Dalmore Infrastructure Investment LP


BACKGROUND

Thames Tideway is the largest project undertaken by the UK water sector since privatisation. The project will assist in preventing c.40m tonnes of untreated sewage discharging into the River Thames in an average year from London’s Victorian sewerage network. The tunnel will be 25km long, 7.2m wide and up to 65m deep, and will control 34 overflows along the Thames.

Dalmore was a founder member within the Bazalgette consortium, which bid for the right to own, invest and finance the £3.1bn project.  To fund a third of the total equity requirement, Dalmore decided to raise a single asset fund to bid for and invest in the project.  Dalmore was able to raise a total of £440m 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.

 

 


KEY FACTS

FIRST CLOSE: 11th May 2015
VINTAGE YEAR: 2015
TOTAL COMMITMENTS: £440m
TERM: 25 years
FUND STRUCTURE: English Limited Partnership

 

 


ADVISORS

MANAGER: Dalmore Capital Ltd
AUDITORS: PwC
LEGAL: Pinsent Masons