InfraRed Capital Partners

What InfraRed Capital Partners does

InfraRed Capital Partners is an international infrastructure asset manager founded circa 2000 and headquartered in London, operating as a wholly-owned subsidiary of SLC Management (the institutional alternatives and traditional asset management business of Sun Life Financial). The firm manages $13bn of equity capital for institutional investors, including pension funds, insurance companies, sovereign wealth funds, endowments, and family offices, across both listed vehicles and private funds spanning core and value-add risk profiles. Core listed products include The Renewables Infrastructure Group (TRIG, managing 2.3 GW across six European markets) and HICL Infrastructure, both traded on the London Stock Exchange; private strategies span value-add greenfield development, core/core-plus operational assets, and a recently-launched structured digital infrastructure vehicle in partnership with Pantheon.

The firm invests across four primary verticals: energy transition and renewables (offshore wind, solar, geothermal); communications and digital infrastructure (data centres, fibre-to-the-home, mobile towers); and social and transport infrastructure (high-speed rail, hospitals, ferries). Notable operating platform investments include Nexspace (DACH region edge data centres, ~3MW), Qu Data Centres (nine Canadian facilities from Rogers Communications, up to 49MW capacity), NxN Data Centers (Spanish platform, 5MW Valencia facility opening 2027), Voltan Energy (Finnish geothermal ground-source heat pumps), Hullo Ferries (Vancouver-Nanaimo high-speed passenger service), and GulenSkyss (Norwegian ferries and ambulance boats). The technology backbone is a proprietary Digital Asset Management Platform connecting business functions across geographies, standardizing data collection and reporting for 130+ assets and 500+ users.

The business model is institutional B2B asset management, generating revenue through management fees on listed and private funds plus performance fees (carried interest) from successful exits. Pricing is not publicly disclosed and operates via separately negotiated institutional arrangements. The firm employs over 160 industry experts and specialists across seven offices (London, New York, Miami, Frankfurt, Madrid, Sydney, Seoul), with a dedicated Capital Formation team covering Europe, Americas, and Asia-Pacific. Distribution is direct-to-institutional via the listed vehicles on public exchanges, private fund placements, and co-investment opportunities. The firm is regulated by the UK Financial Conduct Authority and registered with the SEC.

Name

InfraRed Capital Partners

Legal name

InfraRed Capital Partners Limited

Website

https://www.ircp.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

101–250 employees

Short description

InfraRed Capital Partners is a London-based international infrastructure asset manager managing $13bn of equity capital for institutional investors across listed and private infrastructure funds. The firm, wholly owned by Sun Life Financial's SLC Management, invests across energy transition, digital infrastructure, and social/transport verticals.

Ownership category

akta.pro rank

Product category

Infrastructure Asset Management

NAICS

Other Investment Pools and Funds (5259), Other Financial Investment Activities (5239), All Other Financial Investment Activities (52399)

SIC

Investors, Nec (6799), Investment Advice (6282)

akta.pro primary industry

Core Infrastructure Funds (Transport, Social, Digital, Utilities) (FSANAEAA)

akta.pro secondary industries

Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD), Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Infrastructure asset management
• Infrastructure investment management
• Renewable energy investments
• Digital infrastructure platforms
• Value-add infrastructure

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Asset Management Fees: InfraRed earns management fees and performance fees (carried interest) from managing listed and private infrastructure funds for institutional investors. The firm manages listed vehicles including TRIG and HICL Infrastructure, as well as unlisted private funds across core and value-add strategies.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

InfraRed Capital Partners is an international infrastructure asset manager that invests in essential infrastructure assets across digital, energy, social and transport sectors. The firm manages listed and private investment funds on behalf of institutional investors, applying both core and value-add strategies spanning the full infrastructure lifecycle from early-stage development through to active asset stewardship. It operates with $13bn of equity under management and delivers exposure to operational assets through vehicles such as HICL Infrastructure and The Renewables Infrastructure Group (TRIG), alongside private funds and co-investment opportunities.

Product overview

InfraRed Capital Partners is an international infrastructure asset manager offering investment products across multiple risk profiles. The company manages listed and private investment vehicles providing exposure to essential infrastructure assets. Core listed strategies include HICL Infrastructure and The Renewables Infrastructure Group (TRIG) for stable, liquid returns. Value-add strategies target early-stage development and construction of large-scale infrastructure. A core-plus digital infrastructure vehicle (in partnership with Pantheon) focuses on existing data centre and tower assets. The portfolio includes direct infrastructure holdings: Nexspace (DACH data centre platform with ~3MW capacity), Qu Data Centres (Canadian platform with 9 facilities and 49MW capacity), NxN Data Centres (Spanish platform with 5MW Valencia facility), GulenSkyss (Norwegian ferry and ambulance boat operator), Hullo Ferries (Vancouver-Nanaimo passenger ferries), and Voltan Energy (Finnish geothermal ground-source heat pump company). The firm manages US$13bn of equity across listed and private funds for investors globally.

Differentiator

Problem solved

Functional benefit

Products and services

• Core Listed Infrastructure Strategies
• Value-Add Infrastructure Strategies
• Core-Plus Digital Infrastructure Vehicle
• Private Infrastructure Funds
• Co-Investment Opportunities

Quantifiable outcome

• 25+ years investing in infrastructure
• +2 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core and minor.

• NxN Data Centers (Nethits Telecom Group and Adequita Capital)coreStrategic or Co-development Partner · 16 December 2025InfraRed acquired a majority stake in NxN Data Centers, a Spanish data centre platform formed in 2023 as a joint venture between Nethits Telecom Group and Adequita Capital. InfraRed and minority investor Adequita support development of NxN's first 5MW facility in Valencia (opening 2027) and ongoing expansion across the Iberian peninsula.
• Hogan LovellsminorImplementation/ SI/ Consulting Partner · 8 December 2025Global law firm Hogan Lovells advised Pantheon in the strategic core-plus digital infrastructure vehicle with InfraRed Capital Partners.

Scale indicators4 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Macquarie Asset Management: Macquarie's infrastructure platform is the largest dedicated infrastructure manager globally, with hundreds of billions in AUM across core, value-add and development strategies. It is a directly comparable infrastructure asset manager serving institutional investors with similar listed and private fund structures.
• Brookfield Asset Management: Brookfield operates one of the world's largest infrastructure platforms spanning renewables, digital, transport and social infrastructure. As a public alternative asset manager, it competes head-to-head with InfraRed for institutional capital and large-scale infrastructure transactions.
• KKR Infrastructure: KKR's Global Infrastructure platform invests across core, core-plus and value-add with a strong digital infrastructure and renewables pipeline, directly competing with InfraRed for institutional mandates and platform deals in Europe and North America.
• BlackRock Global Infrastructure (GIP): Following the acquisition of Global Infrastructure Partners, BlackRock runs a large-scale infrastructure platform across digital, energy and transport. It is a direct competitor for the largest institutional mandates that InfraRed targets.

Direct peers

• IFM Investors: IFM is a global infrastructure asset manager owned by Australian pension funds with a similar mid- to large-cap core and value-add infrastructure strategy. It runs both unlisted and listed vehicles, making it a close parallel to InfraRed's TRIG/HICL plus private funds model.
• I Squared Capital: I Squared is a global infrastructure private equity manager focused on mid-market core-plus and value-add investments in digital, energy transition and transport, closely overlapping InfraRed's value-add strategy and geographic focus.
• Antin Infrastructure Partners: Antin is a European-headquartered infrastructure mid-market sponsor with a similar value-add and core-plus focus across digital, energy and transport. Its mid-market fund size and listed IPO provide a useful valuation reference point for InfraRed's private fund strategy.
• EQT Infrastructure: EQT Infrastructure is a European infrastructure platform with value-add and growth strategies spanning digital, energy transition and transport. Its mid-to-large deal size and sector focus make it a comparable infrastructure sponsor to InfraRed's value-add funds.
• Stonepeak: Stonepeak is a US-headquartered infrastructure manager specializing in digital infrastructure, energy transition and transport mid-market deals, directly overlapping InfraRed's recent pivot into data centres, towers and renewables.
• Arcus Infrastructure Partners: Arcus is a European mid-market infrastructure manager with a focus on digital, transport and social infrastructure, similar in scale and strategy to InfraRed's value-add and core European franchise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/2171676

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about InfraRed Capital Partners