Dalmore has raised and invested over £5.0 billion via discretionary funds and co-investment vehicles.
Dalmore Capital Fund LP
Dalmore Capital Fund LP reached final close in April 2013 raising £248.6 million to invest in operational PPP assets in the UK. The fund was fully committed within 12 months of final close. The Fund’s portfolio is comprised of 46 operational PPP assets in the UK.
PPP Equity PIP LP
PPP Equity PIP LP was launched following an exercise undertaken by five of the largest UK pension funds to select a third-party manager to deliver on a low volatility investment strategy for investment in operational PPP and OFTOs in the UK. Dalmore was selected as the manager and it increased the initial £260 million commitments received from the five pension funds to £534.4 million at final close in October 2015. The Fund became fully committed in 2018. The Fund’s portfolio is comprised of 18 investments with exposure to 51 underlying assets.
Dalmore Infrastructure Investments LP
Dalmore Infrastructure Investments LP is a single asset Fund established to bid for and invest in the Thames Tideway Tunnel project. The project involves the construction of a new 25km long, 7m wide super-sewer under the Thames River in London. The construction is planned over a 7-year period at a cost of approximately £4.3 billion. This is the first project developed under the Specified Infrastructure Projects Regulations and has a bespoke structure similar to a regulated utility. In May 2015, Dalmore raised £445 million from a wide range of UK pension funds and other long-term European investors, resulting in Dalmore fund being the joint largest shareholder in the project.
Dalmore Capital Fund 3 LP
Dalmore Capital Fund 3 LP reached final close in August 2018 raising £950 million to invest in low volatility infrastructure assets, predominately in the UK. The Fund was over 80% committed within three months of final close and consists of a diversified portfolio of low volatility infrastructure assets in the UK. This includes a portfolio of PPP assets acquired during the take private of the listed infrastructure fund, John Laing Infrastructure Fund, and regulated infrastructure assets such as the UK gas utility, Cadent, and water utility, Anglian Water Group, as well as a portfolio of UK wind farms owned in partnership with EDF and the project companies responsible for the delivery of new train fleets to the Great Western Railway Network and the UK Thameslink rail franchise.