Slaughter and May is advising Dalmore Capital, a UK-based infrastructure asset manager which manages approximately £6 billion of assets across five flagship funds, on its acquisition by Royal London. As part of the acquisition, which is subject to regulatory approvals, Royal London will commit up to £500 million to future Dalmore funds.
Dalmore specialises in long-term core and core plus infrastructure investments. It has around 130 infrastructure assets in its portfolio, broadly diversified across different sectors, primarily in the UK but also in Europe and Canada. Assets include the Thames Tideway Tunnel, as well as 24 operational wind farms in the UK with total capacity of 562MW and a portfolio of run-of-the-river hydro generation projects in Scotland.
Following completion, ownership of Dalmore Capital and its asset servicing arm, Resolis, will transfer to Royal London Asset Management. Dalmore Capital will operate as a stand-alone infrastructure capability within Royal London Asset Management.
Daisy Mant / Trainee