Infrastructure Debt

The climate change and the necessity in a more sustainable use of our resources generate new investment requirements. We pursue to increase the operational and financial assets performance and also operational titles, from non-listed company, that own, control, operate, manage or support infrastructure assets and/or are related, participating in specialized funds and investment vehicles that adopt a conservative approach to leverage and ensure that our investments have appropriate risk profiles, with a policy focused on urban development projects and energy efficiency, preferably in the OECD and in a selective way in other regions.

We put special interest on established assets or medium-size brownfields, whose profitability is not subject to the actual use of the scheduled activity nor the revenues derived from the services provision. Our goal is to achieve returns through funding and operational improvement of infrastructure assets, which are important to the functioning of regional and local economies, capturing illiquidity premiums and generating a resilient value throughout the cycle with capacity to offer downward protection in adverse macroeconomic scenarios.

Under our ESG integration approach, all the infrastructure assets considered for debt or equity financing, are subject to a due diligence process based on a wide range of considerations, including impacts on issues such as biodiversity, climate strategy, rights and occupational safety, regulatory certainty, relationships with stakeholders or the exercise of political pressure, focused on sustainability and designed to deliver sustainable results without losing sight of financial performance.

Basic characteristics of assets:

• Urban development projects and energy efficiency.
• Predictable and stable long-term incomes.
• High operating margins.
• Limited operational risk.
• High entry barriers and low competition.
• Low technological risk.
• High potential for leverage.