Managing Partner Spence Clunie founded Ancala in 2010 with sheer determination
and ambition. This continues to define our entrepreneurial and collaborative approach.

Spence built Ancala from the ground up, initially leading all functions of the growing infrastructure manager: raising capital, finding and completing transactions, recruitment and business development.

During our early years, the track record and network were developed on a deal-by-deal basis.

A clear vision to deliver infrastructure investment differently

Spence put in place a bold strategy that delivers infrastructure investment differently. This approach focuses on sourcing bilateral investment opportunities, providing downside protection, inflation-linkage and industry-leading cash yield, and delivering proactive asset management to create value.

Since 2010, we have gone from strength to strength, transitioning to operating managed accounts, to raising a series of discretionary commingled funds with a diverse, blue-chip and global investor base.

A consistent strategy for success

Today, Ancala is led by the Partners who continue to focus on the founding strategy. We have over €4bn assets under management and a diverse portfolio of 18 companies. These operate across Renewables and Energy Transition, Circular Economy, Utilities, Energy and Social. We are partner-owned and have
a growing team of experts with investment, operational, technical and sector experience.

We have built Ancala by delivering on what we say we will, providing enhanced returns from critical infrastructure assets. I’m excited to see where the future takes us as we continue to deliver infrastructure investment differently.”

Spence Clunie
Managing Partner