Our approach
Our breadth of lending, strong origination capabilities and deep market relationships allows us to offer a range of senior debt investments. These are investment-grade and sub-investment-grade infrastructure projects across the UK, EEA and Canada in fixed-rate, floating-rate and inflation-linked formats.
Environmental, social and governance (ESG) considerations – though non-binding – are integrated into our investment decisions and project monitoring. A rigorous investment process allows us to leverage our team’s extensive experience, prioritising senior debt in carefully-structured transactions. Since we began investing in infrastructure debt in 1998, we have never had a payment default (as of 30 September 2019).
Benefits
Infrastructure debt investments have a low correlation to market cycles, matching long-dated assets and providing predictable income streams.
Key risks
Need more information?
For further information, please contact our investment sales team.
Explore our real assets range

Real assets views

Real Assets
Concentrate! How to benefit from specialisation and diversification in real estate
14 Apr 2021
Too much emphasis on geographic and sector diversification within real estate portfolios can hinder alpha generation. More focus on lease length, asset quality and other factors is a preferred means of reducing specific risks whilst allowing specialisation, argues Tim Perry.
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Real Assets
Five charts that show Copenhagen is a city of the future
7 Apr 2021
We take a visual approach to highlight why Copenhagen is such a rich, vibrant and economically prosperous city.
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Equities
What does the data say? Vaccines, illiquidity and managers called Dave
26 Mar 2021
In the first of a new monthly series, we take a visual approach to illustrate topical data themes in economies, markets and beyond. This month we look at the correlation between stock market performance and vaccinations, the illiquidity premium in real assets, and whether there are still more men called Dave running funds than female managers.
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Real Assets
Podcast: A clear green premium
18 Mar 2021
Our Head of ESG, Ed Dixon, recently joined Blackstock Consulting on a PropCast episode to launch their new series of ESG insights with industry leaders. Together, they discussed how the government needs to be partnering with businesses to reach their climate pledges, how the “green premium” is yielding higher rents for eco-friendly offices, and much more.
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Equities
Cut it out! The complex quest to decarbonise heating
16 Mar 2021
More countries are contemplating their visions for a lower carbon world. Norway has excluded fossil fuels entirely for heating buildings, while others are taking a more nuanced approach. So, what are the options for those with environment at the heart of their agenda?
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Real Assets
Can a shift in UK policy help make the ESG case for nuclear?
8 Mar 2021
The UK government says nuclear energy may have a vital role to play in cutting carbon emissions. However, more detail is needed to help investors assess nuclear technology’s ESG credentials, argue Darryl Murphy and Stanley Kwong.
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Real Assets
Can the UK Infrastructure Bank unleash the power of private capital?
5 Mar 2021
Now that the details have emerged on the remit and tools available to the UK Infrastructure Bank, meaningful engagement with industry should be the priority, argues Darryl Murphy.
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Real Assets
From crisis comes opportunity: What’s normal now?
2 Mar 2021
Big challenges bring us the opportunity to think differently. Our investment teams reveal what they have learnt from COVID-19, and how they are preparing to face whatever ‘normal’ emerges in a post-pandemic world.
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Real Assets
How Manchester transformed into a city of the future
26 Feb 2021
Once an industrial powerhouse, Manchester reversed its decline to become one of Europe's top creative capitals. Watch our video to find out why we call it a city of the future.
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Real Assets
RPI reform: The implications for real assets
22 Feb 2021
With the methodology for calculating the UK Retail Prices Index set to change in 2030, we explore the implications for real assets.
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Real Assets
Virtual reality: How COVID-19 is reshaping the world of work
27 Jan 2021
While the coronavirus pandemic has devastated livelihoods, it also presents an opportunity for companies and policymakers to reinvent the world of work. The future is full of possibilities – but no easy answers.
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Real Assets
Investing for impact in private debt to combat climate change
21 Jan 2021
Impact investment strategies will have an important role to play if the green credentials of the world’s stock of real estate is to be transformed, argue Gregor Bamert and Stanley Kwong.
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Real Assets
Building back better: The path to net zero
18 Jan 2021
While much of the world’s focus continues to be on tackling the COVID-19 pandemic, the climate crisis also requires urgent attention. The number of countries and companies supporting the move to a lower-carbon world is growing, but practical challenges remain. How can we build back better after COVID, and navigate to a cleaner, safer and sustainable world?
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Equities
Our annual letter to company chairpersons
15 Jan 2021
As part of our engagement efforts, every January we send a letter to the chairs of companies we invest in (and some we don’t, but still want to use our influence with) to set out our stewardship priorities for the year. Here, in full, is our 2021 letter.
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Real Assets
Hydrogen: Back to the future
18 Dec 2020
The UK is the latest country to accelerate plans to develop hydrogen as part of its push to reach net zero. But it is not the first time hydrogen has attracted attention – it has been trumpeted by the scientific community as a possible wonder fuel for around a century. So, what’s changed now?
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Real Assets
COVID recovery, net zero and policy: The outlook for UK infrastructure in 2021
16 Dec 2020
Darryl Murphy assesses the current state of the UK infrastructure market and the likely drivers of activity in 2021.
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