Columbia Threadneedle Investments has partnered with French ferry operator Brittany Ferries to buy a Channel Islands ferry company from a Macquarie Infrastructure and Real Assets fund.

The asset manager said its new open-ended European Sustainable Infrastructure Fund (ESIF) has teamed up with Brittany Ferries, who has a minority stake, to buy Condor Ferries from Macquarie European Infrastructure Fund II for an undisclosed sum.

Condor Ferries operates lifeline freight and passenger ferry services between Guernsey, Jersey, the UK, and the Port of St. Malo in France.

Nick Ring, EMEA CEO at Columbia Threadneedle Investments, said: “The acquisition of Condor Ferries together with Brittany Ferries is exciting news for Columbia Threadneedle as it marks the first investment by our new infrastructure fund.”

Heiko Schupp, global head of infrastructure investments, said ESIF’s evergreen structure suits long-term, income-producing infrastructure assets such as Condor Ferries.

The company is an attractive first investment due to its market fundamentals, stable financial position and management team with extensive industry experience, knowledge and strong relationships within the Channel Islands.”