Vontobel Wraps Up Infrastructure Business Purchase

There have been a number of cases of firms buying into the infrastructure investment space – highlighting the popularity of this asset class.

Vontobel, the
Switzerland-based wealth and investment manager, has completed
its purchase of a “significant minority stake” in Ancala
Partners, an infrastructure investment business based in
London.

The acquisition, originally
announced in February, came at a time when a number of
firms, most notably BlackRock, bought
infrastructure firms in order to tap into the growth
potential of this asset class. (See stories
here, here
and here.)

The infracture business will “enable clients to benefit from the
potential for diversification supported by low correlation to GDP
and other major asset classes, as well as attractive
risk-adjusted returns,” Vontobel said. 

Ancala, founded in 2010, has more than €4.1 billion ($4.53
billion) in AuM and manages 18 assets operating in essential
infrastructure sectors including renewables and energy
transition, transport and utilities. The firm will be run
independently on a day-to-day basis by its management team, led
by managing partner Spence Clunie, and will retain independence
over its investment and governance processes, Vontobel said.

Vontobel financed the transaction out of its own funds, which it
said “comfortably” exceeded its target Common Equity Tier
1-ratio of 12 per cent.