AMP infrastructure debt fund backs UK ports
AMP Capital has made a ‘significant investment’ in a UK port operator within its Infrastructure Debt IV fund.
The firm had invested in a junior HoldCo facility secured against Peel Group’s 37.6% stake in Peel Ports, one of the largest port operators in the UK.
This firm handled around 70 million tonnes of cargo from a diverse range of customers, which made it the second-largest port group in the UK. The diversity of the cargo meant there was no reliance on any one particular type of cargo or customer which reduced concentration risk and impact from global macro forces or commodity types.
AMP said it was also “strategically positioned” for trans-Atlantic traffic as well as short sea container services between the UK, Ireland and mainland Europe.
Emma Haight-Cheng, head of infrastructure debt, Europe at AMP Capital, said: “Peel Ports is an exceptional asset for our investors, representing a very well-managed, robust business with highly diversified business segments.
“The variety of cargo types provides resilience in the business, as demonstrated by its solid growth rates through different macroeconomic cycles. Peel Ports benefits from solid long-term relationships with a highly diversified, blue-chip client base in key strategic locations in the UK; its ports have excellent connectivity with nationwide access to key commercial centres and highly populated areas of the UK.”
AUTHOR
Laura Dew
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