Concession Infrastructure

Over 20-years experience investing in social, economic and government infrastrucure projects.

Risk warning

The value of investments, and the income from them, can go down as well as up and an investor may get back less than the amount invested. Past performance is not a guide to future results.

Our approach

Scale

We are part of the abrdn brand which manages more than £18.8 billion of assets across private markets. This makes us part of one of the largest private markets investors in the world. In total, over £5.1 billion of infrastructure investments is managed on behalf of investors.*

*Source abrdn. As at 31 December 2020.

Strategy

We focus on availability-based, partially inflation-linked cash flows with little or no correlation to economic cycles. Value resides in the contract, with limited risk associated with residual asset value.

We invest in hospitals, schools, roads, rolling stock, government accommodation, social housing, and waste and water in the UK, Europe, Australia, US, the Middle East and Latin America.

Team
Established in 1998, our highly experienced team of 34 investment professionals have invested in over 120 infrastructure investments to date (May, 2019). The team is based in London, Edinburgh, Paris, Madrid, Amsterdam, Bahrain, Sydney and Bogota.
Investors
Our investor base spans both public and corporate pension funds, insurance companies and family offices across the world.

Concession infrastructure portfolio

Transport

The Madrid Transit Hub is an investment into a special purpose vehicle which owns stakes in 3 operating PPP concessions to maintain and operate transport hubs in Madrid, Spain for a further 22 years. The hubs provide facilities for different types of urban transport (bus, metro, rail and car) for an average of 528,173 daily passengers commuting from the suburbs and within the city.

Social

Paris Justice Court is a PPP contract to design, build finance, maintain and operate a new Justice Court in Paris . The new Justice Court will house 90 courtrooms and is expected to be visited by 8,500 people daily.  The Project Agreement is 32 years, including a 5 year construction period. The term of the operation period is fixed to 27 years. Sector: Government Geography: Paris, France Project Size: €605m
Water treatment

Water Treatment

Mundaring Water Treatment Plant is the design, build, finance and operations of a new treatment plant near Perth, Western Australia. The plant will serve the Goldfields Agriculture region and will supply over 100,000 inhabitants with fresh water supply. The project has been successfully operating since 2013 and we have recently completed the first senior debt refinancing as planned for a further 5 year tenor. Sector: Water Treatment Geography: Perth, Australia Project Size: A$ 400m

Key Documents

Gershon Cohen

Global Head of Infrastructure Funds

Gershon Cohen is Global Head of Infrastructure Funds, abrdn. Gershon’s platform has USD$3bn of institutional capital under management and consists of 7 unlisted funds and associated investment vehicles invested in over 120 greenfield and brownfield infrastructure projects. He is responsible for the management, leadership and development of the concessions infrastructure strategy for abrdn and is a fund principal and chair of investment and associated committees of the platform. The platform operates from offices in London, Edinburgh, Paris, Madrid, Amsterdam, Sydney, Bogota and Bahrain with a team of 32 professional investors and other joint venture partners.

Previously Gershon held the position of CEO SWIP Infrastructure Funds & CEO Lloyds Bank Project Finance Equity and Funds, which involved the origination, investment and management of all infrastructure equity products across the UK, Europe, Australia and Americas. Prior to this, Gershon was Global Head of Lloyds Bank Project Finance. Gershon has played a pivotal role in structuring, arranging and providing innovative funding solutions to a range of ground-breaking PFI/PPP/P3 projects in healthcare, transport, wastewater and education over the last 20 years. Gershon led the fundraising efforts for the current platform. He sits and advises on many trade and governmental committees on infrastructure investment matters; has presented at numerous conferences and seminars; and has written a number of articles on PPP/P3.

Previously Gershon held the position of CEO SWIP Infrastructure Funds & CEO Lloyds Bank Project Finance Equity and Funds, which involved the origination, investment and management of all infrastructure equity products across the UK, Europe, Australia and Americas. Prior to this, Gershon was Global Head of Lloyds Bank Project Finance. Gershon has played a pivotal role in structuring, arranging and providing innovative funding solutions to a range of ground-breaking PFI/PPP/P3 projects in healthcare, transport, wastewater and education over the last 20 years. Gershon led the fundraising efforts for the current platform. He sits and advises on many trade and governmental committees on infrastructure investment matters; has presented at numerous conferences and seminars; and has written a number of articles on PPP/P3.

Meet the wider team

Concession Infrastructure

We have a large and experienced team of infrastructure specialists.

Click here to meet the full team

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