EISER Global Infrastructure Fund

Background

The EISER Global Infrastructure Fund (“EGIF”) was formed with over EUR 1.1 billion of capital commitments and was one of the first dedicated European infrastructure funds when launched in 2006. 

EGIF invested across a well-balanced portfolio of cash-yielding assets, the majority sourced independently through direct vendor relationships.

Portfolio exit

During 2012 EISER successfully divested two UK PFI assets. The two PFI projects, comprised the greenfield development of sixteen primary and secondary schools in Scotland, along with supplementary community facilities. In four years EISER successfully managed the construction process, delivering the project profitably and on time, thereby successfully fulfilling all investment objectives.

In 2016, EISER exited its gas pipeline business in Italy, Societa Gasdotti Italia. S.p.A. at approximately a 2x cash multiple for its investors. The asset was sold to Macquarie Infrastructure and Swiss Life Asset Managers.

In 2017, EISER reached financial close on a portfolio sale of five assets – two assets in the UK, ESP Utilities and Belfast City Airport; two concession assets in Spain, which were co-owned with Sacyr; and one waste treatment asset in Italy, HERAmbiente – to a fund managed by 3i Group plc. (“3i”). As part of this original sales agreement with 3i, EISER’s existing investors in EGIF were offered the unique opportunity to choose liquidity or to remain invested in the assets through a right to reinvest into the new fund managed by 3i.

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