Ancala Partners closes second fund at EUR735m

Ancala Partners LLP, a UK-based independent infrastructure investment manager, has reached the final close for its Ancala Infrastructure Fund II with EUR735 million (US$808.49 million). 

The company has secured commitments from around 30 institutional investors from Europe, Australia, Asia, and North America. The Fund targets a 12-year term and a net internal rate of return (IRR) of 10-13% per annum, including an annual cash yield of 5-6%.

The Fund is set to invest in a portfolio of mid-sized infrastructure businesses across Europe. Ancala will also invest around EUR1 billion (US$1.1 billion) through the fund.

Ancala Infrastructure Fund II has invested approximately EUR150 million (US$165 million) in the UK’s Liverpool John Lennon Airport, the Dutch fiber-to-the-office business Fore Freedom, HS Orka geothermal business in Iceland. Investors in the fund have already been offered co-investment in HS Orka and Fore Freedom.