The Columbia Threadneedle European Sustainable Infrastructure Fund (ESIF) is to acquire Condor Ferries, an operator of lifeline freight and passenger ferry services between Guernsey, Jersey, the United Kingdom, and the Port of St Malo in France.
The acquisition is made in consortium with Brittany Ferries, a French ferry operator, who has a minority stake. Condor Ferries has been acquired from Macquarie European Infrastructure Fund II, managed by Macquarie Infrastructure and Real Assets.
ESIF is a new open-ended fund that invests in European mid-market equity assets, managed by leading global asset management group Columbia Threadneedle Investments. ESIF is managed by a team of four senior infrastructure specialists led by Heiko Schupp, Global Head of Infrastructure Investments, and including Head of Origination & Investments, Antonio Botija, Head of Asset Management, Ash Kelso, and Senior Portfolio Manager, Ingrid Edmund. The team has more than 70 years’ combined industry experience and has worked together in previous roles before joining Columbia Threadneedle Investments last year.
Nick Ring, EMEA CEO at Columbia Threadneedle Investments, says: “The acquisition of Condor Ferries together with Brittany Ferries is exciting news for Columbia Threadneedle as it marks the first investment by our new infrastructure fund. In June last year we announced plans to build an infrastructure investment capability for institutional clients and Heiko Schupp was hired to the newly created role of Global Head of Infrastructure Investments. Heiko and his team draw on Columbia Threadneedle’s macro-economic and company research across multiple asset classes and geographies as well as working closely with our Responsible Investment team in targeting investments with clear sustainability business practices, and that manage risks around environmental and social impact. Assessing potential investment opportunities for sustainability and financial performance and risks is something clients are particularly drawn to as part of their long-term investment objectives. I am encouraged by the interest we have received for our infrastructure strategy to date.”
Heiko Schupp, Global Head of Infrastructure Investments, says: “We are delighted to have agreed the first investment for ESIF. Its evergreen structure suits long-term, income-producing infrastructure assets such as Condor Ferries. The company is an attractive first investment due to its market fundamentals, stable financial position and management team with extensive industry experience, knowledge and strong relationships within the Channel Islands. The consortium combines the expertise of a leading global asset manager with the strong operational expertise of Brittany Ferries. We look forward to working with management, employees and the Channel Islands towards the long-term security and development of Condor’s ferry services.”
