Global investment giant Sun Life Financial has closed on its
majority stake acquisition of InfraRed Capital Partners.
Headquartered in London, U.K., InfraRed is an international
infrastructure and real estate manager with $12 billion in assets under
management.
“We’re excited to complete the acquisition of InfraRed,” said Steve Peacher, President, SLC Management. “While the current global environment continues to test all industries and financial markets, we’re very confident about the long-term growth in infrastructure investing. The increased demand for infrastructure around the world has not dissipated. Infrastructure investing remains well-positioned, presenting many opportunities for enhancing societies in a post-COVID-19 world.”
Peacher added that this transaction also presents
opportunities within renewable infrastructure in North America. “We
believe there is a compelling case for investing in renewable infrastructure,
such as wind farms and solar energy, which can also have a positive impact on
the world.”
” This agreement represents an important milestone in
InfraRed’s journey and will support our continued evolution, including the
launch of a North American renewable infrastructure fund,” said Werner von
Guionneau, CEO, InfraRed Capital Partners.
von Guionneau added, “High quality, reliable core
infrastructure has been essential in delivering to the needs of communities
through this crisis. As societies emerge from the coronavirus pandemic, it is
more crucial than ever to invest in improving our infrastructure, making it
greener and more connected, to ensure we support communities and deliver
sustainable returns. This transaction positions us perfectly and will ensure we
remain at the forefront of essential and sustainable infrastructure.
The deal comes as the House gets set to vote on the Moving
Forward Act, a $1.5 trillion infrastructure bill that prioritizes climate
change and clean energy with a promise to create thousands of new jobs as the
nation tries to recover from the coronavirus pandemic.
The Moving Forward Act, H.R. 2, aims to modernize the country’s aging infrastructure
while combating climate change. It would invest $100 billion in mass transit,
$75 billion in clean energy, $40 billion in wastewater and $25 billion in
drinking water.
The centerpiece of the package is a $494 billion green
transportation bill passed by the Transportation and Infrastructure Committee
earlier this month.
That bill, dubbed the “Investing in a New Vision for
the Environment and Surface Transportation in America Act,” would
establish new federal programs to reduce greenhouse gas emissions from
transportation projects and improve their resilience to natural disasters.
The package also incorporates provisions from the Energy and
Commerce Committee that would modernize the electric grid to accommodate more
renewables and promote energy efficiency.
