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Year Founded: 2010

AUM: $2.10B | Dry Powder: $471.85M

Kings House, 36-37 King Street London EC2V 8BB England, United Kingdom

Ancala Partners is an independent infrastructure firm based in London, United Kingdom. The firm prefers to invest in infrastructure assets in the renewables, transport, utilities, midstream and storage, and telecom sectors based in Europe

Key Contacts

  • Spence Clunie
    Founder and Managing Partner
  • Mei Niu
    Chief Operating Officer
  • Karen Dolenec
    Partner

Investment Preferences

  • Preferred Industries
    Energy Equipment, Energy Services, Other Business Products and Services, Other Energy
  • Geographical Preference
    Europe
  • Preferred Deal Types
    N/A
  • Other Investment Preferences
    Seeks Impact investments

Investments By Year

Source: Pitchbook

Funds Closed

Ancala Infrastructure Fund II
Vintage: 2020

Size: $814.9M

Dry Powder: $375.6M

Details: The fund focuses on portfolio of mid-sized infrastructure businesses across Europe

Ancala Renewables II
Vintage: 2016

Size: $17.3M

Dry Powder: $0.8M

Details: The fund’s infrastructure asset preference is renewable energy

Ancala Renewables
Vintage: 2015

Size: $12.4M

Dry Powder: $1.0M

Details: The fund invests in greenfield assets in the relatively untapped mid-market sector in the UK

Investments By Industry

Investments By Region

Source: Pitchbook

Key Investments

In October 2021, Ancala Partners along with Fiera Consortium, a mid-market direct infrastructure investor and an affiliate of Fiera Capital Corporation acquired Augean Plc. The company works in waste management sector with focus on mitigating the environmental and social impacts of waste. The acquisition was made at £341.2 million, and the deal would be funded by a combination of both equity and debt

In April 2021, Ancala Partners made equity investment into Portsmouth Water, a regulated water business of UK. The investment was made into Havant Thicket Reservoir project to provide vital water resources to the Southeast of England. It is a £120 million project that would play a key role in reducing abstraction from the South East’s internationally renowned chalk streams, the River Itchen and River Test

In December 2020, Ancala Partners acquired 49% stake in Ence Energía for €223 million. Ence Energía generates renewable energy from agricultural and forestry biomass and has eight plants with an installed capacity of 266MW. The company is developing a 405MW pipeline of renewable energy projects in Spain

In March 2020, Ancala Partners LLP acquired the 82MW Orites wind farm in Cyprus for an undisclosed amount. The Orites wind park consists of 41 Vestas V90-2MW turbines and produces around 5% of Cyprus’ entire electricity generation capacity. The acquisition was made by funds managed by Ancala

In November 2019, Ancala Partners’ biogas platform Biogen acquired a 1.1MW operational anaerobic digestion (AD) plant in southwest England from landfill and AD operator Enovert

In July 2019, Ancala Partners acquired 50% of Dragon LNG terminal, an LNG regasification terminal in Wales, from Petronas LNG. Dragon LNG is one of three LNG regasification terminals in the UK. The remaining 50% ownership is held by Royal Dutch Shell. Financial terms of the deal were not disclosed

In June 2019, Leep Utilities, formed by Peel Group and Ancala Partners acquired SSE Water, a water network business from energy firm SSE. The financial terms were not disclosed. SSE Water owns water networks that supply around 20,000 customers across 28 sites in southern England and Wales

In May 2019, Ancala Partners acquired 50% interest in HS Orka from Jarðvarmi, a consortium of 14 Icelandic pension funds. Ancala invested through Ancala Infrastructure Fund II. Following the transactions, Ancala and Jarðvarmi will each own 50% of HS Orka. HS Orka operates two geothermal powerplants, Svartsengi and Reykjanes, with a combined installed capacity of 174MW. The company is also constructing a 10MW hydro powerplant at Bláskógabyggð

Other Details

Ancala Partners is an infrastructure investment manager providing enhanced returns for core mid-market infrastructure investments. The investment team is exclusively focused on Europe. The firm operates a diversified portfolio of core, mid-market infrastructure investments. Ancala has over 65 investors from across 4 continents. Its 39-member team includes a diverse mix of operational, management and investment industry experts. The investment team has a combined experience of 200 years in managing mid-market investment opportunities

The firm’s latest close fund is Ancala Infrastructure Fund II. The fund is focused on investing in a portfolio of mid-sized infrastructure businesses across Europe. The fund held its final close at €735 million on February 5, 2020. The fund size is $814.91 million. One of the major investments of the fund is Icelandic geothermal business HS Orka

Biogen (UK), Jarôvarmi, Spence Clunie, Holmleigh Care Homes, Fiera Infrastructure, Fajr Capital are the institutional investors in Ancala Partners

Source: Company Website, NS ENERGY, IPEReal Assets, EEOnline, IPE, Power Technology, Sparkspread