The project was refinanced in November 2017 with €130m of long term financing provided by an institutional investor.

DIF was advised by Depardieu Broccas Maffei (Legal), Mazars (Financial and tax), Leigh Fischer (Traffic), Infrata (Technical) and Gras Savoye (Insurance).

Thomas Vieillescazes, Partner and Head of DIF France, said: ”DIF is pleased to invest in this high-quality asset with attractive traffic growth potential and to expand its footprint in the road sector in France.”

About DIF
DIF is an independent and specialist infrastructure investor and fund manager, with €5.6 billion assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects which have long-term contracted or regulated income streams that generate stable and predictable cash flows. The fund targets both greenfield and brownfield projects in primarily Europe, North America and Australasia.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in amongst others the energy, transportation and telecom sectors which generate stable and predictable cash flows that are protected through mid-term contracted income streams. The fund targets greenfield and brownfield investments in Europe, North America and Australasia.

DIF has a team of over 95 professionals in eight offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto, through which it covers its target markets with dedicated local teams.

For more information, please contact:

Paul Nash
Partner, Head of PPP/Infrastructure
Email: p.nash@dif.eu

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

15 May 2018  |  Schiphol

DIF Infrastructure V reaches final close at €1.9 billion

DIF is pleased to announce the final close of DIF Infrastructure V (DIF V) at the hard-cap of €1.9 billion.

DIF V marks the firm’s sixth successful fund raising for this strategy, following the raising of DIF Infrastructure IV (2015), DIF Infrastructure III (2012), DIF Infrastructure II (2008), DIF Renewable Energy (2007) and DIF PPP (2005). Since 2005, DIF has invested in excess of 165 unique infrastructure projects within this strategy.

Wim Blaasse, Managing Partner of DIF said: “I am extremely proud of this achievement, which is a testament to the strength of the DIF platform. Over the past 13 years the team has been able to generate attractive returns for our investors by consistently investing in high quality projects, enhancing project value during our ownership through active shareholder engagement, as well as by achieving successful realisations. I am confident that we will continue to be successful in our chosen strategy, leveraging our unique global office network and dedicated local teams to complete attractive investment opportunities.

DIF V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects which have long-term contracted or regulated income streams that generate stable and predictable cash flows as well as attractive risk-adjusted returns. The fund targets both greenfield and brownfield projects in primarily Europe, North America and Australasia.

DIF V had an accelerated first close in June 2017, enabling the closing of certain pending investment opportunities, with final close occurring on the 15th of May 2018 at an increased hard-cap of €1.9 billion. DIF V has seen strong backing from both existing and new investors in the DIF platform, receiving commitments from leading institutional investors across the globe.

DIF V has committed to eight investments to date, deploying ca. 30% of the fund. This includes investments in Affinity Water, a UK regulated water asset; Autostrade per l’Italia, a large and diversified portfolio of Italian toll roads; University of Tasmania (UTAS), an Australian student housing concession; Synergy, a portfolio of utility scale wind and solar PV power projects in Australia; and American Roads, a portfolio of five US toll roads. Furthermore, the fund has a strong pipeline of investments across its target sectors and geographies, including both greenfield and brownfield projects.

About DIF
DIF is an independent and specialist infrastructure investor and fund manager, with €5.6 billion assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects which have long-term contracted or regulated income streams that generate stable and predictable cash flows. The fund targets both greenfield and brownfield projects in primarily Europe, North America and Australasia.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in amongst others the energy, transportation and telecom sectors which generate stable and predictable cash flows that are protected through mid-term contracted income streams. The fund targets greenfield and brownfield investments in Europe, North America and Australasia.

DIF has a team of over 95 professionals in eight offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto, through which it covers its target markets with dedicated local teams.

For more information, please contact:

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

8 May 2018  |  Toronto

DIF agreed to acquire US toll road portfolio

DIF Infrastructure V (“DIF”) is pleased to announce it has entered into a definitive agreement to acquire a 100% equity interest in American Roads LLC (“American Roads” or, the “Company”). The Company is being sold by an affiliate of Syncora Guarantee Inc., a wholly owned, New York financial guarantee insurance subsidiary of Syncora Holdings Ltd.

Headquartered in Detroit, Michigan, American Roads operates a diversified portfolio of five toll road assets, comprising four owned toll bridges in Alabama and, pursuant to a long-term lease agreement, the U.S. side of the Detroit-Windsor Tunnel, a subaqueous international tolled tunnel between Detroit, Michigan and Windsor, Ontario.

American Roads is led by a highly qualified management team with more than 100 years of combined management experience in infrastructure and transportation. The management team provides comprehensive management services for American Roads including operations, maintenance, engineering and administrative services.

The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2018.

DIF Profile

DIF, an independent and specialist fund management company, manages 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.

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

For more information, please contact:

Paul Huebener, Partner
Email: p.huebener@dif.eu

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

18 April 2018  |  Schiphol

DIF acquires a portfolio of Norwegian social infrastructure

DIF Core Infrastructure Fund I (DIF CIF I) is pleased to announce that it, together with Infranode, has completed the acquisition of a Norwegian portfolio of four rehabilitation centres, 41 care homes and seven preschools from SPG. DIF CIF I has acquired a 40% shareholding, and Infranode 60%.

The facilities are contracted and operated by renowned Norwegian and international private health and care providers, which receive their funding from local and regional public authorities. The portfolio’s assets are located in densely populated areas, with the majority located in the attractive greater Oslo region.

The investment provides mid to long-term contracted cash flows, with strong counterparties and is a good fit with DIF CIF I’s investment strategy.

Willem Jansonius, Partner at DIF added: “”DIF is excited to enter the growing Norwegian private health and care market. We have established a strong partnership with Infranode and are looking forward to further growing this platform in the future.””

About DIF

DIF is an independent and specialist infrastructure 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.

DIF Infrastructure V targets PPP / PFI / P3, regulated infrastructure assets and renewable energy projects.

DIF CIF I targets small to mid-sized infrastructure assets in, amongst others, the energy, transportation and telecoms sectors which generate stable and predictable cash flows that are protected over the mid-term.

Both strategies target greenfield and brownfield investments 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
Email: w.jansonius@dif.eu

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

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 Accomodation 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