Our team

InfraRed Capital Partners Limited (InfraRed) is TRIG’s Investment Manager. InfraRed has day-to-day responsibility for the investment management of TRIG.

InfraRed Capital Partners is an international infrastructure investment manager, with more than 190 professionals operating worldwide from offices in London, New York, Sydney, Seoul and Madrid. Over the past 25 years, InfraRed has established itself as a highly successful developer and custodian of infrastructure assets that play a vital role in supporting communities. InfraRed manages US$13bn+ of equity capital for investors around the globe, in listed and private funds across both income and capital gain strategies.

A long-term sustainability-led mindset is integral to how InfraRed operates as it aims to achieve lasting, positive impacts and deliver on its vision of Creating Better Futures. InfraRed has been a signatory of the Principles of Responsible Investment since 2011 and has achieved the highest possible PRI rating for its infrastructure business for seven consecutive assessments, having secured a 5-star rating for the 2023 period. It is also a member of the Net Zero Asset Manager’s Initiative and is a TCFD supporter.

InfraRed is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. InfraRed represents the infrastructure equity arm of SLC Management, which also incorporates BentallGreenOak, a global real estate investment management adviser, and Crescent Capital, a global alternative credit investment asset manager.

Further details can be found on InfraRed’s website at www.ircp.com

InfraRed’s Investment Committee for TRIG reviews prospective new investments at various stages of the acquisition process and sanctions the final investment approval. The committee considers, inter alia, the suitability of the new investment in relation to the existing portfolio, its match with the Acquisition Strategy and the delegated parameters set by the Board, and the projected returns. It also carries ultimate responsibility for structuring and managing investments for the Company.

The day-to-day running of TRIG is headed by Minesh Shah, Managing Director, and Phil George, Chief Financial Officer. They are supported by the Fund Management team.

InfraRed’s infrastructure team consists of over 100 individuals and operates as a single platform across all infrastructure funds managed by InfraRed. The teams that support TRIG are broadly split across Business Development & Origination, Portfolio Management, Fund Management and Central Functions.

In terms of focus areas, InfraRed’s infrastructure professionals have an in-depth knowledge within the specific functions in relation to both infrastructure sectors and geographies, which often varies and evolves over time and with the investment strategies of specific vehicles.

Fund Management: A dedicated team with day-to-day responsibility for TRIG’s Fund and Portfolio and Financial Management and acts as the interface between the Investment Manager and TRIG’s stakeholders. Key inputs include the development of TRIG’s strategy to implement the Board’s Investment Policy, namely the identification of suitable markets for investment opportunities that are in line with TRIG’s risk appetite and provide attractive risk-adjusted returns.

Fund Management also undertakes capital raising, investor relations and the preparation of key external communications, including reporting, preparing marketing materials and TRIG’s website. The team liaises with existing investors and related parties (e.g. analysts and other key external stakeholders).

Portfolio and Financial Management:  These teams are concerned with the financial management of TRIG and financial performance of the portfolio. Working closely with the Operations Manager, RES, the team seeks to: monitor the financial performance of each investment against targets and forecasts; consider the portfolio composition and mix within risk appetite and desired returns; manage the investment cashflows; manage the processes and analysis which underpin the semi-annual valuation of the portfolio; ensure good financial management including forex hedging, efficient cash management and treasury processes.

Business Development & Origination: InfraRed has a large Business Development & Origination team including many specialising in the Energy and Renewables sector. Core activities are the building of relationships to provide industry insight and market knowledge and investment due diligence and execution, including detailed financial, legal, commercial and technical analysis of each transaction to examine project risk/returns, counterparties and asset quality. The team will source input from third-party advisers where appropriate.

Central Functions: Additional input is provided by a multi-disciplinary team within Central Functions which maintains and develops the risk management and compliance framework for InfraRed and the funds it manages (including TRIG). It provides independent credit opinions on all material counterparties – principally the supply chain in the context of TRIG investments – and the UK Company Secretariat function. It also offers tax advice and support to the TRIG transactions professionals on structuring, tax due diligence and compliance.

A selection of the individuals in key roles supporting the day-to-day management of TRIG within Fund, Portfolio and Financial Management are shown below.