Asset & concession finance
Finance sized to an asset’s own cash flow, supported by its contracts, concession terms or toll revenues.
Capital Formation
Restoring the asset is one problem. Financing it is the other.
AIC brings principal investment and capital formation together to support essential infrastructure in markets where conventional financing alone is often insufficient.
We invest where the capital is scarce and the asset is essential.
Alternative infrastructure in the emerging and developing markets. What we invest in, who we invest alongside, how the capital is assembled around our own, and how long we hold it.
Experience of our principals
A record built across markets and cycles.
Our principals have arranged and executed infrastructure capital through global banking and development-finance platforms, working with ministries, national companies and public infrastructure authorities. Their prior experience spans sovereign and quasi-sovereign finance, project finance and international capital markets.
Proprietary capital first. Then the structure around it.
Every position begins with our own capital, at the front of the structure, so what we ask any other party to do is join a risk we already carry. Sponsor equity that arrives last is a principal reason financings of this kind are never written.
Around it we assemble the rest. Bilateral export credit where the equipment has a country of origin. Development finance where the tenor is longer than a commercial market will hold. Limited recourse debt where the cash flow can be contracted. The international markets where the issuer's own standing will carry it. Political risk cover where an exposure belongs with an institution that exists to hold it. We have used each of them, which is a different statement from knowing they exist.
- Infrastructure capital arranged and executed by our principals
- ~US$5bn
- Infrastructure capital-formation experience
- 25 years
- South America · Caribbean · West and Central Africa
- 3 regions
The financing approach
Build the structure around the risk.
An essential asset can still be difficult to finance. The work is to separate its construction, commercial, currency and political exposures, then allocate each to the party equipped to carry it.
Sovereign & structured credit
Facilities for public and quasi-public infrastructure, structured around the obligations and revenues that can support repayment.
Export credit & risk cover
Equipment-linked export credit, development-finance participation and political risk insurance aligned with the project’s requirements.
Production & receivables finance
Capital repaid from contracted production or identified receivables, connecting the financing to the flow the asset creates.
Debt & equity capital markets
International debt, equity and equity-linked issuance where the required scale or capital structure calls for market access.
Public entity restructuring
Business boundaries, liabilities and financial arrangements established so that an entity can be financed, sold down or brought to market.
Principal capital. Long-term responsibility.
We invest capital at our own risk and manage our investments through their term. Engineering firms deliver the works; equipment manufacturers supply the plant. AIC connects those decisions with the financing from the outset.
Our method
From the asset to the financing.
Identify the risks
Establish the asset record and separate the exposures that the financing must address.
Allocate them
Match each exposure with a party able to hold it over the life of the investment.
Arrange the support
Bring together the relevant export credit, development-finance participation and risk cover.
Syndicate and close
Assemble the remaining commercial capital around the resulting financing structure.
The experience behind the approach.
Explore nine financing profiles, from public infrastructure and power networks to industrial capacity and corporate capital raising. Details are presented by region and financing class; specific counterparties remain confidential.
View the nine financings