US-based private infrastructure fund manager Alinda Capital Partners is hoping to raise £350m (€414m) by listing a new company, Alinda Capital Infrastructure Investments, on the the London Stock Exchange.
The closed-ended company will adopt the same strategy pursued by Alinda since 2014, focusing on core-plus, mid-cap assets with an emphasis on transport and logistics, utility-related and digital infrastructure.
It will be a significant investor in Alinda Infrastructure Parallel Fund IV Sterling, a parallel limited partnership that is part of Alinda Infrastructure Fund IV, the current flagship private fund managed by Alinda.
The company, which will have Alinda Advisors as its investment manager, also intends to make direct investment, either on its own or with other third-party investors.
Alinda said it had identified about $660m (€569m) worth of investment opportunities for which it is undertaking due diligence or is in discussions over.
Alinda is seeking to raise £350m initially by admitting the company’s shares to trading on the Specialist Fund Segment of the Main Market of the stock exchange at an issue of £1 per ordinary share. It plans to issue a further 650m shares in the subsequent 12 months.
The company expects to deploy capital over 24 months, with more than £200m committed in the first three months after the initial admission, assuming the target size of the issue is reached. This could rise to $600m within 24 months.
Andrew Bishop, managing partner of Alinda, said: “We believe that the current opportunity in this sector, which forms the backbone of our 15-year and $12.5bn history, is extremely compelling, with a strong risk-adjusted total-return profile, and, with the company’s portfolio expected to have particular emphasis on the highly attractive transport and logistics, utility-related and digital infrastructure sub-sectors.
“The company has an advanced pipeline of investments, with the potential to deploy capital rapidly into investments of exceptional quality.”