NOW Closed – Now closed to investment.
Spire Capital Pty Ltd (“Spire”) continues to have high conviction in select pockets of the global private markets (i.e. ‘sweet spots’). More specifically, this means investment opportunities attached to essential services, underserved end-markets and long-term secular demand trends (e.g. data consumption).
As the world progresses through COVID-19 crisis, the resiliency of “Core” infrastructure assets is being tested as air travel, vehicle movements, energy demand and port throughput are all materially impacted. With this, Spire intentionally went in search of an investment manager able to invest ahead of transformative forces with deep expertise and resources to add value at the asset level. After an extensive global search, Spire resolved to invest in EQT Infrastructure V (‘Fund V’) as a means of capturing a compelling thematic across digital and essential infrastructure and pairing this with active value creation at the asset level. Besides an outstanding performance track-record, Spire was attracted to EQT’s network of proven industrialists & advisors working in tandem with EQT’s investment teams for financial expertise, digital capability and playbook for value creation. Spire and EQT determined a shared passion for combining 3 key elements:
EQT Infrastructure V (“Fund V”) is a continuation of EQT’s historically successful strategy of investing in strong-performing infrastructure companies with potential for significant value creation in sectors with suitable infrastructure characteristics and favourable market trends.
As at 28 Feb 2021, Fund V had made 4 investments with a Commitment Level of c.25%. Fund V is targeting primarily equity or equity-related investments in a diversified portfolio of infrastructure related assets with control or co-control positions or otherwise be capable of exercising a significant influence. The strategy is targeting core geographies of Europe and North America and will explore opportunities in Asia Pacific (‘APAC’).
Throughout its 13-year history, EQT Infrastructure’s investment approach has been based on its industrial heritage and Nordic values, applied with an entrepreneurial and transformational mindset. EQT continuously sharpens its focused investment strategy and its thesis-driven approach to sourcing across EQT Infrastructure’s focus sectors: telecom, energy, transport & logistics, environmental and social infrastructure and supporting the future-proofing of portfolio companies. Digitalization and sustainability are integral aspects of EQT’s approach from deal sourcing, due diligence, transformation to exit. The EQT Infrastructure Advisory Team consists of 771 Investment Advisory Professionals located across eleven offices (Stockholm, Helsinki, Munich, Zurich, Madrid, Milan, Paris, London, New York, Singapore and Sydney) led by 17 EQT Infrastructure Advisory Partners with an average 19 years of relevant experience. 12 out of the 17 EQT Infrastructure Advisory Partners have been with the team since EQT Infrastructure I, a testament to the stable and proven team.
Fund V leverages the global EQT Network of 500+ EQT Advisors with strong industry knowledge and senior leadership experience. The EQT Network is an integral part of EQT’s industrial value creation approach and the EQT Advisors work closely with EQT Infrastructure throughout the entire investment process. EQT Infrastructure has a strong track record2, demonstrated by the attractive risk-adjusted returns generated across all its Funds since inception in 2008. Fund V continues to apply the EQT Infrastructure investment strategy and approach. The portfolio companies of EQT Infrastructure Funds have generated a Net IRR of 16% and the realized portfolio companies have generated Gross MOIC of 2.4×4. Returns have mainly been driven by revenue growth, margin improvements and strategic repositioning, as opposed to financial engineering.