Investment Manager

InfraRed Capital Partners Limited (“InfraRed”) is the Investment Manager of HICL. In addition, InfraRed’s infrastructure team has day-to-day responsibility for managing HICL’s existing portfolio and for sourcing and executing infrastructure investments. The team holds stewardship responsibility for HICL’s investments in infrastructure and strives to ensure that those who use the infrastructure, receive good quality services.

InfraRed is a leading international expert in the financing, development and management of infrastructure projects from their conception, design and construction into their long-term operating phases.

The infrastructure team consists of over 90 investment professionals, based in London, New York and Sydney. The team has a diverse skill-set, ranging from due diligence and analytical capabilities through to specialist technical knowledge.

Achieving the required availability and quality of the infrastructure is key to long-term success for all stakeholders, and the Investment Manager has a strong, professional team in place to ensure this is consistently maintained.

Business Development & Origination

The Business Development & Origination team is central to the delivery of accretive investments, including both acquisitions and disposals.

Business Development is the building of relationships to provide industry insight and market knowledge. The team brings to bear its international coverage and market expertise to identify and deliver accretive investment opportunities.

Origination focuses on the day-to-day responsibility for investment due diligence and execution, including detailed financial, legal, commercial and technical analysis of each transaction to examine project risk/returns, counterparties and asset quality. The team will source input from third-party advisers where appropriate.

Asset Management and Portfolio Management

Working closely together, InfraRed’s Asset Management and Portfolio Management teams are key to HICL’s investment proposition by preserving and, where possible, enhancing value for stakeholders and shareholders.

Asset Management is focused on the successful management and operational performance of the investments at project level with a heavy focus on client engagement. Activities include: management oversight of each investment; where the project involves the construction of new facilities, regular monitoring of progress to ensure successful delivery; pro-actively building and maintaining closer, open stakeholder relationships at project company level; facilitating early resolution of operational issues as they arise, including contractual disputes; and enhancing ESG initiatives in each project company, where appropriate.

Portfolio Management is concerned with the financial management of the HICL group and financial performance of the portfolio. Working closely with the Asset Managers, the team seeks to: monitor the financial performance of each investment against targets and forecasts; consider the portfolio composition and mix within risk appetite and desired returns; manage the investment cashflows; manage the processes and analysis which underpin the semi-annual valuation of the portfolio; ensure good financial management including forex hedging, efficient cash management and treasury processes.

Central Functions

InfraRed’s Central Functions is a multi-disciplinary team that provides services on which HICL draws. It holds responsibility for maintaining and developing the risk management and compliance framework for InfraRed and the funds it manages (including HICL) and advises. It provides independent desk top credit opinions on all material counterparties - principally the supply chain in the context of HICL's investments - and the UK Company Secretariat function. From a tax perspective, the team works with the HICL transaction professionals on structuring, as well as tax due diligence and compliance matters.

Fund Management

A dedicated team with day-to-day responsibility for HICL and interface between the Investment Manager and HICL’s stakeholders.

As HICL’s alternative investment fund manager (AIFM), the Investment Manager is responsible for the portfolio and risk management of HICL, subject to the oversight of the Board.

Its activities include the development of HICL’s strategy to implement the Board’s Investment Policy, namely the identification of suitable markets for investment opportunities that are in line with HICL’s risk appetite and provide attractive risk-adjusted returns. The Investment Manager’s Investment Committee approves decisions on investments and divestments.

Fund Management also undertakes capital raising, investor relations and the preparation of key external communications, including HICL’s website. The team liaises with existing investors and related parties (e.g. analysts and other key external stakeholders).