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February 19, 2020 – Infrastructure industry veteran Frederic Michel-Verdier has just launched a new platform targeting equity investments in infrastructure , six months after his departure from !FM Investors.
The new investment manager , Fair Market Value Capital Partners, will seek to invest in the energy, transport , telecoms and environment sectors across Europe, Michel-Verdier told Inframation.
This "permanent capital platform" will initially seek to focus on deal sourcing and partner with other coinvestors. This might eventually lead to launching a formai fundraising for a new fund later on, he said.
"Our main approach will be club-deal transactions, with operating partners dedicated to the asset, people like experienced ex-CEOs and ex-CTOs with specific knowledge of the type of assets we target ,'' he said.
It has already examined several "sizeable infrastructure deals,'' he said, without adding further details on the possible investments.
The new platform will target core+ infrastructure assets in western European countries, and core asset in other peripheral European markets.
Verdier is yet to announce further hires for his new venture. He said he aims to build a team comprisin investment managers with experience in infrastructure , supported by a panel of senior advisory partners consisting of leading industry figures.
Michel-Verdier left IFM Investors last August after more than a decade at the global fund manager.
He was IFM's lead partner on its acquisition in May 2019 of a 30% stake in the Deep Container Terminal Gdansk in Poland from Macquarie , alongside PSA International and the Polish Development Fund.
In October 2018, he led IFM's acquisition of 49% of Aqualia, the Spanish water management company in which !FM acquired a 49% from FCC for EUR 1.02bn
The previous year, he advised on IFM's acquisition of a 40% stake in Mersin International Port for USD 869m, la ter joining the Turkish company's board. He also served as a board observer at FCC Aqualia.
He was vice chairman of the supervisory board of Polish heating networks operator Veolia Energia Polska, in which !FM acquired a 40% stake in 2010.
Antonio Fabrizio
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