Investors

The Nordic investor envisages the majority of its North American investments taking place in Canada due to current ‘political winds’.

After making maiden investments in offshore wind and US renewables in 2016, the manager of two listed funds is eyeing further diversification.

The fund manager is investing through its second social infrastructure vehicle, which reached a final close on $84m last November.

Launched in late 2014, the core vehicle is backed by 20 institutional investors from Australasia, the US and Europe.

The future shape of the two companies’ infrastructure franchises has yet to be decided after their boards agreed to create the UK’s largest asset manager.

The milestone, secured after 70% of existing investors committed to the new vehicle, comes days after the emerging markets firm established a 1.5GW Chile-based platform.

The downsides of how the US operates its airports compared to its Northern neighbour were up for debate at an infrastructure conference in Montreal.

Europe’s third-busiest airport is planning to build a new pier and terminal which would allow the hub to welcome up to 15m more passengers.

Northland Power’s acquisition of the €1.2bn Deutsche Bucht project gives the company its first full ownership of an offshore wind farm following majority investments in the Gemini and Nordsee One sites.

Korean public pension POBA has committed €40m to the vehicle, which looks to invest in developed markets.

The pair’s first round of capital raising targets ultra-high-net-worth individuals and strategic investors, with expected returns in the high-single digits.

A ‘traumatic’ gap is made larger because non-bankable projects without clearly defined revenue streams are inflating infrastructure programmes, financiers say.

The company’s partnership with VLC Energy will help it develop the 50MW of storage it won in a UK auction as well as target further investments.