A meeting with a pension fund that is a prospective investor in the new fund we are raising. The investment manager wants to know about the kinds of assets the fund will acquire and the expected level of return. I explain our investment style and time horizon and give a presentation on the past performance of the fund.
We invest in infrastructure projects. The portfolio includes ports, toll roads, water treatment plants and renewable energy assets located in the UK, Spain and Germany. I like the infrastructure sector because I have a preference for real, stable assets that have social value. These are investments that make a social and economic contribution to communities.
We invest long-term, typically holding investments for nine or ten years. This makes us a suitable investment for institutional investors like pension funds that have long liabilities. We create value by making operational improvements to our portfolio companies, improving their capital structure, providing strategic direction and, when appropriate, making acquisitions to accelerate growth.
I like being an asset owner. It’s very satisfying to see a business prosper.