Equity
Vantage Infrastructure’s equity business has been investing in European infrastructure since 2005 and manages US$1.0bn of assets across the Energy, Transportation, Environment and Data sectors
Asset Management and Asset Management Mandates
Vantage Infrastructure’s equity team specialises in non-discretionary asset management, bridging the requirements between direct institutional investors and portfolio companies.
We actively and sustainably manage core and core+ infrastructure investments on behalf of institutional clients with direct investments. Our experience ranges across control, co-control and minority positions in multiple infrastructure sub-sectors.
Vantage Infrastructure’s scope typically includes:
- Governance (e.g. representing Vantage clients on boards)
- Managing stakeholders
- Helping clients to make informed governance decisions through analyses and recommendations
- Managing other value creation and/or risk management processes related to portfolio companies such as growth strategies, management incentive plans, ESG frameworks, refinancings, M&A, regulatory strategy and submissions, business plans, etc.
- Valuations and reporting (managing independent valuations, manager valuations, periodic reporting, periodic investment reviews, ESG reviews, etc.)
Clients benefit from partnering with Vantage Infrastructure on asset management due to one or several reasons such as optimising resourcing, bringing in specialist expertise who already has the mindset of institutional investors, having a flexible partner to help “dial-up” or “dial-down” the number of investments managed in-house, match fixed and variable costs to AUM strategy or have an aligned partner to achieve objectives for particular investments.
We aim to lead and influence business outcomes by controlling risks and enhancing value, in order to maximise returns through active asset management processes and strategies.
These include operational efficiencies, driving growth, mitigating actions for risks identified during due diligence and value-creating exit strategies.
Tailored ESG action plans are formulated for each asset within a consistent and resilient framework, that aims to reduce the portfolio’s overall sensitivity to macroeconomic risks and shock events and capture value opportunities from sustainability and energy transition.
Investment Strategy and Asset Selection
Vantage Infrastructure primarily targets sustainable equity investments in Europe.
Portfolio
Current
Agronergy
Sector: Energy
Country: France
Investment year: 2021
Asset description: Renewable heating specialist providing turnkey biomass and geothermal heating solutions to residential, commercial and public buildings and to municipal district heating networks.
Sustainability angle: Provides 12.7 GWh of renewable heat annually, contributing towards France’s objective to reduce carbon emissions from buildings, in line with the country’s decarbonisation targets.
GRESB score (2023): 83/100
Website: www.agronergy.fr
South East Water
Sector: Environment
Country: UK
Investment year: 2005 & 2017
Asset description: The largest water-only company in the UK supplying 543 million litres of water a day to customers across the South East of England.
Sustainability angle: Delivers sizeable investments to improve its infrastructure for its customers and the environment. In 2022/23, the company’s capital expenditure was £102m.
GRESB score (2023): 99/100
Website: www.southeastwater.co.uk
Past
Australian Registry Investments
Sector: Data
Country: Australia
Holding Period: 2017 - 2024
Asset description: Sole provider of land titling and registration services in New South Wales, the most populous state in Australia.
Sustainability angle: Delivery of 100% electronic lodgements, replacing prior paper-based filings.
GRESB score (2023): 99/100
Website: www.nswlrs.com.au
Phoenix Energy Group
Sector: Energy
Country: UK
Holding Period: 2013 - 2024
Asset description: Largest gas distribution network operator in Northern Ireland providing gas to over 250,000 properties through more than 4,000 km of pipelines.
Sustainability angle: Reduces Greater Belfast’s carbon emissions through conversion of oil heating systems to less polluting gas. 700,000+ tonnes of CO2 saved annually.
GRESB score (2023): 97/100
Website: www.phoenixenergyni.com/
Porterbrook
Sector: Transportation
Country: UK
Holding Period: 2014 - 2021
Asset description: Porterbrook is one of the UK’s leading rolling stock companies with c. 4,500 vehicles, representing approximately one quarter of Britain's passenger rolling stock fleet.
Sustainability angle: Porterbrook has a large electric fleet and is actively investing in designing new zero-emission engines (battery and hydrogen).
GRESB score (2021): 99/100
Website: www.porterbrook.co.uk
Redexis
Sector: Energy
Country: Spain
Holding Period: 2018 - 2021
Asset description: Integrated energy infrastructure company active in the development and operation of natural gas transmission and distribution networks, the distribution and sale of liquefied petroleum gas and the promotion of new gas-powered mobility infrastructure, renewable gas and hydrogen.
GRESB score (2021): 91/100
Sustainability angle: Actively involved in Spanish energy transition through its gas networks and investments in hydrogen, solar photovoltaic and natural gas for vehicles.
Website: https://www.redexis.es/en/
Ventus Investments
Sector: Energy
Country: UK
Holding Period: 2015 – 2025
Asset description: Portfolio of four operating wind farms in England and Wales representing 85MW in installed capacity
Sustainability angle: Represents over 69,000 emissions-free homes powered.
GRESB score (2023): English wind farms: 92/100 and Welsh wind farms: 88/100
Websites: www.pfr.co.uk/crook-hill , www.pfr.co.uk/reaps-moss, www.pennantwalters.co.uk/site/pant-y-wal/ and https://pennantwalters.co.uk/site/mynydd-bwllfa/
All figures as of 31 December 2023 except:
1 Australian Registry Investments (30 June 2023)
2 South East Water (31 March 2023)
3 Agronergy (31 December 2022)