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Dalmore Capital shores up investment team with senior hire from USS
People - DECEMBER 12, 2025

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Dalmore Capital shores up investment team with senior hire from USS

by Kali Arevalo

Dalmore Capital, U.K.-based infrastructure investor that manages approximately £6 billion ($8 billion) of assets across five flagship funds, has bolstered its senior investment team with the appointment of Stephen Deeley as a managing director. The appointment comes a month after Dalmore finalized its acquisition by Royal London.

Dalmore specializes in long-term core and core-plus infrastructure investments. It has about 130 infrastructure assets in its portfolio, broadly diversified across different sectors, primarily in the United Kingdom but also in Europe and in Canada.

Deeley will be based in Dalmore’s London office and will play a central role in expanding the firm’s diverse portfolio of essential U.K. infrastructure assets, with a strong focus on deal origination and execution. He brings 20 years of infrastructure investment and asset management experience to the role. Deeley joins from USS Investment Management, one of the biggest pension fund managers in

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