PPP Equity PIP LP


BACKGROUND

PPP equity infrastructure fund with a focus on operational PPP investments in the UK. The fund is the result of an initiative by larger UK pension funds who came together to use their combined resources to invest in the infrastructure sector. They determined a strategy for investment in lower-volatility, long-term assets with index-linked returns and ran an extensive process to select managers to support their ambitions. Dalmore was selected as the first manager and the terms agreed with the initial investors were made available to other UK and international investors.  The fund is now fully invested and has provided investors with attractive yield returns from year one.


INVESTORS & FUNDRAISING

Five investors made commitments totalling £260m at first close. A further 12 investors increased total commitments to £534.4m. Financial close was reached in October 2015.


KEY FACTS

FIRST CLOSE: 14th February 2014
VINTAGE YEAR: 2014
TOTAL COMMITMENTS: £534.4m
TERM: 25 years
FUND STRUCTURE:  English Limited Partnership

ADVISORS

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