Vontobel Wraps Up Infrastructure Business Purchase

Tom Burroughes

3 July 2024

, bought infrastructure firms in order to tap into the growth potential of this asset class. (See stories here, here and here.)

The infracture business will “enable clients to benefit from the potential for diversification supported by low correlation to GDP and other major asset classes, as well as attractive risk-adjusted returns,” Vontobel said.

Ancala, founded in 2010, has more than €4.1 billion ($4.53 billion) in AuM and manages 18 assets operating in essential infrastructure sectors including renewables and energy transition, transport and utilities. The firm will be run independently on a day-to-day basis by its management team, led by managing partner Spence Clunie, and will retain independence over its investment and governance processes, Vontobel said.

Vontobel financed the transaction out of its own funds, which it said "comfortably" exceeded its target Common Equity Tier 1-ratio of 12 per cent.