Aberdeen Standard Investments’ private markets arm SL Capital Partners has more than doubled its stake in a Dutch pipeline with the acquisition of further a 20% stake.
SL Capital Infrastructure I LP Fund (SLCI I) has acquired the InfraVia Capital Partners managed fund’s 20% interest in Noordgastransport (NGT).
Last September, SLCI I bought an 18% interest from Dutch exploration and production company Nederlandse Aardolie Maatschappij.
NGT owns a pipeline and processing plant transporting and treating natural gas that is principally produced from the Dutch Continental Shelf.
Dominic Helmsley, the head of economic infrastructure at Aberdeen Standard Investments, said: “This second stake in the NGT pipeline system follows our strategy to develop a strong presence in the European gas and midstream sector.
“The investment provides us with exposure to a greater number of gas fields, therefore diversifying cash flows for investors in our infrastructure fund. We will continue to work closely with the other shareholders and management team for the pipeline system, to deliver natural gas onshore in a safe and reliable manner.”
Vincent Lévita, CEO, InfraVia Capital Partners, said: “Since we acquired the 20% stake in NGT from Engie in 2014, the company has been performing well and has been providing high-quality infrastructure to the North Sea gas producers.
“We believe that with the recent development activity in the North Sea and the quality of its infrastructure, NGT will continue to play a critical role in the Dutch gas industry.”
SLCI I, which is focused on investing in core infrastructure assets in Europe, already holds six other investments including a hydro-electric plant in Norway, a gas distribution business in Finland, and new trains across the UK.