Ancala completes UK fundraising at upper end of target

Ancala completes UK fundraising at upper end of target with an innovative structure developed with Willis Towers Watson

Ancala Partners has successfully completed fundraising for its UK infrastructure platform, which it developed by working closely with Willis Towers Watson, the global investment business. A total of GBP 400 million has been raised within a ten-month period, closing at the upper end of Ancala’s targeted range of GBP 300 to 400 million. This brings Ancala’s total investor commitments to over GBP 800 million across its investment vehicles.

“We are delighted to have confirmation from investors that our proactive mid-market approach and active asset management is recognised as a compelling investment strategy providing attractive risk adjusted returns,” said Spence Clunie, Managing Partner of Ancala. “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 has recently made a number of investments, including the acquisition of Green Highland Renewables, a leading independent hydro asset owner and operator, International Energy Group, the gas distribution network operator on the Isles of Man, Guernsey and Jersey, a c.100 MW solar PV portfolio and Ancala has recently agreed to acquire interests in SAGE and Beryl pipelines in the UK North sea.

Willis Towers Watson’s Head of Real Assets, Karen Dolenec commented: “Core infrastructure investments are understandably receiving more interest from institutional investors. We believe that historic challenges in accessing these investments can be addressed through new and innovative offerings. In particular, 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.” Ancala is preparing a similar mid-market investment platform with a broader European focus that it plans to start marketing in 2017.