ANNUAL REPORT 2007 | 2008 - Gimv

INFRA-
STRUCTURE
DG Infra+
Together with Dexia, Gimv has set up DG Infra+,
an unlisted fund that is focused on infrastructure
investments. In an initial closing in December
2007, DG Infra+ gathered EUR 135 million from
institutional investors Arcofi n, Dexia BIL, Ethias,
Gemeentelijke Holding and the Société Régionale
d’Investissement de Wallonie.
56 | Gimv Annual Report 2007-2008 | Operating and fi nancial report
The fund’s management team is concentrating on three types
of transaction:
- The fund wants to participate in infrastructure construction
and management companies. These companies can be active
in a broad range of infrastructure activities. Renewable energy,
transport and logistics are some of the areas DG Infra+ is
interested in. The fund can distinguish itself in the market
with a project-oriented approach and a readiness to invest in
not-yet-developed projects or greenfi elds.
- In PPP projects DG Infra+ is the fi nancial partner in consortia
with various building parties. These consortia enter into longterm
DBFM (Design-Build-Finance-Maintain) agreements with
the government in various sectors like transport and housing.
- Finally, the fund can also invest in selective real estate projects
which are still at an early stage and therefore involve a development
risk.
The geographic emphasis is on the Benelux, where Gimv’s local
anchoring offers added value through its familiarity with market
conditions. DG Infra+ is also interested in investment opportunities
in other European Union countries, where cooperations with
co-investors permit further portfolio diversifi cation and larger
transactions.