CIC Capital, Macquarie Infrastructure and Real Assets (MIRA) and Allianz Capital Partners are among the investors in a 拢3.6bn (鈧�4.2bn) UK energy consortium.
The Quad Gas Group, which also includes Hermes Investment Management, the Qatar Investment Authority, Amber Infrastructure鈥檚 International Public Partnerships (INPP) and Dalmore Capital, is jointly taking a 61% stake in four National Grid gas-distribution networks in the UK.
The deal, expected to close early next year, sees MIRA and CIC become the largest stakeholders in the group, taking 14.5% and 10.5% stakes, respectively, with Allianz Capital Partners taking 10.2%.
MIRA is estimated to be investing 拢850m-900m, based on INPP鈥檚 4.4% stake stated as being worth 拢275m.
Martin Stanley, global head of MIRA, said: 鈥淭his is a well-established business, and we are confident we as investors can continue to provide both high-quality infrastructure for the UK and appropriate risk-adjusted returns for investors.鈥�
Dalmore Capital, which also takes a 4.4% stake, and INPP, previously joined Allianz in a 拢4.2bn successful bid for the UK鈥檚 Thames Tideway Tunnel project .
Christian Fingerle, CFO at Allianz Capital Partners, and Peter Hofbauer, head of infrastructure at Hermes Investment Management, which takes a 8.5% stake, both said the assets fit their respective core investment strategies.
International Public Partnership chairman Rupert Dorey said its participation in the group offered additional opportunities for 鈥渉ighly attractive risk-adjusted returns with strong inflation protection鈥�.
National Grid will hold a 39% stake, of which a further 14% could be sold to the consortium.
