Vontobel Acquires Significant Minority Stake in London’s Ancala Partners

Vontobel completes acquisition of stake in Ancala, a leading private infrastructure manager based in London. Stay updated on the latest investment news.

Vontobel, a leading Swiss wealth and asset management firm, has successfully completed the acquisition of a "significant minority stake" in Ancala Partners (Ancala), an independent private infrastructure manager based in London. This strategic move, which was officially announced on February 8, 2024, signifies Vontobel's foray into the private markets, expanding its investment capabilities to include the burgeoning private infrastructure segment.

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With this acquisition, Vontobel aims to offer its clients access to the potential benefits of diversification, with low correlation to GDP and other major asset classes, as well as attractive risk-adjusted returns. Ancala, with total assets under management exceeding €4.1 billion, specializes in managing essential infrastructure assets across sectors such as renewables and energy transition, transport, utilities, and the circular economy. Since its inception in 2010, Ancala has maintained a consistent investment strategy focused on delivering enhanced returns from infrastructure investments.

The key differentiator for Ancala lies in its approach to sourcing bilateral investment opportunities, providing downside protection, inflation-linkage, cash yield, and creating sustainable value within its portfolio companies. The firm is led by a seasoned team of partners with extensive experience in infrastructure investing, ensuring a robust track record of adding value across economic cycles and essential sectors.

By entering into this transaction, Vontobel strengthens its position in offering clients diversified, active strategies with long-term growth potential. The global infrastructure market is experiencing rapid growth, driven by the urgent need to replace aging infrastructure and governments' increased focus on infrastructure development. This acquisition equips Vontobel with the necessary capabilities to capitalize on these market trends and provide enhanced diversification opportunities for its clients.

Despite the acquisition, Ancala will continue to operate independently under the leadership of managing partner Spence Clunie, retaining autonomy over its investment and governance processes. Both Ancala and Vontobel are aligned in their vision for future growth and success, with plans in place for Vontobel to acquire the remaining stakes over the long term. The senior leadership team at Ancala remains fully committed to driving the firm's future growth and success.

The transaction was funded using Vontobel's own resources, with the firm comfortably exceeding its target CET1-ratio of 12 percent. This strategic move not only enhances Vontobel's investment capabilities but also positions the firm to capitalize on the evolving infrastructure landscape and deliver value to its clients in the long run.

The acquisition of a significant minority stake in Ancala Partners marks a significant milestone for Vontobel, enabling the firm to expand its presence in the private markets and offer clients access to diversified, active strategies with long-term growth potential.