Co-Investments
Conterra Networks
of Assets
Investment Approach
In October 2020, Fiera Infrastructure established the co-investment vehicle for two institutional investors to acquire an interest in Conterra Networks. Fiera Infrastructure, through EagleCrest Infrastructure, acquired an initial interest in Conterra Networks in April 2019 and subsequently formed a consortium of investors to acquire the remaining interest not already owned by EagleCrest Infrastructure. Fiera Infrastructure managed funds and co-investment vehicles now wholly own Conterra Networks.
Investment Overview
Conterra Networks (Conterra) is one of the largest independent fibre bandwidth providers in the United States, specializing in the design, deployment and operation of customized broadband networks, largely in underserved areas. Conterra’s 11,600-route mile fibre network spans 21 states in the Southeast, South Central and Western United States, bringing high-capacity middle and last-mile broadband services to enterprise, carrier and education customers.
Desert Sky Energy
of Assets
Investment Approach
In March 2017, Fiera Infrastructure established the co-investment vehicle for funds managed by Fiera Infrastructure and one significant Canadian institutional investor to acquire an equity interest in a portfolio of renewable energy assets. Fiera Infrastructure now manages the co-investment vehicle, providing active asset management services to its investors and co-investors.
Investment Overview
Desert Sky Energy is a diversified portfolio of 20 solar and wind power generation projects across 10 states in the US. Each project has long-term project financing through tax-equity investments and debt financing as well as long-term power purchase agreements with investment-grade counterparties. The portfolio has implemented several value-enhancing opportunities across the projects, including restructuring debt to take advantage of lower interest rates, renegotiating O&M contracts to leverage the portfolio’s economies of scale and adding reactive power compensation where permitted. The seller, D.E. Shaw Renewables Inc. (DESRI), continues to own 25%-50% of each project.
Wightlink
of Assets
Investment Approach
In August 2019, Fiera Infrastructure established the co-investment vehicle for funds managed by Fiera Infrastructure and one institutional investor to acquire a significant equity interest in Wightlink. Fiera Infrastructure now manages the co-investment vehicle, providing active asset management services to all its investors and co-investors.
Investment Overview
Wightlink is the leading ferry operator serving the Isle of Wight, England’s largest island, carrying nearly 5 million holidaymakers and residents across the Solent every year. Wightlink offers 45,000 sailings a year, utilizing eight ferries on three routes. Wightlink has a proud and rich history, having provided ferry services to and from the Isle of Wight for more than 160 years.