Financial investments involve an element of risk. For further information, please see the risk warning section.

We define infrastructure as the physical structures, systems and networks that provide or support essential public services and which are subject to limited competition.

This includes opportunities such as roads, schools, hospitals, ports, regulated utilities, rolling stock, energy generation and waste storage among others. We have been providing finance for infrastructure since 1998 making balance sheet investments for Aviva plc. The range and scope of our infrastructure debt investing has expanded considerably since then and we now manage over £5bn1 of assets across a wide range of sectors in 10 countries. Our infrastructure debt investments are characterised by predictable cash flows that are supported by low operating risks, government regulation and long-term contracts.

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We have been providing infrastructure finance since 1998, funding projects across ten European countries. In 2017, we were one of the largest providers of UK infrastructure financing.

Darryl Murphy

Head of Infrastructure Debt

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Notable landmarks

  • In 2013, we were one of the first managers to offer investors access to infrastructure debt through a commingled vehicle, the Aviva Investors European Secondary Infrastructure Credit Securitised Vehicle.
  • In 2017, we played a lead role in structuring the financing of the Walney Extension offshore wind farm, in which we invested £165m.  Once operational, the project will be the world’s biggest wind farm.

1 Source: Aviva Investors as at 30 September 2017

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Sample transaction: UK rolling stock

  • Debt to procure, finance and lease a fleet of 58 trains
  • Trains leased to Abellio, the regulated rail franchise operator for East Anglia
  • We have been involved in four prior rolling stock transactions, developing in-depth sector knowledge
  • Increasing passenger demand, essential nature of routes, lack of national rolling stock capacity and franchisee obligations provide credit comfort 
Location United Kingdom
Assets Rolling stock
Investment size  >£275 million
Title Senior secured loan
Rating BBB
(Aviva Investors internal rating)
Tenor 25 years