abrdn provides £38m debt facility to Dalmore Capital

abrdn has provided a £38m debt facility to Dalmore Capital’s 2012 vintage fund, (Dalmore Capital Fund LP - DCF). Dalmore Capital is one of the UK’s leading Public Private Partnership (PPP) investors.The financing is expected to provide abrdn’s clients with reliable, fixed rate payments under a long-term fully amortising structure. abrdn’s investment participants included Phoenix Group, a longstanding funding partner to abrdn, and abrdn’s Multi Sector Private Credit Fund.

DCF’s portfolio of 46 fully operational UK PPP assets is diversified across the healthcare, education, custodial, defence accommodation and leisure sectors.

Dalmore Capital will report on ESG measures including GHG emissions, Social & Employee matters and Health & Safety. The ESG reporting framework being followed was first developed by a group of leading UK infrastructure debt investors, including abrdn. Originally set up to monitor single assets, Dalmore Capital and abrdn have adapted the reporting template to cover a wider portfolio – and it’s believed this will be the first time that the framework has been applied to a portfolio of this nature.

Michael Ryan, CEO, Dalmore Capital, said: “We are pleased to have worked with abrdn to complete the financing of the PPP portfolio.  We are proud to support abrdn’s pioneering work in creating and promoting industry-standard ESG reporting and data collection.”

Alex Campbell, Investment Director, abrdn added: “We are pleased to have made this investment in a portfolio managed by one of the UK’s leading PPP investors.  The inclusion of a detailed ESG reporting regime is forward-looking for both Dalmore Capital and for our clients, providing them with greater transparency and disclosure in relation to this important area. Dalmore Capital’s enthusiasm to participate in this reporting over the life of the loan is testament to both their and our commitments to ESG best practice and sustainable investment.”

 

Ends

 

Media enquiries

Debbie Cowe,

Media Relations Manager, abrdn

Debbie.cowe@abrdn.com

+44 (0) 7711 774017

 

Notes to editors

At abrdn, we enable our clients to plan, save and invest for their futures.

We structure our business into three areas – and together they reflect our focus on enabling our clients to be better investors:

• Investments: We work with clients to create solutions across asset classes, regions and markets globally – combining multi-layered research and market insights with technology and diverse thinking.
• Adviser: We offer market-leading platform technology and tools that enable UK wealth managers and financial advisers to create more opportunity for their business and their clients.
• Personal: We help people throughout the UK plan for their financial futures – through our financial planning business and our digital investing services.

Across our investments, adviser and personal businesses we manage and administer £542 billion of assets for our clients, and abrdn plc has over 1 million shareholders. (Figures as at 31 December 2021)

Our investments are built on an insight strength that comes from multi-layered research and a large global footprint. Our teams collaborate across multiple capabilities, to create forward-thinking solutions that aim to meet our clients’ needs and deliver more sustainable outcomes. Our investments business manages £464 billion on behalf of individuals, governments, pension funds, insurers, companies, charities and foundations (as at 31 December 2021) – with support and expertise from 800 investment specialists in over 30 locations.

abrdn is the single global brand for all areas of our business. In July 2021 our plc listing became abrdn plc. In September our investments business, formerly Aberdeen Standard Investments, became abrdn.

 

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About Dalmore Capital

Dalmore Capital is an independent fund management company that seeks to provide its institutional investors with access to long-term investment opportunities in limited volatility infrastructure assets. Dalmore Capital manages over GBP 5.5bn of capital invested in predominately UK based limited volatility infrastructure assets, including approximately 120 PPP assets. Dalmore Capital’s senior management has been involved in UK PPP investment for almost 30 years and has amassed a wealth of experience in all aspects of PPP, including secondary acquisitions, primary bids, disposals, handbacks and multiple operational issues and boasts strong and extensive experience of managing this asset class and jurisdiction.

 

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