SL Capital Partners Closes Inaugural Infrastructure Fund At $645M

Feb 9 2017 | 9:45pm ET

Standard Life Investments affiliate SL Capital Partners has raised £516 million ($645 million) in capital commitments for its debut infrastructure fund, well ahead of its £400 million target. 

The new fund, named SL Capital Infrastructure Fund I, was supported by a diverse cross section of financial institutions, local authority pension funds and family office investors from North America, the UK, and Europe, the company said in a statement.  

The fund will be managed by SL Capital head of infrastructure equity Dominic Helmsley, and target direct investment in mid-market core infrastructure transactions in the U.K. and northwest Europe in the transport, regulated utilities and energy infrastructure sectors. The primary objective is to achieve long term, predictable returns through a combination of yield generation and capital appreciation, SL said. Four investments committing 37% of the new fund’s capital have already been made.

“We are pleased with the support we received for what is one of the largest first-time funds raised for European mid-market infrastructure investment in the past five years,” said Roger Pim, deputy head of SL Capital Partners, in the statement. “Our investors have placed significant reliance on the quality and experience of the team, the positive alignment we offer and the strength of the SL Capital platform within Standard Life Investments.

“Our strategy and approach has attracted clients who are looking for a differentiated angle to core infrastructure investing,” added Helmsley. “Our pipeline of opportunities is strong across our core sectors of transport, regulated utilities and energy infrastructure and we expect to deploy significant capital during 2017.”

SL Capital Partners has raised more €10.5 billion across 32 funds since inception 18 years ago, investing across private equity, infrastructure, strategic credit and junior debt opportunities. The company’s parent, Standard Life Investments, is one of Europe’s leading asset managers with £269 in AUM as June 2016. 

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