Who we are
First Sentier Investors has been managing infrastructure investments for almost 30 years. Today our direct infrastructure business is known as Igneo Infrastructure Partners.
While our name may have changed, we remain committed to partnering with our clients and management teams, to create a more sustainable future.
Over 100 global investment specialists*
A 30 year investment track record across c.70 acquisitions*
Over 120 clients entrust us to manage $17.8bn of assets*
*Source: First Sentier Investors, in USD as at 31 March 2023
ESG at the heart of our process
We believe responsible investing is the only viable approach to creating long-term value. As owners of infrastructure assets, we believe sustainable operating models are integral to delivering attractive investment returns. Proactive ESG-led management within our portfolio companies allows us to identify ESG risks and opportunities. Most importantly, our ESG commitment aligns the interests of our clients with the communities that our businesses serve.
To access the list of our current investments, please click the link below:
View our portfolio assets
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Adelaide Airport served more than 8.5 million passengers in 2019 as Australia’s fifth largest airport by passenger volume. Adelaide Airport is the domestic and international gateway to South Australia, with a recently expanded airport terminal. The airport is a vital element of the South Australian economy, and is the largest single site employment precinct in the State. Its aeronautical revenue base is supported by diversified revenue streams including retail, parking and property.
Atmos Renewables is an Australian renewables operator with interests in eight operational utility-scale wind and solar farms across four states – Victoria, Queensland, South Australia and Tasmania – with a gross capacity of 754 megawatts. Atmos benefits from long-term energy offtake contracts with investment grade counterparties. The manager’s strategy is to become a leading Australasian renewables owner and operator with a diversified portfolio of assets by technology and geography.
Brisbane Airport served 23 million passengers in 2019 as Australia’s third largest airport by passenger volume. Brisbane Airport is the key domestic and international gateway to Brisbane and Queensland, with Australia’s largest domestic network and strong links to growing international markets. Brisbane Airport opened a new runway in 2020, and operates curfew free 24 hours a day, seven days a week, Brisbane Airport is the largest capital city airport in Australia by land size occupying 2,700 hectares, with a large and diversified property portfolio.
CPE Renewable Investment Unit Trust (CPERI) develop, own and operate multi-utility behind-the-meter assets. The CPERI portfolio includes three operational multi-utility sites as well as 30 operational, or under construction, rooftop solar and battery assets for commercial and industrial clients. Once construction is completed, the portfolio will have 29.5MW of solar capacity, 33.4MWh of battery capacity and 79.8MW of thermal capacity.
Coriance operates a portfolio of 38 district heating concessions in France and Belgium. Coriance delivers heat to residential, social and commercial buildings, and co-generated electricity to EDF under long-term Power Purchase Agreements. The Company generates the majority of its revenues from long-term concession contracts, typically with a duration of 20-30 years. With 65% of its heat generated from renewable sources (e.g. biomass, geothermal) Coriance has the greenest energy profile amongst the four leading participants in the French district heating sector.
enfinium is the largest pure-play energy-from-waste portfolio in the UK, with a total waste processing capacity of 2.3 million tonnes per annum and a total power generation capacity of 265 megawatts. The portfolio includes four operational plants and two plants in construction, all strategically located in attractive waste catchment areas across the UK.
Evos is an independent liquid energy and chemical storage company operating a network of 8 tank terminals with a combined storage capacity of 6.3 million cbm. The company provides critical infrastructure in key trading hubs in Europe covering the ARA region, Germany’s largest port Hamburg and the Mediterranean. Evos offers safe handling of a range of liquid bulk products, and is a frontrunner in the storage of sustainable fuels and supporting the energy transition.
Finerge is Portugal’s second-largest renewable energy producer and for over 20 years has worked to provide access to more sustainable energy sources to the world. Finerge operates 69 Wind Farms and 17 PV solar plants located in more than 46 municipalities across Portugal and 3 provinces in Spain. Day and night, more than 770 turbines harness the energy of the wind, and thousands of photovoltaic modules that collect energy from the sun, transforming it into clean electricity at a rate of 3.200Gwh. All this means that more than 1,661 k tons of CO2 emissions are avoided.
First Gas owns and operates gas transmission and distribution networks in the North Island of New Zealand. Its networks consist of the entire gas transmission system, transporting gas from New Plymouth spanning the North Island with a total length of over 2,500 km and a gas distribution system which services more than 60,000 end customers, primarily in central and northern regions of the North Island. First Gas is also the owner and operator of the Ahuroa gas storage facility, which is contracted under long-term fixed price arrangements; and of Rockgas LPG distribution business, the largest LPG retailer in New Zealand with c. 40% market share.
IWS is a post-collections waste business in Adelaide (5th largest city in Australia), targeting mixed waste processing and disposal in the residential and commercial sectors. It currently processes 400kt pa of waste, capturing c.70% of all municipal solid waste and c.60% of all commercial and industrial mixed waste in Adelaide.
International Parking Group owns and operates hospital car parks across Australia. With locations at nine sites across Sydney, Brisbane and Perth, the company provides over 14,000 parking bays. Its largest site, the Queen Elizabeth II Medical Car Park in Perth, has over 5,000 parking spaces.
MVV Energie is a German-based integrated utility company supplying industrial, commercial and private household customers. Present across the whole energy value chain, MVV is active across generation, distribution, trading and supply in power, district heating, gas and water. In addition to its regulated networks, the Company has a strong focus on renewable energy generation, including energy-from-waste, biomass and bio-methane plants in addition to onshore wind farms. MVV holds a top decile ESG rating by Institutional Shareholder Services (ISS) and is a multiple award winner for its efforts in the German energy transition.
Navigator Terminals is the owner and operator of four independent portside bulk liquid storage terminals across the United Kingdom in London (Thames), Teesside (Seal Sands and North Tees) and Barry (Windmill) storing a mix of petroleum products, petrochemicals, chemicals, gases, and fats and oils across a combined total capacity of 1.3 million cubic metres.
Nordion Energi was formed through the integration of three acquisitions; Swedegas (2018), Weum Gas (2018) and Falbygdens Energi (2021). The activities of the company include the ownership and operation of the sole gas transmission network in Sweden, located in the south-western part of the country (Swedegas), the country’s largest gas distribution network, mainly in the Malmo metropolitan area (Weum Gas), as well as the electricity distribution network of Falkoping (Falbygdens Energi). Nordion Energi has been formed to drive the transition towards 100% green energy in Sweden, and it is a leader in the development of biogas and hydrogen related infrastructure in Sweden.
OLT owns and operates the FSRU Toscana, a floating LNG regasification terminal. The FSRU was converted from an LNG tanker and is anchored off the Italian coast of Livorno. The terminal has an annual regasification capacity of 3.75 bcm (approx. 4% of domestic demand) and is connected to the Italian gas transmission network via a subsea pipeline. The FSRU Toscana is a core infrastructure asset for the importation of LNG to the Italian energy system and as such operates under a long term concession and is regulated by ARERA, the Italian Regulatory Authority for Energy, Networks and Environment.
Parkia is the largest pure off-street car park operator in Spain, with 71 car parks in prime city locations spanning 43 cities across both Spain and the Principality of Andorra and capacity of almost 39,000 spaces. The car parks operate on a 24/7 basis under concession contracts with local municipalities and enjoy the strongest EBITDA margins in the sector.
Based in Jacksonville, Florida, Patriot Rail operates a portfolio of 13 short line freight railroads encompassing more than 610 track miles across 14 states in the United States. In addition to railroads the company’s operations include rail-related services such as railcar storage, trans-loading, railcar cleaning, and contract switching. Patriot has a high quality, diversified customer and commodity mix across its portfolio, with a focus on safe and reliable service as a core value.
Quantem is the owner and operator of bulk liquid storage facilities across twelve locations in Australia and New Zealand with total terminal capacity of approximately 600,000 cubic metres. The business provides storage for products including industrial chemicals, fats and oils petrochemicals and bulk petroleum with the ability to handle hazardous and non-hazardous, and flammable and combustible products.
Based in Carlsbad, California, Rialto Bioenergy Facility is an organic waste-to-energy plant developed by Anaergia Services, a global leader in the production of clean energy, fertiliser and recycled water from waste streams. It is the largest food waste diversion and energy recovery facility in North America and has the capacity to convert 700 tons per day of organic waste and 300 tons per day of biosolids into renewable natural gas.
*website link is to Igneo's partner.
Scandlines is the sole operator of the Rodby-Puttgarden and Gedser-Rostock ferry routes, connecting Denmark with Germany. Scandlines transports 7m passengers and 700k freight units pa. Both routes are fully integrated into the road infrastructure and a critical part of the European transportation network as extensions of the E47 and E55 motorways. As such, Scandlines is the most convenient choice for cars and freight to travel between Denmark and Berlin or Hamburg. Scandlines operates 8 ferry vessels, 6 of which hybrid. It also owns and manages one of the world’s largest floating border shop in its Puttgarden harbor.
Terra-Gen develops, constructs, owns, and operates utility-scale wind, solar and battery storage throughout the United States, with the majority of its operations located in California. Terra-Gen’s portfolio spans across 26 generating facilities and operates more than 1,500 megawatts of facilities and has more than 3,000 megawatts of projects under advanced development or construction.
Tuatahi First Fibre provides wholesale ultra-fast fibre to a range of internet service providers who deliver internet to households, schools, businesses and healthcare facilities across New Zealand’s Waikato, Bay of Plenty, Taranaki and Whanganui regions.
US Signal is a regional provider of network, data center, and related services to local Small and Medium Enterprises (‘SMEs’) and large national telecom carriers. The Company operates a 9,500 fiber mile network and eight data center facilities across the Upper Midwest. It was established in 2001, and over the past 20 years has built a strong reputation for providing best-in-class customer service. Its strong existing infrastructure together with this high level of service are US Signal’s key differentiators and has attracted clients in the healthcare, finance, and telco sectors that typically require a high degree of data security and reliability.
Utilitas is the largest district heating operator and renewable energy producer in Estonia providing heat to 8 cities in Estonia, including Tallinn the capital of Estonia. The company operates 556km of district heating network, providing over 2GWh of heat to 174,000 households across the country. Over 65% of heat and electricity produced is generated from renewable fuels and the company is committed to be carbon neutral by 2030.
Waste Management New Zealand is New Zealand’s largest resource recovery and waste management services provider with vertically integrated operations across the country. The collections business operates with over 860 trucks across 70 locations in New Zealand; collecting over 2.1 million municipal bins per month.
The post-collections segment comprises a strategic nationwide network of 49 owned and/or operated material recovery, transfer stations and technical processing facilities and owns and operates five of New Zealand’s largest Class 1 landfills; handling over 1 million tonnes of waste and recycling over 200 thousand tonnes.
Founded in 2010 and headquartered in Essen, Westconnect is a fibre broadband joint venture between Igneo and E.ON SE (E.ON). The Company is a leading integrated full fibre provider comprising fibre broadband operations in the western German federal states of North-Rhine Westphalia, Lower Saxony and Rhineland-Palatinate. The Company operates in regions in which E.ON owns and manages the electricity and gas distribution networks, benefitting from superior customer and municipality access as well as existing ducts and capex synergies.
coNEXA Infrastructure Partners (‘coNEXA’), previously Water Utilities Australia, is an integrated water utility comprising five portfolio assets – Rosehill Recycled Water Scheme (‘AquaNet’), Willunga Basin Water Company (‘WBWC’), Lightsview ReWater (‘LV’), Kooragang Industrial Water Scheme (‘KIWS’) and Permeate Partners (‘Permeate’). AquaNet is an unregulated water utility providing recycled water to industrial users, via Sydney Water, in the Greater Parramatta to the Olympic Peninsula region of Sydney. WBWC is an unregulated rural water utility providing low cost recycled water for irrigation to the McLaren Vale wine region, south of Adelaide. LV is a regulated urban water utility providing mandated recycled water to the Lightsview housing development 8km north of the Adelaide CBD. KIWS is an unregulated water utility in the Kooragang Island, Newcastle supplying high-grade industrial water to Orica. Permeate is a specialist in the design, delivery and operation of water and wastewater infrastructure. coNEXA is the water platform for GDIF to invest in water infrastructure in Australia and New Zealand.
View our latest insights
The EV revolution is well underway. Passenger EVs now account for 9% of all vehicles sold globally and in major markets such as Germany and the UK, EV penetration is 26% and 21% respectively.
The pathway to net zero is not easy, nor is it linear, particularly for companies in parts of the world where conventional fossil fuels are still widely used for energy generation.
The world’s cognitive shift on climate change has been decades in the making. Now the energy transition is in full swing, long-term investors like Igneo Infrastructure Partners have an important role to play in the societal and technological change necessitated by ambitious global targets.
Government spending earmarked to rescue and stimulate economies following the disruptions of COVID-19 related lockdowns and restrictions has been framed as a once in a lifetime opportunity to propel the world towards a greener and more sustainable future.