Transactions - DECEMBER 22, 2016

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3i acquires infrastructure assets from EISER fund

by Jody Barhanovich

3i Group has acquired a portfolio of European infrastructure assets from the EISER Global Infrastructure Fund.

The portfolio consists of the Belfast City Airport in Northern Ireland; the East Surrey Pipelines, a gas distribution business in Great Britain; a stake in Herambiente, an Italian waste treatment and disposal company; and stakes in four concession companies in Spain — two operating shadow toll roads and two operating Madrid bus terminal interchanges.

A new vehicle managed by 3i will have commitments of £700 million ($860.2 million) available to fund the initial acquisition and to provide capital for a number of significant follow-on investments across the portfolio. 3i will invest £36 million ($44.2 million) in the new vehicle alongside pension fund investors APG Asset Management and ATP Pension & Investments.

The agreement entered into by 3i provides for existing investors in the EISER Global Infrastructure Fund to be o

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