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Infrastructure Capital Group

PRI reporting framework 2018

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Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

% of assets under management (AUM) in ranges

Further options for investment managers (may be selected in addition to the above)

01.3. Additional information. [Optional]

Infrastructure Capital Group Limited (ICG) is an Australian specialist, independent infrastructure fund management firm.  ICG is the investment manager of three wholesale, unlisted equity infrastructure funds, being Diversified Infrastructure Trust (DIT), the Energy Infrastructure Trust (EIT) and the Northern Territory Infrastructure Development Fund (NTIDF).  On 26 March 2018, DIT undertook a restructure, which resulted in a new Australian “sister” unit trust, named DIT II, which is stapled to DIT.

Infrastructure Specialist Asset Management Ltd (ISAM) is the trustee of DIT and EIT.  The governing bodies for the NTIDF are the independent NTIDF Board, which is supported by the trustee, OneFunds Management Limited. ICG was appointed as manager of EIT in 2004, DIT in 2006, DIT II in 2018 and NTIDF in 2017 under separate Investment Management Agreements.

With over 17 years of experience in infrastructure investments, ICG has a proven track record across all stages of the investment cycle, from deal origination, asset management to investment realisation. ICG has a highly capable, experienced and well regarded investment team that originates and manages infrastructure investments on behalf of large institutional Investors.

ICG holds an Australian Financial Services Licence (AFSL) number 237518 and is authorised to provide financial advice and deal in financial products to wholesale clients.

ICG executives have extensive experience as specialist advisers and investment managers in the infrastructure sector, particularly in the following sectors:

Energy - Renewable Energy, Gas-Fired Generation and Gas Transmission
Transport - Ports, Toll roads
Utilities - Regulated Assets, Utilities
Public Private Partnerships - Social Infrastructure Assets

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Australia

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

23 FTE

02.4. Additional information. [Optional]

Infrastructure Capital Group Limited (ICG) is an Australian based infrastructure manager with offices in Sydney Melbourne, Darwin and Perth.

ICG's senior management team is set out below:

Mike Fitzpatrick - Director & Majority Shareholder

  • Pioneer in infrastructure funds having established Hastings Funds Management
  • Directorship experience includes Rio Tinto, Perth Airport, VFMC and the Australian Football League Commission
  • Chairman of ICG Investment Committee

John Clarke - Founding Director

  • Highly respected industry veteran across infrastructure investment & operations
  • Founding Managing Director of ICG
  • Previously Managing Director of Morrison & Co and Director of Infratil Australia and Infrastructure Partnerships Australia
  • Director of multiple ICG investments

Tom Laidlaw - Managing Director

  • Global infrastructure banking experience across transport, regulated utilities and power
  • Previously Divisional Director, Infrastructure Banking, Macquarie Group
  • Director of Flinders Ports 

Andrew Pickering - Chairman & CIO

  • Asia Pacific investment & operational experience
  • Previously held senior roles at TRUEnergy, Edison Mission Energy and CLP (Hong Kong) and was a Non Executive Director at Equipsuper
  • Director of multiple ICG investments 

Craig Whalen - Executive Director

  • Strong background across project & structured  financing; with ICG responsibilities include bid management and structuring
  • Previously at Macquarie Group and ANZ Bank
  • Director of multiple ICG investments

Edward Lloyd - Executive Director

  • Strong background across acquisition and divestment of assets across sectors including regulated utilities, energy generation, airports, ports, rail, roads and social infrastructure
  • Previous roles at KPMG Direct Investments, Colonial First State Global Asset Management and Hastings Funds Management

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2017

04.2. Indicate your total AUM at the end of your reporting year, Exclude subsidiaries you have chosen not to report on and any advisory/execution only assets.

Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

OO 06. How would you like to disclose your asset class mix

New selection options have been added to this indicator. Please review your prefilled responses carefully.

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 0 0 0 0
Fixed income 0 0 0 0
Private equity 0 0 0 0
Property 0 0 0 0
Infrastructure >50% 100 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Provide contextual information on your AUM asset class split. [Optional]

ICG is an Australian specialist, independent infrastructure fund management firm. With over 17 years of experience in infrastructure investments, ICG has a proven track record across all stages of the investment cycle, from deal origination, asset management to investment realisation. ICG has a highly capable, experienced and well regarded investment team that originates and manages infrastructure investments on behalf of large institutional Investors.

All of ICG's AUM falls into the infrastructure asset class.

ICG is the investment manager of wholesale, unlisted equity infrastructure funds, being Diversified Infrastructure Trust (DIT) and its stapled sister trust DIT II, Energy Infrastructure Trust (EIT) and Northern Territory Infrastructure Development Fund (NTIDF).

In accordance with the relevant Investment Mangement Agreement, the mandates are as follows:

  • DIT’s mandate in accordance with the Investment Management Agreement includes diversified infrastructure investments including transportation, material handling, energy, water, health infrastructure, media, social infrastructure and public private partnerships.  DIT targets investments, either within Australia or OECD countries that will deliver a post-tax IRR of between 9% and 12%.
  • EIT’s mandate in accordance with the Investment Management Agreement includes energy and utility infrastructure including electricity generation and co-generation, coal, fuel deposits, electricity and gas transmission, oil, gas and water pipelines, import/export for energy fuels, handling and processing.
  • NTIDF’s mandate includes greenfield developments (new projects), brownfield projects (upgrading or expanding pre-existing facilities) in energy, transportation, social, agriculture and resources infrastructure. The fund will seek to invest primarily in the Northern Territory, however, some investments may be made outside the Northern Territory, where the project links the Northern Territory to other states.

OO 07. Fixed income AUM breakdown (Not Applicable)

OO 08. Segregated mandates or pooled funds (Not Applicable)

OO 09. Breakdown of AUM by market (Private)

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