Ancala Partners has raised £400m (€460m) for a UK infrastructure platform, working closely with Willis Towers Watson.
Ancala collaborated with the pension fund consultancy to create a flexible structure for investors.
Karen Dolenec, head of real assets at Willis Towers Watson, said: “Core infrastructure investments are understandably receiving more interest from institutional investors.
“Introducing flexibility into the structure to allow bespoke portfolios to be built and held indefinitely enables our clients to access long-term cash flows far more directly than has been the case so far.”
The capital raise means Ancala, which was created in 2010, now has more than £800m of investor capital committed across its investment vehicles.
Ancala, which focuses on core, mid-market assets, said it was preparing a similar mid-market investment platform with a broader European focus.
Spence Clunie, managing partner of Ancala, said: “With our wide networks and hands-on industry expertise, we are proactively sourcing investments and improving operations, cost structures and the commercial positioning of our investments to realise their full potential.”
Ancala bought Green Highland Renewables, a hydro asset owner and operator and International Energy Group, a gas distribution network operator on the Isle of Man, Guernsey and Jersey.
The firm’s investments include a natural gas and LPG distribution and supply business, a portfolio of solar sites and a developer, owner and operator of hydro power plants.