Infrastructure Equity

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:

• Only invest in true infrastructure.
• Only invest in assets that have clear and measurable cash flows.
• Only invest where we can do so at a price below our fundamental assessment of long term value.
• Ensure that every acquisition has a conservative level of gearing.
• Always protect and enhance the value of our investments through active asset management.

Whitehelm’s active asset management allows us to both protect and enhance the value that is generated from each investment.