The Columbia Threadneedle European Sustainable Infrastructure Fund (ESIF) announces that it has completed the acquisition of 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 was made in consortium with Brittany Ferries, a leading French ferry operator, which 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.
Heiko Schupp, Global Head of Infrastructure Investments at Columbia Threadneedle Investments, says: “We are delighted that the transfer of ownership of Condor Ferries to ESIF and our consortium partner Brittany Ferries is complete. Condor Ferries marks the first investment of ESIF and I am encouraged by the client interest we have received in the strategy to date. The fund’s evergreen structure suits long-term, income-producing infrastructure assets such as Condor Ferries, with its attractive market fundamentals and stable financial position. The management team has extensive industry experience and strong relationships within the Channel Islands, and we look forward to working with them and the local stakeholders on maintaining and developing the company’s crucial ferry services between the Channel Islands, the UK and France.”
Columbia Threadneedle’s infrastructure team has more than 70 years’ combined industry experience and has worked together in previous roles before joining Columbia Threadneedle Investments last year. The team draws on Columbia Threadneedle’s macro-economic and company research across multiple asset classes and geographies as well as working closely with Responsible Investment colleagues in targeting investments with clear sustainability business practices, and that manage risks around environmental and social impact.
