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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
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28 December 2022  |  Paris

DIF Capital Partners and PGGM enter exclusive negotiations with EQT Infrastructure to acquire 50 percent of its stake in Saur

  • A consortium composed of DIF Capital Partners and PGGM has entered exclusive negotiations with EQT Infrastructure to acquire 50 percent of its stake in Saur, a leading provider of water services management solutions in France and internationally
  • Saur plays an essential part in the societies it operates in, fueled by its mission to protect and preserve water availability and quality, while minimizing discharge through efficient wastewater recycling
  • The broadened shareholder base adds new resources and expertise to support the continued long-term development of Saur’s pure-play water infrastructure platform

DIF Capital Partners is pleased to announce to have formed a consortium with the Dutch pension fund service provider PGGM (together, “the Consortium”) to enter exclusive negotiations with EQT Infrastructure III and IV funds (together, “EQT Infrastructure”) to acquire 50 percent of its stake in Saur (the “Company”). The Consortium members will each acquire 25 percent of EQT Infrastructure’s shares.

Headquartered in Paris, France, Saur is a leading innovator and service provider in the global water sector, working alongside thousands of municipalities across the globe to deliver drinking water and collect wastewater for more than 20 million people. In addition, through its Industrial Water division, the Company provides integrated water infrastructure solutions to hundreds of international blue-chip customers. Saur is present in more than 20 countries and enjoys strong market positions with long-term contracts in France, Portugal, Spain, and the Middle East.

Since the acquisition by EQT Infrastructure in 2018, Saur has undergone a successful commercial and operational transformation along with a refocus on core activities and geographical growth. EQT Infrastructure has supported the launch of a new organizational structure, accelerated organic and inorganic growth through the completion of 15 add-on acquisitions, while supporting expansion to Portugal and North America. Moreover, EQT Infrastructure has helped develop the Company’s new Industrial Water division, while implementing an ambitious ESG strategy and digitalization roadmap.

EQT Infrastructure, DIF and PGGM are committed to investing in Saur’s long-term development, providing the necessary resources and expertise to secure stability and continuous growth over the coming years. Saur is set to continue its strategic 2030 agenda focused on reinforcing its core water infrastructure activities in France and Iberia, while accelerating organic and inorganic geographic expansion and further developing its Industrial Water Solution division.

For PGGM Infrastructure Fund this acquisition contributes to the overall ambition of PGGM to invest its client PFZW’s pension capital in such a way that good and stable financial returns are combined with positive social benefits that improve livability. At the end of Q3 2022, PGGM had invested EUR 44.9 billion in Sustainable Development Investments across different asset classes, of which EUR 1.52 billion has been in water-related investments (SDG 6) in different parts of the world.

Delivering returns responsibly is one of the goals of DIF’s investment and asset management strategy, and the envisaged investment in Saur perfectly fits in this approach. DIF already has a strong footprint in water and energy transition investments as part of the more than EUR 15 billion in assets that it manages.

Matthias Fackler, Partner within EQT Infrastructure’s Advisory Team, said, “In times of rising concerns around water scarcity, Saur is a critical pillar in the societies it operates in, providing local municipalities and their citizens with clean drinking water and efficient wastewater treatment. EQT Infrastructure is proud of Saur’s development so far and we now look forward to entering its next phase of growth journey together with our new partners PGGM and DIF Capital Partners”.

Patrick Blethon, Executive Chairman of Saur Group, said, “EQT Infrastructure has been and will continue to be our partner in the construction and execution of the group’s transformation and growth acceleration strategy, mobilizing its platform to serve our corporate project. Welcoming PGGM and DIF Capital Partners onboard alongside EQT Infrastructure represents a great opportunity for Saur to develop faster and stronger.”

Dennis van Alphen, Head of Infrastructure at PGGM, said, “In today’s investment environment it is more and more important that pension capital is invested not just for financial return but to make an active contribution to society’s challenges. The envisaged investment in Saur is a seamless fit with that strategy, providing communities and companies across the world with access to clean water. We are excited to embark on this journey with our partner DIF Capital Partners and EQT Infrastructure.”

Gijs Voskuyl, Partner and Head of Infrastructure at DIF Capital Partners, said, “DIF is very excited to partner with PGGM and EQT Infrastructure in this transaction in the water sector. Saur has a very sizable and largely concession-based position in the French and Iberian Peninsula water sector and has strong growth potential, especially in the industrial water space. DIF firmly believes in Saur’s management team and looks forward to jointly growing the company towards being a sustainable leader in the industry.”

The transaction is subject to customary conditions and approvals and is expected to close in Q2 2023.

EQT Infrastructure was advised by Rothschild & Co. PGGM and DIF were advised by UBS.

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with more than EUR 15 billion of AUM. DIF was founded in 2005 and has built a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds, of which DIF VII is the latest fund in the series, invest in lower risk mid-sized infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as PPPs and concessions. The firm’s CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital, energy transition and sustainable transportation sector.

With a team of over 200 professionals in 11 offices, DIF Capital Partners offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

For more information please visit www.dif.eu.

 

Contact DIF: Thijs Verburg, t.verburg@dif.eu

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6 September 2022  |  Schiphol

Willem Jansonius in Mid Market Roundtable | Infrastructure Investor September 2022

The magic of the mid-market.

In the 2022 edition of the Infrastructure Investor Mid Market Roundtable DIF’s Head of CIF Willem Jansonius explains why the mid market is such an interesting part of the infrastructure space, continuing to offer highly attractive investment opportunities for the DIF strategies.

To read the complete article, please open Willem Jansonius in Mid Market Roundtable (September 2022)

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5 July 2022  |  Madrid

DIF Capital Partners closes acquisition and refinancing of Grupo Itevelesa

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure VI has closed the acquisition of Grupo Itevelesa (“Itevelesa” or the “Company”), a market leading provider of vehicle inspection services in Spain with a network of 72 stations nationwide serving ca. 2.3 million customers annually. Simultaneously, DIF has secured a long-term debt financing for the refinancing of the Company and to partially finance the acquisition. The debt financing was fully underwritten by Santander Corporate & Investment Banking which was also involved in hedging the interest rate exposure between signing and completion of the transaction.

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 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, playing a relevant role in ensuring ESG standards. With the long-term support of DIF, Itevelesa will aim to continue its strong growth path and further consolidation of its relevant market position.

Jesús García Gil, CEO of Itevelesa, said: “It is a pleasure to welcome DIF on board as our new shareholder. We have worked extremely closely with DIF along the last months and I truly believe that it 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.”

Gijs Voskuyl, Partner at DIF, said: “We are delighted to have completed the acquisition of Itevelesa. The Company provides a crucial service across Spain under a regulated environment which aligns well with our core strategy. We are looking forward to working closely with the Itevelesa team to deliver a high-quality service to its customers and continue growing in the market.”

DIF has been advised by Cantor Fitzgerald (Financial), Herbert Smith Freehills (Legal), Roland Berger (Commercial), PwC (accounting and tax) and WTW (insurance). Hayfin has been advised by Alantra (Financial) and Linklaters (Legal).

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 11 billion in assets under management across ten closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

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

DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact: Thijs Verburg, t.verburg@dif.eu.

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1 June 2022  |  London

DIF Capital Partners to divest its stake in the Thames Tideway Tunnel project

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure III (“DIF III”) and DIF Infrastructure IV (“DIF IV”) have agreed to the sale of their 10.66% shareholding in Thames Tideway Tunnel (“Tideway”) to DIF’s existing co-shareholders in the project: an affiliate of Allianz Capital Partners, two Amber Infrastructure-related entities (International Public Partnerships and Swiss Life Asset Managers) and Dalmore Capital. The transaction has arisen due to DIF III coming to the end of its fund life.

Tideway is a unique UK infrastructure project and is the largest single asset in the UK water sector. The 25km long tunnel is being constructed to help prevent the release of 37 million cubic metres of untreated sewage that is currently discharged into the River Thames in a typical year. The ‘super sewer’ will significantly increase the capacity of London’s sewer network and help to transform the River Thames into a healthier and cleaner river.

DIF, along with Allianz, Amber Infrastructure and Dalmore Capital, was awarded the project licence for Tideway from Ofwat in 2015, and has managed the project successfully through its most challenging construction phase. At the end of April 2022, Tideway reached a significant milestone with the completion of tunnelling.

Andrew Freeman, Head of Exits at DIF, said: “During our joint ownership, the co-shareholders have championed our collective vision of providing long-term benefits to London by upgrading its essential infrastructure. We are delighted to leave Tideway under their stewardship.”

DIF was advised by RBC Capital Markets (financial) and Norton Rose Fulbright (legal).

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 11 billion in assets under management across ten closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

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

DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact: Thijs Verburg, t.verburg@dif.eu.

 

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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.

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27 April 2021  |  Toronto

DIF Capital Partners and PERENfra announce North American water infrastructure partnership

DIF Infrastructure Fund VI, managed by DIF Capital Partners (“DIF”) and PERENfra LLC (“PERENfra”) are pleased to announce the signing of a partnership agreement to develop and acquire water infrastructure opportunities in North America. The partnership will focus on all areas of water for municipal and industrial uses, targeting large scale investments towards development of a significant portfolio of over USD $1.5 billion.

PERENfra is led by an experienced management team with a strong network in the water sector and has several investment opportunities already in process. DIF’s complementary expertise in development and infrastructure investment as well as access to capital through its DIF Infrastructure Fund VI will help accelerate growth of the portfolio. The partnership’s investment strategy focuses on both acquisitions of operational projects and late-stage development projects targeting water efficiency and reliability while providing positive social and environmental impacts.

Jeff Nelson, Founder and CEO of PERENfra said “We are proud and excited to partner with DIF to provide essential water infrastructure in North America and beyond. There is a transition coming in water infrastructure, and as the needs for water continue to become more complex, we have built an industry leading team with the right partners to provide safe, sustainable, efficient solutions for the long-term.”

“Significant capital is required for necessary upgrades in water infrastructure systems across North America. DIF is pleased to be partnering with the experienced specialist team at PERENfra in pursuit of critical investments in essential water infrastructure.” said Marko Kremer, Head of DIF North America.

DIF was advised by Allen & Overy (legal). PERENfra was advised by Davis Graham & Stubbs (legal) and Mount Vernon Partners (transactional).

 

About DIF Capital Partners:

DIF Capital Partners is a global independent investment fund management company with approximately €8.5 billion of funds under management. Through nine investment funds, DIF Capital Partners invests in high-quality infrastructure assets that generate long-term and stable cash flows, including water, transportation, renewable energy, regulated utilities, and other infrastructure projects in North America, Europe, South America and Australia.

https://www.dif.eu/

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

 

About PERENfra:

PERENfra is a United States based infrastructure company focused on operational and development opportunities in the water sector across various geographies. PERENfra takes a long-term approach to owning and operating essential assets and our team has a reputation of providing efficiency and certainty for our clients and partners. PERENfra currently owns and operates assets providing municipal water supply and environmental conservation.

https://www.perenfra.com/

 

 

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19 April 2021  |  London

DIF Capital Partners agrees to sell a portfolio of European PPP assets to Equitix

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure III (“DIF III”) and DIF Infrastructure IV (“DIF IV”) have agreed to the sale of their stakes in a portfolio of six European PPP assets to Equitix, a leading UK and European infrastructure fund manager.

The portfolio consists of shareholdings in a number of critical infrastructure projects that DIF invested into as primary transactions: A1/A6 Road, IJmond Sea Lock and N18 Road in the Netherlands; A7 Nord Road and Netz West Rolling Stock in Germany; as well as the KAV Vienna Hospital in Austria. With the exception of IJmond Sea Lock which is currently in the final stages of construction, all of the projects are operational under availability-based contractual structures that are backed by strong public counterparties.

Andrew Freeman, Head of Exits at DIF, said: “We are very pleased with the sale of this well diversified and optimised portfolio of North-Western European PPP assets which represents an attractive exit for our DIF III and DIF IV investors. We believe Equitix is an excellent counterparty and is perfectly positioned to manage the assets until maturity.”

Hugh Crossley, Chief Investment Officer for Equitix, said: “As we continue to diversify and grow our European portfolio, we are always looking out for attractive opportunities to acquire high-quality assets that meet our responsible investment criteria. The DIF portfolio does just this and will allow us to leverage our continental expertise for the benefit of investors in our European Infrastructure Fund.”

DIF was advised on the transaction by Cantor Fitzgerald and PwC (financial), Allen & Overy (legal), PwC (tax & accounting), as well as Atkins and Arup (technical).

Equitix was advised by CMS (legal), Deloitte (tax and accounting) and Arcadis (technical).

Closing of the transaction is subject to the receipt of customary approvals and consents.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 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.

 

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10 January 2020  |  Paris

DIF Capital Partners agrees to sell a portfolio of French PPPs

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure III (“DIF III”) has agreed to sell a portfolio of eight operational PPPs in France to 3i European Operational Projects Fund.

The portfolio consists of significant shareholdings in three educational facility projects, one multimodal train station project, one fire station project (consisting of 12 fire stations), two prison projects (consisting of three prison facilities each) and one sewer project. The projects are operational under availability-based and long term contracts, with the exception of the sewer concession project, and are all backed by strong public counterparties. Six of the eight projects were developed and acquired by DIF III as greenfield projects, and have been successfully managed into stable operational projects during DIF’s ownership.

Andrew Freeman, Head of Exits, said: “We are pleased with the sale of the portfolio that was successfully optimized throughout the life of the assets and exited via a competitive portfolio sales process. The sale represents a further underpinning of DIF’s long standing track record in the French infrastructure market and is an attractive exit for DIF III.”

DIF was advised by KPMG (M&A, Tax & Accounting), Allen & Overy (Legal) and Currie & Brown (Technical) and Egis (Technical for the sewer project).

Closing of the transaction is subject to receipt of certain customary project-counterparty approvals and antitrust consent.

About DIF Capital Partners

DIF is an independent infrastructure fund manager, with €6.0 billion of assets under management across eight closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 135 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

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

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19 June 2019  |  Santiago

DIF opens office in Santiago (Chile)

DIF is pleased to announce that it has opened an office in Santiago, Chile. From Santiago DIF will target Latin America with an initial focus predominantly on Chile and Uruguay.

The office will be headed by Daniel Aninat, who is hired as a Managing Director. Daniel came from Scotiabank, where he was heading the Chilean corporate banking division. Before that he was head of project and acquisition finance for Santander in Chile. Daniel has a broad experience in the Latin American infrastructure and power sectors. Furthermore Luis Hinojosa, Senior Director in DIF’s Madrid office, will relocate to Santiago. Luis is with DIF since 2015 and has a broad infrastructure experience, including in different Latin American countries.

Wim Blaasse, Managing Partner at DIF: “Latin America is a large and fast growing infrastructure market, in which we see several interesting investment opportunities across all our target sectors. We are delighted with this next step for DIF and further expand our global office network to nine offices, enabling us to better source and manage projects locally, as well as continue to construct diversified portfolios.”

About DIF

DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America, South America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has a team of over 120 professionals, based in eight offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please visit www.dif.eu for further information.

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

night time motorway sky shot
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22 May 2017  |  London

DIF completes the acquisition of Affinity Water

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

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

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

DIF Profile

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

For more information, please contact:

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

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

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2 May 2017  |  London

DIF together with its consortium partners acquires Affinity Water

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

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

DIF Profile

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

For more information, please contact:

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

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