Morgan Stanley Infrastructure seeks to pursue a global OECD core-plus strategy by focusing on the acquisition of infrastructure assets with the potential of being turned into core assets, but which, for various reasons, are being operated or managed in a less than optimal manner or where company functions need to be established or rebuilt. MSI defines these situations as core-plus opportunities, as they allow for significant value creation through operational improvements and can include carve-outs of assets from larger entities, assets being privatized, or generally undermanaged assets requiring capital for organic growth, business development projects, or follow-on acquisitions. MSI defines core infrastructure assets as mature businesses with long-term performance history, often operating in regulated environments or under concession or other long-term agreements, in many cases with a high degree of predictability and stability.
Global Network for Sourcing and Investing
MSI's global network for sourcing and investing benefits from Morgan Stanley’s presence in 43 countries, providing access to a very strong network of relationships and proprietary information flows to identify investment opportunities, many of which are not generally available in the public domain.
Experienced Team, Established Process
MSI benefits from a global team with deep experience in all aspects of infrastructure investing. A carefully constructed, tested, and disciplined investment process is designed to ensure that investments are reviewed and compared on a global basis. The size of the global team enables consideration of a large number of opportunities, which are filtered to identify and focus on those with the potential for the best risk-adjusted returns.
Operational Value-add Strategy
MSI's methodical and intensive approach to asset management has created value for assets in its portfolio of investments. Such efforts have translated into additional revenues and EBITDA, or have reduced risk. In addition, MSI has improved the environmental profile of many of its portfolio companies.
MSI has a well-organized, thorough, and tested investment process. This process is designed to ensure that investments are reviewed and compared on a global basis. MSI's global scope allows the team to focus on deals that, in its view, offer particularly attractive risk-adjusted returns. Execution of this process is facilitated by the MSI team's deep experience in all aspects of infrastructure investing.
Due Diligence & Structuring
|Altán Redes|| Acquired March 2017 |
Altán Redes is an international consortium that holds a 20-year concession for the construction and operation of an operator-neutral, nationwide, 4G-LTE network in Mexico.
|VTG AG|| Acquired October 2016 |
VTG is the largest private wagon hire company in Europe and one of the leading providers of rail and tank container logistics services.
|Ital Gas Storage|| Acquired August 2015 |
Ital Gas Storage holds a 40-year concession to convert and operate a depleted gas field in Northern Italy into a regulated gas storage facility.
|Eureka Midstream|| Acquired September 2014 |
Eureka Midstream is a natural gas gathering pipeline system, strategically situated in shale gas basins of the U.S. Northeast.
|Medical Area Total Energy Plant|| Acquired May 2010 |
Medical Area Total Energy Plant is the sole provider of essential electricity, steam and chilled water to off-takers in one of the busiest medical zones in the U.S.
|Chicago Parking Meters|| Acquired February 2009 |
Chicago Parking Meters is the third-largest metered parking system in the U.S., the first and largest asset of its kind to be concessioned under a public-private partnership.
|Affinity Water|| Exited May 2017 |
Affinity Water is the largest regulated water-only company in the U.K. by revenue.
|Agorá Investimenti|| Exited April 2017 |
Agorá Investimenti is the manager of Venice area airports, the third-largest area in Italy after Rome and Milan.
|Madrileña Red de Gas|| Exited May 2015 |
Madrileña Red de Gas is the second-largest gas distributor in Madrid and third largest in Spain
|Southern Star|| Exited April 2015 |
Southern Star is a primary gas transmission/storage facility provider for several major Midwest U.S. cities.
|Eversholt Rail Group|| Exited June 2015 |
Eversholt Rail Group is one of three leading train-leasing companies in the U.K., with approximately 29% of total current British passenger rail fleet.
|Montreal Gateway Terminals|| Exited March 2015 |
Montreal Gateway Terminals is the dominant operator at Port of Montreal and second-largest container facility in Canada.
|Chicago Loop Parking|| Exited January 2014 |
Chicago Loop Parking (CLP) holds a 99-year concession to operate the largest underground parking system in the U.S. in the heart of downtown Chicago.
|Saesa Group|| Exited November 2011 |
SAESA Group is the second-largest electricity distributor in Chile, serving more than 15% of the country's population through hydro, diesel, and gas electric generation.
|Sapphire Holdings|| Exited November 2009 |
Sapphire Holdings purchased subordinated-debt from BAA, which, at the time, owned a number of British airports.