Former IFM Exec Launches New Infrastructure Manager

Welcome to the Frederic Michel-Verdier blog. A former executive director for Europe at IFM Investors has launched a new infrastructure firm, initially looking to acquire assets on a club deal-basis. Frederic Michel-Verdier, who departed the Australian-headquartered manager after 11-and-a-half years in September, has launched Fair Market Value Capital Partners, which he says will be looking to acquire mid-sized infrastructure assets, initially in Europe. The firm will be targeting what he described as “core-plus assets in core markets” in Western Europe and “core assets in core-plus markets” such as Eastern Europe.

At IFM Michel-Verdier was responsible for relationship and partnership development in addition to origination and execution of deals. He told Infrastructure Investor he is hoping to use this proprietary sourcing experience to build a portfolio at Fair Market Value. He is also planning to recruit a network of senior advisors as well as operating partners to work directly on specific assets.

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“There’s so much liquidity in the industry now that everyone is chasing very few deals. It becomes a bit of a cost of equity play,” Frederic Michel Verdier said. “The only way to effectively create value for investors is to have the right team on the ground to manage the assets.”

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The new firm will be looking for assets with equity ticket sizes of €300 million to €500 million, largely within the energy, mobility, telecoms and water sectors, Michel-Verdier said. He added that each deal would require a maximum of about three or four investors on a club deal basis, with targeted gross returns in the mid-teens. Michel-Verdier is eyeing a potential fundraising process once some seed assets have been acquired by the fund, although the initial focus will be on the club deal format. 

“If it makes sense for the platform, maybe we will move into a fund,” he explained. “We have a permanent capital platform, we invest for the long term. If we feel it’s better to move to a proper fund structure we will. If not, we will continue to do it this way.”
Seoul Summit 7-8 September Seoul.

Frederic Michel-Verdier’s final 18 months at IFM saw him lead the firm’s open-ended Global Infrastructure Fund in deploying about $2.5 billion into FCC Aqualia in Spain, Mersin International Port in Turkey and Deep Container Terminal Gdansk in Poland. Learn more about Frederic Michel-Verdier here. Alternatively, you can also connect with him on the Frederic Michel Verdier Facebook page here. Read the latest Frederic Michel-Verdier news here.

Have you read?

Ex-IFM Director’s New Fund Ambitions

IFM Lead Partners in Europe Frederic Michel-Verdier leaves to Pursue Personal Business Interests

Frederic Michel-Verdier: Bold leadership can release innovation in sustainability

Frederic Michel-Verdier: Infrastructure News UK Today

Sustainable Infrastructure Investments

Welcome to the Frederic Michel Verdier blog. The public and the private sectors have a shared interest in sustainable economic growth and resilient infrastructure. Yet, today’s reality is that global economic growth is weak, while downside risks remain concerning. Coupled with this is the toll climate change continues to take on our planet and the unpredictable future it brings. While these circumstances will affect us all, we know that developing countries are especially vulnerable to both macroeconomic slowdowns and the impacts of climate change. So in today’s blog, Frederic Michel Verdier talks about sustainable infrastructure investment.

frederic michel verdier

Investments in sustainable infrastructure are a “win-win” for economies: they help increase productive capacity and lift economic growth rates, while strengthening a country’s resilience to withstand and even combat future climate risks. Yet, governments lack the financial capacity to fill these needs alone. The private sector must play a bigger role, says Frederic Michel- Verdier. Unlocking the approximately $80 trillion long-term investor asset base, which includes assets under management from insurance companies, pension funds, and sovereign wealth funds—for example—would go a long way to help finance these requirements.

First, investing in sustainable infrastructure requires us to spend more and better. Yet, many countries aren’t constructing the infrastructure necessary to advance economically. And when they do, they aren’t adequately insured to protect them from the potential impacts of climate change, such as physical and transition risks. Consideration of ESG issues now is just a matter of prudent, responsible investment decision making, Frederic Michel Verdier added.

Additional reading:

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Second, institutional investors such as insurers are ideally positioned to commit long-term infrastructure funding, given the long-time horizon of their liabilities.

Third is the use of smart public private partnerships (PPPs), which can reduce pressures on government budgets. Done well, PPPs can lead to efficiency gains, provide attractive returns, and enable effective risk-sharing. The latter is particularly important for institutional investors, as less than 20 percent of the 500 largest cities in the world have an investment grade credit rating.

Frederic Michel Verdier believes that sustainable investing also makes economic sense. His approach to responsible investment is underpinned by the beliefs, pillars and principle. Learn more about Frederic Michel-Verdier here. You can also connect with Frederic Michel-Verdier Crunchbase page here. Alternatively, you can read the latest Frederic Michel Verdier news here.

SUSI Partners AG

Welcome to the Frederic Michel Verdier blog. SUSI Partners has made its first investment in Australia and is actively pursuing additional projects in the country the Swiss investment manager said. The manager’s €252m SUSI Energy Storage Fund (SESF) will invest €30m to buy and finance the construction of a 34MW solar PV plant with storage optionality in Middlemount. Once completed, the plant is expected to be the largest solar plant in SUSI’s portfolio.

This investment represents an important step in the internationalization of SUSI`s investment remit and the first investment into the Australian market, which we deem highly attractive for clean energy infrastructure investments, despite the recent energy policy uncertainties. SUSI, through its SESFfund, is actively pursuing several additional projects under exclusive terms in Australia, the manager said, adding that the fund is in active discussions on a strong pipeline of projects globally.

About Frederic Michel Verdier

Frederic Michel-Verdier has over 15 years experience in large scale Equity Investments and Asset Management of Global Infrastructure assets.Learn more about Frederic Michel-Verdier on his profile page. Read Frederic Michel Verdier‘s latest investment management post on his Facebook profile here. Watch Frederic Michel Verdier video below.

Greencoat Capital launches €333m clean energy fund

Welcome to the Frederic Michel-Verdier blog. Frederic Michel-Verdier is a Funds veteran specializing in infrastructure equity investments and asset management. Greencoat Capital announces the launch of a new closed-ended private markets fund, Greencoat Renewable Income LP (GRI), and is delighted to have already secured £277m of commitments from leading UK pension investors Brunel and SAUL. Find out more about Frederic Michel-Verdier‘s investment expertise here. 

GRI offers institutional investors the opportunity to invest through a singular vehicle into a diversified portfolio of UK renewable infrastructure assets delivering predictable sterling cashflows with significant inflation protection. Investments are expected to focus on solar, wind and bioenergy, with selected other green infrastructure opportunities such as renewable heat. GRI is to make investment allocations which will be managed by Greencoat’s teams.

About Frederic

Frederic Michel-Verdier deployed in excess of $2.5bn equity in the utilities and transport sectors in the last 18 months at IFM Investors – a uniquely-structured open-ended global fund manager – with over $100 billion in assets under management. He has also held the position of Vice Chairman of Veolia Polska for ten years. Read more about Frederic Michel- Verdier here. Follow Frederic Michel-Verdier on Instagram here. Watch Frederic Michel-Verdier video below.

Water sector

Welcome to the Frederic Michel- Verdier blog. Frederic Michel-Verider is the leading partner in the acquisitions of Deep Container Terminal DCT Gdańsk (Poland) in 2019. Every day, over 50 million household and non-household consumers in England and Wales receive good quality water, sanitation and drainage services. These services are provided by 32 privately-owned companies in England and Wales. Since the water and sewerage industry was privatised in 1989 a regulatory framework has been in place to ensure that consumers receive high standards of service at a fair price. This framework has allowed the companies to invest more than £130 billion in maintaining and improving assets and services. The industry must also comply with national and European legislation.

Regulatory framework

Sets the overall water and sewerage policy framework in England. This includes

  • standard setting
  • drafting of legislation
  • creating special permits (e.g. drought orders)

Trying to meet investment needs

Although the restructuring had some improvements, it was difficult for water authorities to invest significantly in their assets. Additionally, the structure of the authorities meant that they were responsible for both discharging treated water into the environment and also monitoring discharges into the environment – both their own, and that of others. In response, in the Water Act 1983 the government:

  • made some constitutional changes
  • reduced the role of local government in decision making
  • gave the authorities scope to access the private capital markets.

With the privatisation of other public services already underway, the decision was taken to privatise the water authorities. This was enacted by the Water Act of 1989, which:

  • separated the functions of providing water and sewerage services, and monitoring discharge into the water system
  • allowed the privatised water authorities to borrow money to invest in water and sewerage services.

Regulating the privatised companies

To protect the interests of customers and the environment, at privatisation there was further restructuring of the industry. Three separate, independent bodies were established to regulate the activities of the water and sewerage companies. These were:

  • the National Rivers Authority – which took over the remaining functions, assets and staff of the water authorities as the environmental regulator
  • the Drinking Water Inspectorate – as the regulator of drinking water quality
  • the Director General of Water Services supported by the Office of Water Services (Ofwat) – as the economic regulator. More recent updates on the Frederic Michel-Verdier blog about infrastracture here.

Check back for more!

Frederic Michel-Verdier is a Funds veteran specializing in infrastructure equity investments and asset management with over 25+ years of experience. Find out more about Frederic Michel- Verdier by reading this article. Follow Frederic Michel-Verdier Instagram for more updates.

GI Partners To Push Digital Infrastrucure

Welcome to the Frederic Michel-Verdier blog. GI Partners, a private investment firm based in San Francisco, California has raised over $17 billion in capital from leading institutional investors around the world to invest in private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the Healthcare, IT Infrastructure, Services, and Software sectors. The real estate team invests across a broad range of platforms and strategies. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. GI has also made key appointments to lead the new effort to it. A month earlier, GI hired Steve Smith, the former chief executive officer of data center company Equinix Inc. Check out Frederic Michel- Verdier website to read more about the flow of private capital into infrastructure projects around the world.

About Frederic 

Frederic Michel-Verdier has over 25+ years of experience in large scale Equity Investments and Asset Management of Global Infrastructure assets and financial services. Read more about Frederic Michel- Verdier here. Connect with him on the Frederic Michel-Verdier Crunchbase page.  You can also watch the Frederic Michel-Verdier video below

Frederic Michel-Verdier News

Frederic Michel-Verdier has announced he will be attending the upcoming Infrastructure Investor Global Summit on 16th to the 19th of March 2020 in Berlin. Frederic Michel-Verdier and other members of industry’s most influential practitioners are to attend the 2020 Summit, with speakers include Lord John Browne, Ben Hammersley, James Kerr and Dr Ayesha Khanna. The Berlin Global Summit is one of a number of high profile Infrastructure events attended by Mr. Frederic Michel-Verdier in recent weeks, including Paris Infraweek and Citi Outlook 2020 conference in London.

frederic michel verdier

Citi Private Bank also is confident that 2020 will be brighter than many expect. “We believe that global growth will surprise positively, feeding through into modest corporate earnings growth. In turn, this should buoy equity markets and cause longer-term rates to rise by more than the consensus expects. We urge you to cut through the negative noise, focus on hard economic data, and stay fully invested.”

The Berlin Global Summit is one of a number of high profile Infrastructure events attended by Mr Frederic Michel-Verdier in recent weeks, including Paris Infraweek and Citi Outlook 2020 conference in London. Frederic Michel-Verdier is a leader in the Infrastructure Investment industry and is planning on attending more upcoming events this year. Find out more about his upcoming news on the Frederic Michel-Verdier website. Alternatively, you can also follow Frederic Michel-Verdier on Facebook here.

Frederic Michel Verdier: Benefits of Building a Smart City

Welcome to the Frederic Michel Verdier blog. Smart city technology can help cities operate more efficiently while improving services to citizens and businesses, among many other benefits. The initiatives of the smart city is to prioritise people- both the residents and the visitors above everything else will tend to improve the life quality. From housing to transport, to health, to educational services, to environmental conditions, to happiness, to well-being.

Citizens can also expect cities to deliver robust, user-friendly digital services in many facets of life. Expanding digital services in communities make smart cities a more attractive place for residents to live and promote a connected citizen experience.

“Connected transportation systems have some of the greatest potential to drastically enhance efficiencies throughout a city” says Frederic Michel-Verdier. From enhanced traffic management to public transit riders’ ability to track bus or train locations, smart technologies allow cities to better serve citizens despite often rapidly growing populations.

With this, a smart city should also support the idea of sustainable development as it is the basic need of an hour and we cannot compromise in dealing with the valuable natural resources and fall into crisis. Also, taking the first steps toward picturing what your smart city might look like is, well, the smart thing to do.

Frederic is an infrastructure veteran who specialises in infrastructure equity investments and asset management. Frederic Michel-Verdier will be attending the upcoming Infrastructure Investor Global Summit on 16th to the 19th of March 2020 in Berlin. Find out more about him and read his latest tweets on his Twitter profile and visit his website for more.

Watch the Frederic Michel-Verdier video here

Frederic Michel-Verdier: Civil Engineers to Design a Better Future

Welcome to the Frederic Michel-Verdier blog. Frederic Michel-Verdier is an infrastructure veteran. Now is the time to embrace the Vision and the Roadmap and put passion and expertise into play.  So what will the civil engineering world be like in 2025? What roles will civil engineers play in that radically transformed world?

  • Civil engineers, will lead global, multi-disciplinary teams made up of professional engineers, technologists, and technicians, all with well-defined roles.
  • Civil engineers will be introduced to new technology for sustainable planning, design, construction, operation, and maintenance.
  • Civil engineers will gain mastery in assessing and managing risk and forge new tactics for reducing the incidence and effects of natural and man-made disasters.
  • Civil engineers will be the go-to professionals for insights on public policy decisions that shape the built and natural environment.

Check back for more!

Frederic Michel-Verdier has been instrumental in developing the IFM London office through his strategic relationships and partnerships for the long-term benefit of the investors and their members and has played a key role in a number of the most successful infrastructure investments including the acquisitions of Veolia Poland, FCC Aqualia, Mersin International Port and Deep Container Terminal Gdansk. Learn more about the work of Frederic Michel-Verdier here. Check out Frederic Michel-Verdier‘s tips on the insights on public policy decisions that shape the built and natural environment here. Alternatively, you can also read Frederic Michel-Verdier‘s news here.

Watch the Frederic Michel-Verdier video here

Frederic Michel-Verdier: Tackling an Infrastructure Project

Welcome to the Frederic Michel-Verdier blog. Frederic Michel-Verdier has over 15 years experience in large scale Equity Investments and Asset Management of Global Infrastructure assets. Issues arise when it’s time to upgrade aging infrastructure. Like any city experiencing a resurgence of downtown living and economic growth, the demand on infrastructure grows as well. Who’s impacted when it’s time to make upgrades? Citizens, business owners and government agencies are all affected. Here are tips for creating the most value when upgrading aging infrastructure.

  1. Replacing aging infrastructure isn’t always complicated, but it requires investigation. You need to know where the existing infrastructure is and how you can connect it with the new project. Knowing the city processes, systems, details, standards, folklore, cultural values and general information that makes up your community is important.
  2. Whether working with the unknown, or planning on executing a basic upgrade to existing infrastructure, prepare to be flexible.This meant that the team had to be flexible in how they handled the upgrade as it was not a one-size-fits-all solution.
  3. Thinking ahead and having a vision for the future because it can save you money, time and inconvenience. Cities should look to the future and ask the right questions. Do you need a new waterline? If yes, would you want an excavation down your newly paved roadway? What will my residents want? It’s easier to do these improvement projects when roadways are already under construction.

Bringing it all together

Your city is destined for great things. With the right plan for aging infrastructure, you can get there.

Frederic Michel-Verdier has over 15 years experience in large scale Equity Investments and Asset Management of Global Infrastructure assets. Frederic Michel-Verdier has also deployed in excess of $2.5bn equity in the utilities and transport sectors in the last 18 months at IFM Investors – a uniquely-structured open-ended global fund manager – with over $100 billion in assets under management and has held the position of Vice Chairman of Veolia Polska for ten years. More about Frederic Michel-Verdier here. Alternatively, you can also read Frederic Michel-Verdier news here and get the latest from the Infrastructure investment industry.

Watch the Frederic Michel-Verdier video here

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