Fundraising - FEBRUARY 9, 2017

SL Capital Partners holds £516m final close for infrastructure fund

by Andrea Waitrovich

SL Capital Partners, a Standard Life Investments company, has held the final close of its first infrastructure fund, SL Capital Infrastructure Fund I with £516 million ($646 million) of commitments, ahead of its initial £400 million ($500 million) equity fundraising target.

"Our strategy and approach has attracted clients who are looking for a differentiated angle to core infrastructure investing,” said Dominic Helmsley, head of infrastructure equity at SL Capital Partners, in a statement.

The fund targets direct investment in mid-market core infrastructure transactions in the United Kingdom and northwest Europe.

The fund has committed 37 percent of its capital to four investments as the majority shareholder: Auris Kaasunjakelu, a gas distribution business with approximately 355 miles of pipelines in Helsinki and 11 other cities in Finland; Nordic Power AS, a portfolio of 13 small scale hydroelectric plants in Norway; and two U.K. rail investments in partnership with Rock Rail — a new fleet of Siemens trains on the Great Northern franchise out of Moorgate station in London and new Stadler intercity trains for the Liverpool Street–based East Anglia franchise.

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