Investment
Alpha Trains Junior Debt
Current Investments
Investments Listing
Alpha Trains Junior Debt
Alpha Trains is the largest private rolling stock lessor in the passenger and freight markets in Continental Europe, providing over €2.1 billion in rolling stock to both public and private operators. Alpha Trains’ locomotives division comprises Europe’s largest and most diversified fleet of almost 370 diesel and electric locomotives, while the passenger train division comprises 334 diesel and electric trains.
APA Medium Term Notes
APA Group owns and operates gas transmission, distribution and storage assets across mainland Australia, and has interests in a range of other energy infrastructure investments. The company is listed on the Australian Securities Exchange (ASX: APA). The APA Medium Term Notes pay a fixed coupon of 3.5% p.a. and mature in 2020.
Aunor Senior Secured Bonds
Autovia del Noroeste (Aunor) operates a 62.4km motorway (RM-15) located in Murcia, Spain under a shadow toll regime. The concession for the construction and the operation of the motorway was granted by the Regional Government of Murcia in May 1999 and expires in September 2026. Aunor benefits from robust patronage with traffic currently 158% above the maximum guaranteed average daily traffic, ensuring very stable cashflows. Aunor is owned by Sacyr Concesiones (51%) and Eiser Infrastructure (49%).
Calisen
Calisen is the holding company for Calvin Capital, UK Meter Asset Provider (“MAP”) and Lowri Beck, UK meter installation and services company. With an installed base of 8.8 million meters, the company is a leading integrated MAP with c. 29% market share and track-record in the metering market since 2002
Sydney Airport Senior Medium Term Notes
Sydney Airport is Australia’s largest airport and operates under a long-term lease from the Australian Government. Sydney Airport is listed on the Australian Securities Exchange (ASX: SYD). The capital indexed bonds mature in 2023 and provide an inflation-linked coupon of 3.9%.
TDF Holdco Junior Loan
TDF is the market leader in the provision of TV and radio broadcast networks, telecom infrastructure solutions and digital terrestrial media platforms in France. The company has a portfolio of high quality real assets in key locations with the widest geographic coverage in France, which are critical to the reception of TV and radio channels, and to the functioning of mobile telephone networks.
Wireless Investment Group
Wireless Infrastructure Group (“WIG”) owns or has exclusive rights to wireless infrastructure assets across the UK, which it leases to Mobile Network Operators (“MNOs”). WIG is the UK’s largest independent pure-play Towerco with a 12-year track record of successfully expanding beyond towers into new wireless infrastructure assets.
Yorkshire Water
Yorkshire Water is the the fifth-largest water and sewerage company in the UK by both Regulatory Capital Value and by number of customers served. The business provides drinking water and sewage treatment for 5.0 million customers in the Yorkshire region, in the North East of England.