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Foresight Group Holdings buys 100% stake in infrastructure investment firm
Infrastructure investment firm ICH has been sold to alternative assets and SME investment manager Foresight Group Holdings.
Lauren Croft
Firm: Piper Alderman (Log Creek)
Value: $140 million
Area: Merger and acquisition
Key players: The Piper Alderman deal team was led by Hugh Scales and James Hill, who advised Log Creek across all stages of the transaction lifecycle, including in relation to preliminary negotiations, drafting and negotiating the transaction documentation and advising on all related matters in respect of the transaction.
Deal significance: Since its inception, Infrastructure Capital Group and its subsidiaries (collectively ICH) have deployed capital across 13 realised and 21 unrealised investments. Infrastructure Capital Group offers investors access to portfolios that are diversified by sector, counterparty and risk profile, managing three flagship funds, all of which have a proven performance track record.
Mike Fitzpatrick, majority shareholder of ICH, said that the transaction offered “obvious benefits” to their investors.
“As part of the combined group, Infrastructure Capital will offer a wider range of products developed from a deeper talent pool, responding to the consolidation in the institutional market. Both firms have a long and deep commitment to renewables, which will continue to be a focus,” he said.
“Interestingly, management of each firm sees the world in much the same way, and integration will not be a challenge. Infrastructure Capital is in a strong position, with over A$3 billion of FUM, and one of the best positioned renewables funds in the Australian market in ARIF, which has wind, solar and hydro assets, and is trialling hydrogen power storage to add value to those assets. I am looking forward to becoming a shareholder in Foresight as part of this transaction.”
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
