Northleaf’s infrastructure program invests in small/mid-sized infrastructure assets that offer relative value when compared to similarly situated assets in more competitive market segments. The program’s flexibility allows Northleaf to execute on transactions that are well-diversified by geography, revenue type and sub-sector in core regions of the OECD infrastructure market.
Northleaf’s infrastructure program benefits from an experienced team with an extensive global network and a consistent focus on:
- proactive deal sourcing across target geographies/sectors;
- valuation discipline;
- active asset management; and
- ESG considerations
The program’s investment activities are focused primarily on North American, European and Australian assets, with the flexibility to invest opportunistically in other OECD jurisdictions that offer stable regulatory, economic and political environments. Northleaf pursues predominately contracted-revenue investments with a focus on small to mid-sized assets with equity investments of $100 to $250 million. This strategic focus has enabled Northleaf to proactively source differentiated opportunities and generally avoid broad, highly competitive auctions of large, marquee assets while also seeking control or joint control positions. Northleaf’s experience has demonstrated that there is significant value to be gained from a robust asset management approach to each investment that focuses on value creation and de-risking.
For details on Northleaf's infrastructure investments, click here.
Northleaf Infrastructure Capital Partners III (NICP III) - 2019
NICP III, a US$1.4 billion closed-end fund, is actively investing. To date, its diversified portfolio consists of seven investments (nine underlying assets) across the U.S., the U.K., Belgium and Canada. NICP III held its final close in June 2021 and seeks to provide investors with access to mid-market infrastructure assets with clear potential for upside from active asset management.
Northleaf Infrastructure Capital Partners II (NICP II) - 2016
NICP II, a C$950 million closed-end fund, is fully committed to a diversified portfolio of nine investments (20 underlying assets) across the U.S., the U.K., Spain, Australia and Canada. NICP II is performing well and on track to meet its target return and yield objectives.
Northleaf Mid-Market Infrastructure Partners (NMIP) - 2012, 2015 & 2022
NMIP is a C$1.5 billion custom infrastructure mandate focused on direct investments in small to mid-sized core and core-plus assets, predominantly in Canada and the US.
- C$400 million first tranche commenced in March 2012; fully committed
- C$600 million second tranche activated in July 2015; fully committed
- C$500 million third tranche activated in March 2022; currently investing