Pantheon to invest £40mn in gas transmission & metering business

LONDON, UK: Pantheon Infrastructure, the listed global infrastructure fund, has agreed to make investments roughly £40m alongside a Macquarie Asset Management-led consortium, which has agreed to purchase a 60% stake within the UK gas transmission and metering enterprise of National Grid.

The enterprise owns and operates the UK’s regulated nationwide gas transmission system and an independent gas metering business. The 7,660-kilometre transmission system performs a critical role within the UK energy landscape, reliably transporting the gas wanted to warmth homes and energy industry and electrical energy generation. The consortium intends to support the UK Government’s dedication towards Net Zero by 2050 by facilitating the shift towards low carbon heating.

The funding is in line with PINT’s stated technique of constructing a diversified portfolio of global infrastructure assets. Specifically, the funding is within the regulated utilities sector, which is attractive given the excessive visibility of stable and inflation-linked money flows, in addition to growth alternatives available with the transition towards Net Zero.

Richard Sem, Partner at Pantheon Ventures, PINT’s funding manager, said: “This is a uncommon alternative for investors to entry one of many UK’s important energy infrastructure businesses, offering long-term, inflation-linked money flows under a stable regulatory framework. There’s an increasing want for funding in transmission networks and supporting infrastructure as these companies adapt to the necessity for a lower-carbon energy mix, and we’re excited to announce this subsequent funding as we construct out the portfolio.”

www.pantheon.com

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