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Exits
The sale of Tramlink in the UK to Aberdeen Standard represents the final sale of the €170m 2008-vintage fund, which secured a 15% gross return.
The airport is jointly held by its MEIF1 and MEIF3 funds alongside the Belgian government and OTPP, with the latter believed not to be among the bidders.
The sale of Indigo Pipelines is the first exit from Scottish Equity Partners’ Environmental Capital Fund, which raised $176m in 2014, targeting a 14% IRR.
Lincoln Clean Energy is the first of the 15 portfolio companies to be fully exited by the vehicle, which is currently generating a 18.2% net IRR.
China Southern Power Grid International will be the second-largest shareholder in Encevo after acquiring the French fund manager’s 25.5% stake.
Tampnet, bought by 3i Infrastructure and ATP, was also partly owned by EQT’s second fund, which has now sold four of its 11 assets.
Senior director Ram Kumar’s mid-July departure follows the exits of director Guido Mitrani in March and global co-head Jesus Olmos in April.
The sales process for the firm’s solar portfolio in Canada is thought to be under way.
The acquisition from Macquarie comes roughly 10 years after MEIF2 paid €1.4bn to gain control of the German metering company.