Schiphol Archives - DIF Capital Partners

2 April 2024 | Schiphol

DIF Capital Partners opens office in Italy

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

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

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

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

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

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

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

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

About DIF Capital Partners

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

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

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

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

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

Press contact:

DIF Capital Partners: press@dif.eu

8 March 2024 | Schiphol

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

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

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

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

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

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

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

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

3. How diverse is DIF as an organisation?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

5 March 2024 | Schiphol

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

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

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

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

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

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

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

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

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

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

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

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

About DIF Capital Partners

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

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

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

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

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

Press contact:

DIF Capital Partners: press@dif.eu

DIF Capital Partners raises EUR 6.8 billion

21 December 2023 | Schiphol

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

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

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

Congratulations to all of you!

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

Dan Fetter has been appointed as Deputy Head Value Creation

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

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

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

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

Promotion to Analyst
Jenny Chen

A vase with flowers with people in the background

21 November 2023 | Schiphol

DIF Capital Partners to acquire a majority interest in Novar, leading Dutch developer of green energy systems

DIF Capital Partners (via its DIF Infrastructure VI fund) has signed an agreement to acquire 60% of Novar, the leading developer of large-scale sustainable energy systems in the Netherlands.

The transaction marks the start of a long-term collaboration to deliver sustainable and innovative renewable energy solutions. As part of the investment, DIF will provide growth capital to among others support the expansion of Novar’s utility-scale solar, rooftop solar and Battery Energy Storage Systems (BESS) portfolio.

Headquartered in Groningen, Novar owns and operates 440MW of utility-scale solar PV, rooftop solar and BESS projects. It has a development project pipeline of more than 15GW. Novar is a front-runner in integrated energy solutions, currently developing the largest private grid project in the Netherlands, which will provide grid connection for several of its large-scale solar and BESS projects, as well as the first Dutch solar thermal and green hydrogen projects.

The company operates a fully integrated Independent Power Producer model, providing operation & maintenance, technical & commercial asset management and consultancy & flex services to its own portfolio and to third parties.

Gijs Voskuyl, Partner at DIF, said: “The investment in Novar presents an opportunity for DIF to support the Dutch solar energy market leader with a long track record of successfully delivering ground-mounted and rooftop projects. Its existing 440MW contracted portfolio offers a robust investment proposition and with the extensive pipeline in solar and storage projects, we can continue to invest in energy transition investment opportunities going forward. We’re looking forward to working with Novar’s management team to continue to jointly grow the company in the years ahead.”

Gerben Smit, CEO of Novar Holding, expressed his enthusiasm, stating, “Thanks to this strategic partnership, Novar has the opportunity to shape further growth, expand internationally and achieve the target of 4GW of operating capacity by 2030.”

DIF was advised by KPMG (financial advisor), McKinsey (commercial advisor), Arup (technical advisor) and NautaDutilh (legal advisor). Novar was advised by Voltiq (financial advisor), Eversheds Sutherland and Hogan Lovells (legal advisors).

The transaction is subject to regulatory and other approvals and is expected to close in the fourth quarter of 2023.

About Novar Holding:

Novar Holding, formerly Solarfields, was founded in 2014 and specializes in the development of large-scale sustainable energy systems. For more information, please visit www.novar.nl.

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with ca. EUR 16 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds 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 infrastructure, energy transition and sustainable transportation sector.

With a team of over 225 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.

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

Press contacts:

DIF Capital Partners: press@dif.eu

Novar: David de Jong, david.dejong@novar.nl, +31 6 27971111

31 October 2023 | Schiphol

DIF Capital Partners and EDF Invest to acquire leading Norwegian electric ferry operator Fjord1

DIF Capital Partners (via its DIF Infrastructure VII fund), and EDF Invest (the investment arm of the EDF Group in real assets) have entered into a definitive agreement to acquire Fjord1, the largest owner and operator of ferries in Norway.

The company will be acquired from Vision Ridge Partners, a global sustainable real assets investor, and Havila Holding, an investment company owned by the Sævik family in Norway. Vision Ridge and Havila Holding have been investors in Fjord1 since 2019 and 2011, respectively. Terms of the transaction were not disclosed.

Operating under long term concessions and with a fleet of 81 vessels, Fjord1 is Norway’s largest ferry operator and the nation’s leading owner and operator of electrified ferry transportation. Ferries are an integral part of the Norwegian transportation infrastructure, with the company serving approximately 50% of all Norwegian passengers and providing critical high-frequency boat services between the mainland and islands, as well as across fjords that facilitate commuting, leisure, tourism, and goods transportation across the country.

Gijs Voskuyl, Partner at DIF, says: “We’re very excited to invest in Fjord1, which is operating under a concession-based model, and which is a leader in delivering environmentally friendly and reliable ferry transportation in Norway. We look forward to working with our partner EDF Invest and the company’s management team to continue to invest in new vessels as Fjord1 continues to grow its electrified fleet to support the energy transition of the ferry industry.”

Alexandre Pieyre, Head of EDF Invest, adds: “EDF Invest is thrilled to invest in Norway and become a shareholder of Fjord1, a company at the forefront of innovation and decarbonization. Alongside our partner DIF and with an experienced management team, we look forward to supporting the company and its employees to pursue this low carbon strategy and to bring even more innovation to the transportation industry.”

Following the close of the transaction, which is expected in early 2024, Fjord1 will continue to be led by CEO Dagfinn Neteland, supported by his current team of over 1,000 employees.

“Management is pleased that the sales process has been completed, which has been a long and thorough process, where we experienced significant interest in the company from a number of parties. The management team is excited and looking forward to working with the new owners of the company and jointly build on the strong position that Fjord1 has in the market to make the company even stronger in the years ahead.” says Dagfinn Neteland, CEO of Fjord1.

Under Vision Ridge’s and Havila Holding’s ownership, the proportion of vessels within Fjord1’s fleet that operate on electricity has increased by over 50%. As a result, Fjord1’s operating fleet today is approximately 60% electric – the highest proportion in Norway – and comprises approximately half of all electric ferries currently operating in Norway, serving 44 routes across 16 contracts in the Norwegian market.

“Having been part of a transitional period for Fjord1, where the company has been at the forefront of implementing electric ferries, we are happy to have found a new owner for Fjord1 who can help develop the company further. The last tender win where Fjord1 is to deliver autonomous operations is a testament to the competence in the company. There is no doubt in my mind that Fjord1 will continue to be a world leader in zero emission transportation and operational excellence,” comments Vegard Sævik, Chairman of Fjord1 AS & Board of Director at Havila Holding.

“Since investing in Fjord1 in 2019, we have worked closely with Havila Holding to strategically scale the company’s operations and increase fleet electrification to help cement its position as the nation’s leading owner and operator of electrified ferry transportation. Vision Ridge is proud to have executed our mission of mobilizing capital to address climate change and the tremendous progress Fjord1 has made over the last five years as a result. We are confident that DIF and EDF Invest are the ideal partners to help further grow Fjord1’s market share of the Norwegian fleet sector and look forward to the company’s continued success,” concludes Reuben Munger, Managing Partner and Chief Investment Officer of Vision Ridge.

Rothschild & Co. served as financial advisor, and Ropes & Gray LLP and Schjødt served as legal advisors, to Vision Ridge and Havila Holding. DIF and EDF Invest are advised by Deutsche Bank and Cantor Fitzgerald (financial advisors), Jefferies and Cantor Fitzgerald (debt advisors), Wikborg Rein (legal advisor), Allen & Overy (legal advisor – financing), Roland Berger (commercial advisor), Arup (technical advisor), PWC (financial and tax advisor) and Deloitte (operational advisor).

Press contacts:

For DIF Capital Partners

press@dif.eu

For EDF Invest

jessica.goncalves@edf.fr

For Havila

Vegard Sævik

vegard@havila.no

For Vision Ridge Partners

Amanda Shpiner/Sara Widmann

Gasthalter & Co.

(212) 257-4170

Vision-Ridge@gasthalter.com

About Fjord1

Fjord1 is the leading floating bridge operator in Norway, providing critical high-frequency ferry and express boat services with a large fleet of modern and electric ferries. Since starting operations in 1858 in Florø, Fjord1 has extended its fleet to 81 vessels (including 39 electric projected as of end of year) and now operates 44 routes across 16 contracts. Revenues are underpinned by long-term availability-based contracts which have no volume risk and Fjord1 is leading the shift to zero-emission ferry connections. For more information, please visit: www.fjord1.no/eng.

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with ca. EUR 16 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds 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 infrastructure, energy transition and sustainable transportation sector.

With a team of over 225 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.

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

About EDF Invest

EDF Invest, the investment arm of EDF for non-listed Dedicated Assets, currently manages around €9bn of equity and is targeting around €12 billion in the next few years. EDF Invest contributes to the funding of the decommissioning of EDF’s power plants in France. Its mission is to diversify EDF’s portfolio of Dedicated Assets and lengthen its investment horizon by targeting three non-listed asset classes in France and abroad: Infrastructure, Real Estate and Funds. For more information, please visit www.edfinvest.com or follow us on Linkedin.

About Havila Holding

Havila Holding is a family-owned, industrial investment company located in the west coast of Norway. Based on the family’s background in fishing vessels Havila Holding has utilized the generational know-how of safe and efficient operations to establish a portfolio of companies with a main focus in the maritime sector. The company is owned by the Sævik-family. For more information, please visit: https://en.havila.no/.

About Vision Ridge Partners

By seeking to deliver superior investment returns, Vision Ridge mobilizes capital to address humanity’s greatest challenge: climate change. The Vision Ridge team seeks to leverage its diverse, complementary skillsets, deep industry experience, and strong network of relationships to execute investments across sustainable real assets with a focus on energy, transportation and agriculture. Vision Ridge manages approximately $3.25 billion on behalf of institutional investors globally, as of September 30, 2023. For more information, please visit: https://vision-ridge.com.

19 October 2023 | Schiphol

DIF Capital Partners appoints new Head of ESG

DIF Capital Partners (DIF) is pleased to announce that it has appointed Lorraine Becker as its new Head of ESG.

Lorraine joins DIF, having served as its interim Head of ESG for the last six months. Previously, she was a Principal Consultant for the world’s largest pure sustainability consulting firm, ERM (Environmental Resources Management) in Calgary, Canada.

At ERM, Lorraine served leading financial services clients, including private equity and pension funds, in developing and implementing best-in-class ESG policies. Lorraine’s previous career includes roles in environmental consulting and corporate sustainability for major businesses in the energy sector both North America and Europe.

DIF has an ongoing commitment to being a responsible investor, as a signatory to the United Nations Principles of Responsible Investment (UNPRI). In addition, DIF recognises the importance of the goal of Net Zero greenhouse gas emissions by 2050, or sooner, in line with global efforts on climate change as a result of the Paris Agreement. It is also a signatory to the Net Zero Asset Managers (NZAM) initiative.

Lorraine Becker comments: “Over the coming years, DIF will have an ongoing commitment to being a responsible investor. I’m thrilled to be part of that. It’s exciting to work for a business with a track record of embedding ESG into its business.”

Wim Blaasse, Managing Partner at DIF said: “We’re delighted to welcome Lorraine to DIF permanently. She has already made a major contribution to the business over the last six months. We look forward to her continuing to help drive DIF’s commitment to delivering a positive contribution to a sustainable future.”

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with ca. EUR 16 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds 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 infrastructure, energy transition and sustainable transportation sector.

With a team of over 225 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.

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

Contact DIF Capital Partners: press@dif.eu

12 October 2023 | Schiphol

DIF Capital Partners closes credit facility with innovative ESG performance criteria

DIF Capital Partners (“DIF”) is pleased to announce that it has successfully extended its EUR 1.2 billion credit facility with its main group of lenders for another year until September 2024. As part of this deal, ESG-linked performance criteria have been added to the loan agreement.

The credit facility was closed by the DIF Infrastructure VII fund and is provided by a club of banks including ABN AMRO, BMO, BNP Paribas, HSBC, ING, National Bank of Canada, Rabobank and Santander CIB. ING Bank acted as Sustainability Coordinator.

The loan agreement has been amended to include KPIs for ESG performance, relating both to DIF as a manager and to the ESG performance improvement of the underlying portfolio.

The inclusion of these ESG KPIs in the credit agreement underlines DIF’s desire to positively contribute to a sustainable future. In return, the DIF Infrastructure VII fund benefits from a reduction in margin on the facility upon meeting those KPIs. If the fund does not meet these goals, it will pay a margin premium. This arrangement reflects the lenders’ own ESG positions and commitment to a sustainable future.

“We are delighted to again be working with our long-term lending partners on this innovative credit facility, featuring clear ESG KPIs. The close of this agreement confirms our commitment to delivering a positive contribution to a sustainable future,” said Gijs Voskuyl, Partner and Deputy CEO at DIF.

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with ca. EUR 16 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds 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 infrastructure, energy transition and sustainable transportation sector.

With a team of over 225 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.

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

Contact DIF Capital Partners: press@dif.eu

10 October 2023 | Schiphol

DIF Capital Partners makes double partner promotion in London and New York offices

DIF Capital Partners, the infrastructure equity fund manager with €16bn in AUM, has promoted both Kanan Joshi as well as Caine Bouwmeester from Managing Director to Partner.

Kanan joined DIF in 2021 and is based in New York. She is managing the New York office, is co-head for the firm in North America and Global Head of Digital Infrastructure. Caine joined DIF in 2020, is based in London and is Global Head of Renewable Energy.

Together they bring a wealth of experience in digital infrastructure and renewable energy investments.

Kanan is recognised within the infrastructure industry as an expert in telecoms, including data centres and fibre. Prior to joining DIF, she worked at private investment firms Upper Bay and Digital Bridge, where she was part of the teams leading data center investments. Prior experience also includes roles at JPMorgan and Deutsche Bank advising companies across North America, LATAM and Asia and execution of high-profile M&A and capital raising transactions. Kanan holds a bachelor’s degree in commerce from the University of Mumbai and an MBA from the University of Chicago.

Caine is a renewable energy specialist with more than 16 years’ experience and a track record of developing, acquiring and investing in green energy projects and companies around the world. Prior to DIF, Caine was at Macquarie Capital and the Green Investment Group where he originated and executed infrastructure and renewable energy investments globally, having worked in London, Johannesburg and Toronto. Caine holds a bachelor’s degree in business and financial mathematics from Wilfrid Laurier University and a Masters of Finance from INSEAD.

Wim Blaasse, Managing Partner at DIF said: “We are delighted to welcome Kanan and Caine as partners at DIF. They have contributed meaningfully to our growth, and we look forward to the further contributions Caine and Kanan will bring to both our firm and our portfolio in the years to come.”

About DIF Capital Partners

DIF Capital Partners is an infrastructure fund manager with ca. EUR 16 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds 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 infrastructure, energy transition and sustainable transportation sector.

With a team of over 225 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.

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

Contact DIF Capital Partners: press@dif.eu

5 September 2023 | Schiphol

CVC acquires leading infrastructure manager DIF

This strategic acquisition provides CVC with a leading infrastructure platform, directly adjacent and highly complementary to its existing private equity, secondary and credit strategies. In addition, this acquisition accelerates the growth of DIF, which will continue to operate under the DIF brand and retain independence over its operations and investment decisions.

CVC, a leading global private markets manager focused on private equity, secondaries and credit is acquiring a majority stake in leading infrastructure manager, DIF Capital Partners, and providing a commitment to acquire the remaining shares over time. This combination creates a global private markets manager with seven complementary strategies and approximately €177 billion* of total assets under management.

DIF is headquartered in Amsterdam with €16 billion of assets under management, a team of over 225 professionals across 11 offices and operating two different investment strategies – the Core / Build-to-Core funds and the Core-plus funds. DIF was founded in 2005 and has built a leading position in mid-market infrastructure investments, primarily in Europe, North America and Australia. The tie-up with CVC will help accelerate growth, as DIF continues to deepen and widen both its investment capabilities, its geographic reach and its global investor base. DIF will continue to be led by its current CEO and Partners and it will continue to operate under the DIF brand.

Commenting on the transaction, CVC Chair and Co-Founder, Rolly van Rappard said: “Expanding into infrastructure is a logical next step for us, given the long-term secular growth trends in infrastructure and its adjacency to our existing strategies. We have known the DIF team for several years, and we are delighted to partner with one of the top pure-play global infrastructure managers, with an impressive track record of performance and growth.”

Rob Lucas, Managing Partner at CVC added: “We are excited to join forces with DIF, a top-performing global infrastructure manager. DIF’s business model and culture is deeply aligned with our local model, and our new infrastructure platform will prove highly complementary to our leading private equity, secondary and credit strategies. We are pleased to welcome Wim, the DIF Partners and the entire DIF team to the CVC group and together, we look forward to being a global leader in infrastructure.”

Wim Blaasse, CEO and Managing Partner at DIF said: “We are delighted to be teaming up with CVC, which is a natural step in the evolution of DIF and, together with my Partners, I look forward to leading DIF in this next phase of growth. We have known the CVC team for many years, we have been very impressed by everything they have built and we are excited about becoming part of the CVC group. This transaction enables us to benefit from CVC’s global platform, scale and investor relationships, and to double down on important infrastructure sectors like Energy Transition and Digitalisation while retaining independence over our investment decisions.”

The transaction is subject to regulatory and other consents and is expected to close in Q4 2023 or Q1 2024. The Dutch works council of DIF has been informed and positively advised on the transaction. Advisers to CVC in this transaction included JPMorgan. DIF’s advisers included, among others, Morgan Stanley & Co. Plc, Loyens & Loeff, PwC and De Brauw.

* Pro forma for recently closed fundraise

Contacts

DIF
press@dif.eu

CVC
Patrick Humphris, phumphris@cvc.com
Carsten Huwendiek, chuwendiek@cvc.com

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with c.€16 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 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 225 professionals in 11 offices, DIF combines 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.

For more information, please visit www.dif.eu.

About CVC

CVC is a leading private equity and investment advisory firm with a network of 25 offices throughout EMEA, the Americas and Asia, with approximately €161 billion of assets under management.

CVC has six complementary strategies across private equity, secondaries and credit, for which we have secured commitments in excess of €200 billion from some of the world’s leading institutional investors across its private equity, credit and secondaries strategies. Funds managed or advised by CVC are invested in over 125 companies worldwide, which have combined annual sales of approximately €130 billion and employ more than 450,000 people.

For further information about CVC please visit: www.cvc.com.

28 March 2023 | Schiphol

Changes to DIF Capital Partners’ Executive Committee

The Supervisory Board of DIF Management B.V. is pleased to announce changes to the composition of its Executive Committee (ExCo) designed to create a more effective and focused governance body.

DIF’s ExCo is responsible for the daily operations of the firm and ultimately for the execution of the investment strategies of the funds. The ExCo leads the organisation, sets policies and oversees performance versus strategic objectives.

Given the growth of the firm over recent years, DIF has concluded that a more streamlined ExCo will optimize the efforts of DIF’s partners and ensure the ExCo’s continued effectiveness.

Therefore, as from 15 February 2023, the ExCo of DIF Capital Partners consists of five members:

Chief Executive Officer (CEO): Wim Blaasse
Deputy CEO: Gijs Voskuyl
Chief Investment Officer (CIO): Allard Ruijs
Chief Financial Officer (CFO): Zaina Ahmed-Karim
Chief Risk Officer (CRO): Anne Snel-Simmons

Wim Blaasse continues to act as DIF’s CEO (Managing Partner), the chairman of the ExCo and the chairman of all of DIF’s investment committees.

Gijs Voskuyl has been appointed DIF’s Deputy CEO, a new role in the ExCo, taking over a number of responsibilities from Wim with regards to managing the broader DIF organisation. Gijs joined DIF in 2008 and has played an instrumental role in a large number of transactions over the last 15 years. Gijs will continue his lead role managing the traditional DIF funds (including DIF Infrastructure VII).

Allard Ruijs has been appointed Chief Investment Officer (CIO). This is a new role within DIF and will involve overseeing the development of all of DIF’s investment strategies, which includes deal oversight from origination and execution, through to asset management and ultimately exit. Allard will continue to oversee DIF’s investor relation activities and will continue to act as vice-chairman of the investment committees of all DIF-managed funds. He joined DIF in 2007 in the investment team. From 2012 through 2022, Allard was Head of Investor Relations & Business Development.

The Chief Financial Officer (CFO) as well as Chief Risk Officer (CRO) roles will remain unchanged and are filled respectively by Zaina Ahmed-Karim and Anne Snel-Simmons. Zaina and Anne joined DIF in 2022 and 2018, respectively.

The Dutch Authority for the Financial Markets has approved the appointments and the Works Council has given its positive advice.

With the streamlining of the ExCo and the creation of the Deputy CEO and CIO roles, DIF believes it is well-positioned for the next chapter of its successful growth journey.

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 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 210 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.

9 March 2023 | Schiphol

Meet our experts at the Infrastructure Investor Global Summit from 20-23 March

Eleven more days to go until the start of the annual Infrastructure Investor Global Summit in Berlin!

Meet our Investor Relations team and make sure not to miss out on what three of our thought leaders have to say in their respective panel sessions:

Our Head of Digital Infrastructure and Managing Director Kanan Joshi will speak on digital infrastructure;
Partner and Head of Instructure Gijs Voskuyl will be on a panel on the global infrastructure landscape;
Last but not least, partner and Head of CIF Willem Jansonius will talk about energy transition.

See you in Berlin from 20-23 March!