LONDON; February 19, 2020 – Frederic MICHEL-VERDIER is launching a new permanent capital platform, Fair Market Value Capital Partners, targeting sustainable equity investments in the infrastructure space.
Fair Market Value Capital Partners plans to invest across European infrastructure targeting core assets in 'core+' markets and 'core+' assets in core markets with a specific focus on energy, transport, telecoms, environment and services sectors. The manager will use its extensive industry relationships to originate proprietary transactions and take an operational approach to managing its investments to deliver superior risk-adjusted returns to its investors.
“Fair Market Value Capital Partners will start pursuing sizeable infrastructure deals immediately on a club-deal basis, which will eventually lead to a formal fundraising”, Michel-Verdier said.
The team is being finalised and will bring together extensive investment and operational experience and be further supported by a panel of Senior Advisory Partners consisting of leading industry figures.
Infrastructure veteran Michel-Verdier left IFM Investors after more than a decade at the global fund manager in September last year.
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 was IFM’s lead partner for the origination and acquisition of 49% of Aqualia, the Spanish water management company in which IFM acquired a 49% from Carlos Slim’s FCC for €1,02 million. In October 2017, he advised on IFM’s acquisition of a 40% stake in Mersin International Port for $869 million, later 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, under his leadership, IFM acquired a 40% stake in 2010.
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