Since 1998 we have acquired over 59 unlisted infrastructure assets, making Whitehelm one of the world’s most experienced unlisted infrastructure investors
Whitehelm has been originating, acquiring, and managing unlisted infrastructure assets for institutional investors for over 23 years. Over this period, we have invested more than €5.3 billion in over 59 unlisted infrastructure assets, with €5.6 billion returned to investors and €2.0 billion in assets currently under management. We have achieved strong returns of over 11.9% p.a. across multiple market cycles and with an exceptional track record of capital preservation.
Whitehelm’s unlisted infrastructure investment approach is underpinned by a relentless focus on relative value. Our approach to investing remains focused on unlisted equity investments in the small and mid-market of the infrastructure sector. This focus is a result of the more limited competition in this sub-sector in contrast to the high competition and high valuations at the larger end of the infrastructure sector.
Our comprehensive ‘bottom-up analysis’ of the cash flows that are generated by assets allows us to broaden the opportunity set, facilitates effective comparison of opportunities, and enables selection of those assets and sectors offering the highest risk‑adjusted returns at any point in time.
Whitehelm’s rigorous Investment Philosophy also means that we:
Whitehelm’s active asset management allows us to both protect and enhance the value that is generated from each investment.
We work collaboratively with our investee companies across all facets of their business – from the strategic and operational direction to financing structures – to unlock additional returns for our clients and protect them from any downside.
Whitehelm’s unlisted infrastructure offering provides:
Kvitebjørn Varme is the district heating network in the city of Tromsø, the largest urban area in Norway inside the Arctic Circle. It produces more than 170 GWh of thermal energy annually, primarily from sustainable and low carbon generation technologies (including a modern 22MW waste to energy plant with an annual capacity of 56,000 tons). The heat is distributed through a network of 55km of underground pipes.
SAREN Energy is a Nordic renewable and sustainable energy platform formed from the merger of two brownfield energy-from-waste heat generation plants in the south of Norway. The combined platform will deliver more than 300 GWh of steam and heat to a district heating network and local industries in the Nordics, as well as providing power directly to the grid. The platform processes c. 140,000 tonnes of waste, reducing landfill land and contributing to the circular economy of the region.
ITE College West was the first social infrastructure PPP in Singapore, and the first education project in Asia developed with an availability-based payment mechanism.
With over 7,700 full-time students, ITE College West is an established post-secondary institution with on-campus facilities to enable the Institute of Technical Education to deliver students of the college practical work experience with industry partners within a business town concept.
One of the world’s most experienced infrastructure managers & investment strategy advisers