R DACH INFRASTRUCTURE OPEN SPACE 3 - Connecting German, Swiss and Austrian capital with global infrastructure - Institutional ...

 
R DACH INFRASTRUCTURE OPEN SPACE 3 - Connecting German, Swiss and Austrian capital with global infrastructure - Institutional ...
Connecting German, Swiss and Austrian capital
with global infrastructure
r
DACH INFRASTRUCTURE
OPEN SPACE 3
25th October | Sofitel Bayer Post | Munich - Germany

                                               3rd DACH INFRASTRUCTURE
                               1               OPEN SPACE 2018
                                               Munich, 25 October 2018
R DACH INFRASTRUCTURE OPEN SPACE 3 - Connecting German, Swiss and Austrian capital with global infrastructure - Institutional ...
Connecting first-rate infrastructure managers with the German,
Austrian and Swiss infrastructure investor community

 The DACH Infrastructure Open Space 3 (DIOS 3) is an exclusive meeting for participants
  in the infrastructure investment community.
 DIOS 3 brings together high-quality, institutional investors/LPs looking to deploy capital to
      the best-in-class GPs focused on infrastructure investments

      ▪     The audience: Decision-makers from the most active LPs in the DACH region meet
            managing partners from leading infrastructure investment firms from across the globe

      ▪     The agenda: The most important themes driving infrastructure investment strategies
            as identified by the investor community and thought leaders from the industry

      ▪     The format: The event starts with an informal dinner followed by a full day off-the-
            record gathering with top-level discussions addressing industry issues and new
            investment themes

     The DACH Infrastructure Open Space is the perfect arena for the DACH region’s most
      influential investors to interact with their peers and a selected group of invited senior fund
      managers.

Why Attend?

      Largest DACH-only        Meet with leading   A powerful learning                           Discover innovative
                                                                         Unrivalled networking
       event focusing on       DACH investors         environment                                     solutions
                                                                             opportunities
    infrastructure investing

             D

       CH             A

                                                                                   3rd DACH INFRASTRUCTURE
                                                      2                            OPEN SPACE 2018
                                                                                   Munich, 25 October 2018
R DACH INFRASTRUCTURE OPEN SPACE 3 - Connecting German, Swiss and Austrian capital with global infrastructure - Institutional ...
Sponsors, Supporting Organisations & Publishers

Absolut|report (www.absolut-report.de) has been launched in 2001 and is now the leading
independent publication for institutional investors in Germany, Austria and Switzerland.

Covering all topics of interest to institutional investors Absolut|report focuses on innovations and new
developments for the institutional asset management industry. Investment strategies in all asset
classes, along with risk management, legal and taxation aspects are provided by science and industry
experts.

In combination with Absolut|performance, our web platform and our professional approach, we
provide direct access to institutional investors’ decision makers through our outstanding quality and
prestigious platform. Absolut|report and Absolut|performance are, like all our publications, available
through an annual subscription.

Bundesverband Alternative Investments e.V. (BAI – www.bvai.de) is the central advocacy association
for the alternative investment industry sector in Germany.

The BAI serves as a catalyst between institutional and professional German investors and recognized
providers of alternative investment products worldwide. Particularly, one goal is to make it easier for
institutional and professional German investors to more effectively diversify their financial assets into
Alternative Investments, especially as many of those investors are responsible for safeguarding long-
term retirement pensions.

Another core task of the organization is to improve public awareness and enhance the understanding
of asset classes and strategies in public. The BAI maintains an intense dialogue with political
institutions as well as supervisory bodies. Furthermore, the BAI cooperates with various national and
international organizations and industry associations. It advocates for legal reforms to design an
attractive and competitive regulatory environment for Alternative Investments in Germany.

At present, BAI counts 200 members from all areas of the professional alternative investments sector.

                                                                           3rd DACH INFRASTRUCTURE
                                                3                          OPEN SPACE 2018
                                                                           Munich, 25 October 2018
R DACH INFRASTRUCTURE OPEN SPACE 3 - Connecting German, Swiss and Austrian capital with global infrastructure - Institutional ...
ICA (www.ic-ica.com) provides investment advisory and capital raising services and delivers unique,
exclusive investor events.
The focus of the firm lies on tailor-made investment solutions in the private equity, private debt and
real assets sectors.
In addition to that, ICA helps raising funds for alternative investment firms. The firm takes on a limited
number of assignments each year, preferring to work on a tailored basis with each mandate specified
and executed to best suit its client.
ICA is owner-managed and headquartered in Munich/Germany.

Stafford Capital Partners (www.staffordcp.com) is a leading private markets investment and advisory
group with a global presence and USD 4.1 billion under management and advice. Stafford works with
a wide range of institutions to deliver returns through active investing across the private markets.
Stafford is specialist in a range of real assets including Timberland, Infrastructure, Agriculture and
maintains a high proportion of secondary transactions across the various asset classes.
Stafford is owned entirely by its principals who have spent their careers investing in the private
markets on behalf of clients with relationships spanning decades. While underpinned by investment
performance, Stafford supports clients with complete integrity, open communication and a philosophy
of responsible investing.

                                                                            3rd DACH INFRASTRUCTURE
                                                 4                          OPEN SPACE 2018
                                                                            Munich, 25 October 2018
HSH is one of Germany’s leading project financing banks, especially in the key focus sectors
Infrastructure & Energy. In both areas, HSH holds a significant market share in Europe and works in
close corporation with institutional investors and other syndicate partners in various forms: direct
loans, cash & non-cash risk sub-participation, club deals and fund-based financial arrangements.
HSH offers many years of experience in the financing business, good market access and extensive
origination know-how. HSH has a close network in the European market and reliable customer
relationships based on partnerships. Within the Infrastructure sector HSH provides support to projects
in the rail, road, port, airport, social and public projects as well as telecommunications and energy
infrastructure sectors. Overall the relevant team closes around 20 transactions per year in these
sectors. The volume of the Infrastructure & Logistic Portfolio comprises EUR 1.9 bn.

GRESB is an investor-driven organization that is transforming the way we assess the environmental,
social and governance (ESG) performance of real assets globally, including real estate portfolios and
infrastructure assets. Over 75 institutional investors, collectively representing over USD 18 trillion in
institutional capital, use GRESB data and analytical tools in their investment management and
engagement process, with a clear goal to optimize the risk/return profile of their investments.

                                                                           3rd DACH INFRASTRUCTURE
                                                5                          OPEN SPACE 2018
                                                                           Munich, 25 October 2018
Speakers and Moderators

                                                      Head of
                                                                                            Head of Business
                  Associate,                          Infrastructure
                                                                                            Development,
                  GRESB                               Debt Team,
                                                                                            Circuitus Capital
                                                      MEAG

Kate Archer                         Thomas Bayerl                      Felipe Carvalho

                  Founder and                                                               Head of
                  Managing                            Cartesius                             Infrastructure and
                  Partner,                            Group                                 Rail Team,
                  Ancala                                                                    HSH Nordbank

Spence Clunie                       Dr. Gregor Kirstein                Dr. Marcus Kleiner

                  Head of                                                                   Independent
                  Infrastructure,                                                           Investor and
                  Uniqa                               AREAM                                 Advisor,
                  Insurance                                                                 Greentech
                  Group                                                                     Capital Advisors

Dimitar Lambrev                     Patrick Lemcke-Braselmann          Jim Long
                                                      Executive,
                                                      Capital
                  Managing                            Raising &
                  Partner,                            Business                              Founder,
                  Stafford                            Development                           Finadvice
                  Capital                             Team,
                                                      Climate Fund
                                                      Managers
Dr. Ingo Marten                     Darren Moens                       Hans Poser

                  Head of
                                                      Head of                               Founding Partner,
                  Infrastructure,
                                                      Transactions                          Sequoia
                  Golding                             Team,                                 Investment
                  Capital
                                                      Fontavis                              Management
                  Partners

Dr. Matthias Reicherter             Marc Schürch                       Greg Taylor

                  Managing
                  Director,
                  YIELCO
                  Investments

Dieter Weiss

                                                                           3rd DACH INFRASTRUCTURE
                                                 6                         OPEN SPACE 2018
                                                                           Munich, 25 October 2018
Agenda

25 October 2018
8:45 AM – 9:30 AM    COFFEE AND REGISTRATION

9:30 AM – 9:45 AM    DIOS 3 WELCOME AND OPENING KEYNOTE ADDRESS

                     GLOBAL INFRASTRUCTURE - KEY 2018 TRENDS TO WATCH &
                     OUTLOOK
                     Infrastructure assets have experienced one of the strongest allocation
                     increases of all asset classes in recent years. The keynote presentation
                     will provide a guide to 2018 global investment patterns in infrastructure
                     and discuss the near-term global and regional market outlook.
                        Investor allocations to infrastructure
                        Market conditions – Global capital flows and regional market
                         outlook
                        Structural changes through technology, demographics and the rise
                         of sustainability in infrastructure

                     Speaker: Hans-Peter Dohr, IC Institutional Capital

9:45 AM – 10:20 AM   PANEL SESSION

                     EUROPEAN INFRASTRUCTURE INVESTING 2018
                     Examining the key themes which have emerged around the investment
                     and management of infrastructure assets held by private sector
                     investors.
                        Global vs European infrastructure trends
                        How to deliver enhanced returns on low risk infrastructure assets
                        How to extract value from combining greenfield projects and
                         brownfield assets
                        How can rising stars compete against the established infrastructure
                         titans

                     Moderator: Dieter Weiss, YIELCO Investments
                     Panellists:

                     Felipe Carvalho, Circuitus Capital
                     Spence Clunie, Ancala Partners

                                                                  3rd DACH INFRASTRUCTURE
                                    7                             OPEN SPACE 2018
                                                                  Munich, 25 October 2018
10:20 AM – 10:50 AM   KEYNOTE PRESENTATION
                      LIQUIDITY SOLUTIONS IN INFRASTRUCTURE – A CLOSE LOOK
                      AT THE INFRASTRUCTURE SECONDARY MARKET
                      The transactions volumes in the infrastructure secondary market are
                      growing at a steady and increasingly rapid pace driven by the growth of
                      the primary infrastructure market, the need for liquidity and portfolio
                      restructurings. Infrastructure secondary investments provide investors
                      with differentiated access routes to quality fund and quality assets.

                      Speaker: Dr. Ingo Marten, Stafford Capital

10:50 AM – 11:20 AM   MORNING COFFEE AND NETWORKING BREAK

11:20 AM – 11:35 AM   KEYNOTE SPEECH

                      HOW TECHNOLOGY AND SERVICES ARE CHANGING THE
                      INFRASTRUCTURE MODEL
                      New Technologies such as battery storage, encryption software,
                      electric and autonomous vehicles are changing the way we build and
                      use infrastructure.
                      Increasingly new business models are emerging where assets are
                      bundled with technology and service to create service platforms — for
                      energy, for transport, for data. While these shifts may diminish the value
                      of asset ownership they create new business opportunities — which
                      come with different risks from traditional infrastructure. In addition, new
                      classes of infrastructure assets such as electric vehicle charging,
                      broadband fibre optic, and smart meters are emerging — which are
                      based on technology.
                      Are Infrastructure investors prepared to embrace technology risk and
                      new growth business models with service-based revenues? How far
                      should infrastructure managers go in actively managing assets to
                      exploit growth opportunities based on technology and services? Will a
                      shift toward big data and customer relationships shift infrastructure
                      investment toward technology and industrial players who possess the
                      tools to make infrastructure intelligent?

                      Speaker: Jim Long, Independent Investor and Senior Adviser,
                      Greentech Capital Advisors

                                                                3rd DACH INFRASTRUCTURE
                                     8                          OPEN SPACE 2018
                                                                Munich, 25 October 2018
11:35 AM – 12:00 PM   FIRESIDE CHAT

                      Tech & Infra

                      A fireside chat between Jim Long and Hans Poser of Finadvice

12:00 PM – 1:30 PM    NETWORKING LUNCH

1:30 PM – 1:45 PM     KEYNOTE PRESENTATION

                      THE CONDEMNED LIVE LONGER – HSH NORDBANK 2018
                         How a bank adapts to changing markets.
                         New business models for client solutions in corporate banking and
                          infrastructure finance.
                      Speaker: Dr. Marcus Kleiner, HSH Nordbank

1:45 PM – 2:30 PM     PANEL DISCUSSION

                      INFRASTRUCTURE DEBT – GLOBAL PERSPECTIVE AND DACH
                      INVESTOR EXPECTATIONS
                      Investment into infrastructure debt provides institutional investors with
                      the potential for long-dated stable cash flows which can be used to
                      match liabilities, provide a yield enhancement, which offers relative
                      value to corporate credit and diversify risk. However, private
                      infrastructure debt is a diverse market, covering a range of strategies
                      with differing credit risks, maturities, payment terms, regions and
                      sectors. The panel will discuss whether the current state of the
                      infrastructure debt market creates enough opportunities for debt
                      investors to justify the increased exposures.
                         Key aspects of the popularity of infrastructure debt with
                          institutional investors
                         Comparing senior and mezzanine infrastructure debt strategies
                         Investor allocations to infrastructure
                         Transaction values versus fundraising

                      Moderator: Hans-Peter Dohr, IC Institutional Capital
                      Panellists:
                      Thomas Bayerl, MEAG
                      Dr. Marcus Kleiner, HSH Nordbank
                      Dimitar Lambrev, Uniqa Insurance Group
                      Greg Taylor, Sequoia Investment Management

                                                               3rd DACH INFRASTRUCTURE
                                     9                         OPEN SPACE 2018
                                                               Munich, 25 October 2018
2:30 PM – 3:45 PM   SUSTAINABLE AND RESILIENT INFRASTRUCTURE

2:30 PM – 2:45 PM   PART I - KEYNOTE SPEECH

                    GROWING A CULTURE OF SUSTAINABLE & IMPACT INVESTING
                    IN GERMANY …. AND WHY SUSTAINABLE AND RESILIENT
                    INFRASTRUCTURE SHOULD BE A PRIORITY
                    There is a growing and strong interest among individuals in seeing that
                    their savings and investments do social good AND produce a financial
                    return. The financial services industry, businesses, social enterprises
                    and charities are crucial partners in delivering a society that works for
                    all citizens. Large amounts of capital are looking for productive
                    investment opportunities, on the other hand, there are many areas
                    where generating positive social outcomes needs investment at scale.
                    Infrastructure is such an area.

                    With rapid global population growth, increasing urbanisation, traffic
                    congestion, parking difficulties and air and water pollution, high-
                    performing green infrastructure, provides real economic, ecological,
                    and social benefits. Ensuring that the transport networks, energy
                    networks, and waste and water facilities in demand across the globe will
                    reduce carbon emissions and be socially inclusive. Integrating green
                    infrastructure into investment portfolios must be a priority.
                    Speaker: Hans-Peter Dohr, IC Institutional Capital & Supporter of the
                    Social Impact Investing Implementation Taskforce

2:45 PM – 3:10 PM   PART II - KEYNOTE PRESENTATION

                    GRESB INFRASTRUCTURE - INTRODUCTION, RESULTS AND
                    SUSTAINABILITY TRENDS FROM THE 2018 INFRASTRUCTURE
                    ASSESSMENT.
                    GRESB provides insights into the ESG performance of infrastructure
                    portfolios across the world.
                    Speaker: Kate Archer, GRESB

3:10 PM – 3:45 PM   PART III – FIRESIDE CHAT

                    CROSSING THE BRIDGE – THE GROWING IMPORTANCE AND
                    ROLE OF SUSTAINABLE INVESTMENTS IN INFRASTRUCTURE
                       What is responsible investment in infrastructure?
                       Implementing sustainable investment related policies and
                        processes and assessing the impact of ESG issues for
                        infrastructure investments
                       Understand and evaluate infrastructure investment managers’
                        approaches to integrating material environmental, social and
                        governance (ESG) factors into their investment practices

                                                              3rd DACH INFRASTRUCTURE
                                  10                          OPEN SPACE 2018
                                                              Munich, 25 October 2018
   Is sustainable and responsible investing delivering value (financial,
                        social and environmental returns) or is it just a way to manage risk
                       Outlook: Can Sustainable Infrastructure become a new asset class
                    Moderator: Hans-Peter Dohr
                    Guests:

                    Kate Archer, GRESB
                    Dr. Matthias Reicherter, Golding Capital Partners

3:45 PM -4:15 PM    AFTERNOON COFFEE AND NETWORKING BREAK

4:15 PM – 5:00 PM   PANEL DISCUSSION

                    GLOBAL ENERGY & RENEWABLE ENERGY PERSPECTIVE –
                    CHANGING LANDSCAPE AND OPPORTUNITY SET

                    Global energy markets are affected by several countering trends.
                    Population and income growth continue to boost energy demand, but
                    global energy demand decelerates. The energy transition is shaking up
                    the global energy system leading to the need to align the energy
                    intensity of the global economy and the global fuel mix, including the
                    rapid deployment of clean energy technologies and the growing
                    electrification of energy. The decline in renewables’ cost accelerates
                    further, out-competing new-built fossil capacity in the short to medium
                    term.

                       Which factors will play the dominant role and have most impact on
                        global energy
                       European energy and climate policy - has the consistency of the
                        political and regulatory framework improved
                       Repowering America
                       Current state of the balance between capital flows, sourcing of
                        assets, pricing discipline and risk
                       Where do investors find new value pools in the energy system

                    Moderator: Dr. Gregor Kirstein, Cartesius Group

                    Panellists:
                    Patrick Lemcke-Braselmann, AREAM
                    Darren Moens, Climate Fund Managers
                    Marc Schürch, Fontavis

5:00 PM             WRAP UP OF THE DIOS 3 EVENT AND FAREWELL DRINKS
                    RECEPTION

                                                             3rd DACH INFRASTRUCTURE
                                  11                         OPEN SPACE 2018
                                                             Munich, 25 October 2018
Kate Archer

Company Profile

GRESB is an investor-driven organization that is transforming the way we assess the environmental,
social and governance (ESG) performance of real assets globally, including real estate portfolios and
infrastructure assets. Over 75 institutional investors, collectively representing over USD 18 trillion in
institutional capital, use GRESB data and analytical tools in their investment management and
engagement process, with a clear goal to optimize the risk/return profile of their investments.

Short Biography

Kate is an Associate at GRESB, focussing on the implementation and development of the GRESB
Infrastructure Assessment. Previous to joining GRESB, Kate worked within the Project Finance team at
SMBC (London) and Commercial Banking team at ASB (NZ). Kate holds a bachelor’s degree in Finance,
Economics and Business Law from Otago University.

                                                                          3rd DACH INFRASTRUCTURE
                                                12                        OPEN SPACE 2018
                                                                          Munich, 25 October 2018
Thomas Bayerl

Company Profile

MEAG is one of the world’s leading asset managers with around EUR 250 billion in assets under
management (figures correct as at 31 March 2018). Part of the Munich Re Group, the company provides
solutions to institutional investors and partners based on active portfolio management. Its clients benefit
from its risk-controlled investment approach and many years’ investment expertise. Numerous awards
for the MEAG investment funds from high-profile rating agencies demonstrate just how successfully
MEAG operates on the European and international investment markets.

It manages the assets of its own group in accordance with the principle of delivering steady returns while
keeping a handle on risk. This investment philosophy dovetails with the business purpose of, in particular,
insurers, pension schemes, pension funds, church organisations, foundations, municipalities and
industrial companies – in other words, any entity seeking to at least preserve their capital and generate a
predictable return.

Short Biography

Thomas Bayerl started his career in August 2004 as Portfolio Manager for structured products at
Landesbank Baden-Württemberg (LBBW) after he finished successfully his studies of Mathematics.
End of 2005 Thomas left LBBW und joined HSH Nordbank London Branch for nearly three years as
Portfolio Manager for structured credit. Since October 2008 Thomas is working for MEAG the asset
manager for MunichRe and Ergo Insurance located in Munich. During his activity as Portfolio Manager for
ABS/MBS and Corporate Debt, Thomas established the asset class Infrastructure Debt – target allocation
€6 bil. - within the MEAG investment universe. Since 2014 he is heading the Infrastructure Debt team
which consists out of 10 Investment Managers.

                                                                            3rd DACH INFRASTRUCTURE
                                                 13                         OPEN SPACE 2018
                                                                            Munich, 25 October 2018
Felipe Carvalho

Company Profile

Circuitus Capital is an independent alternative asset management firm headquartered in London and
specialised in infrastructure equity investments mainly focused on Europe. Circuitus Capital seeks to
deliver attractive risk-adjusted returns with an investment strategy focused on value creation and
downside risk mitigation. The Circuitus Capital team has extensive experience in infrastructure, asset
management and finance. The firm is focused on sourcing assets mainly through public tenders or
exclusive negotiations and offers superior deal origination capabilities in Europe and Latin America via
the local presence of its Industrials Partners in over 25 countries.

Short Biography

Felipe is responsible for all fundraising and investor relations activities at Circuitus Capital, based in the
London office. Most recently he was Board Member and Chief Financial Officer of AMS, a Silicon Valley
based environmental technology company, where he led its fund raising and international business
development activities. Felipe has previously held senior positions with Macquarie Group and BTG
Pactual, where he built extensive global experience investing in the infrastructure, utilities, renewables
and resources sectors. Felipe has a MSc degree in Finance and Economics with distinction from the
London School of Economics and a BA degree in Economics with highest honors from Insper in São
Paulo.

                                                                              3rd DACH INFRASTRUCTURE
                                                  14                          OPEN SPACE 2018
                                                                              Munich, 25 October 2018
Spence Clunie

Company Profile

Ancala Partners is an independent infrastructure investment manager. The firm has over €1.1 billion of
funds under management and focuses on mid-market infrastructure investments in Europe. Ancala’s
investment team combines experienced infrastructure investors with operational leaders who have a
strong track record of de-risking business and improving cashflow. Ancala provides investors enhanced
returns from core and core+ infrastructure investments from pro-active sourcing and active asset
management.
Ancala is currently raising its second infrastructure fund. The fund held a first close in July 2018.

Short Biography

Spence Clunie, Founder and Managing Partner of Ancala Partners, has 24 years infrastructure investment
experience. Ancala focuses on mid-market infrastructure investments in Europe and has over €1.1 billion
of funds under management. Ancala is currently raising its second mid-market infrastructure fund.

                                                                              3rd DACH INFRASTRUCTURE
                                                  15                          OPEN SPACE 2018
                                                                              Munich, 25 October 2018
Hans-Peter Dohr

Company Profile

ICA (www.ic-ica.com) provides investment advisory and capital raising services and delivers unique,
exclusive investor events.

The focus of the firm lies on tailor-made investment solutions in the private equity, private debt,
infrastructure and real estate sectors. Our clients benefit from the strength of our global private markets
platform through our co-operation with Pavilion Alternatives Group.

In addition to that, ICA helps raising funds for alternative investment firms. The firm takes on a limited
number of assignments each year, preferring to work on a tailored basis with each mandate specified and
executed to best suit its client.
ICA is owner-managed and headquartered in Munich/Germany.

Short Biography

Hans-Peter Dohr is founder of ICA. He has over 30 years of investment and finance experience, including
board positions at state investment holding companies and infrastructure investment funds. Prior to
founding ICA, he served as head of advisory at DC Placement Advisors, one of the leading European
private markets advisory firms. Earlier in his career, he worked for multiple groups within investment
banking at Fox-Pitt, Kelton, Salomon Brothers, Credit Lyonnais and Chase Manhattan Bank as well as
the Ministry of Finance and the State Development Bank in Austria. Hans-Peter Dohr holds a master’s
degree in Business Administration from the Vienna University of Economics and Business.

                                                                            3rd DACH INFRASTRUCTURE
                                                 16                         OPEN SPACE 2018
                                                                            Munich, 25 October 2018
Dr. Gregor Kirstein

Company Profile

Cartesius is an advisory firm serving the alternative energy and infrastructure sectors as well as alternative
investment managers. Our primary businesses are Corporate Finance Advisory and Placement Agent
Services.
As a corporate finance advisor, we work with corporations and project sponsors from the energy and
infrastructure industry to focus on renewable energy projects.

In our Placement Agent practice, Cartesius represents a selected group of alternative investment manager
in the Real Assets, Private Equity and Private Debt space.

Cartesius is management-owned and independent. The team has many years of experience in energy,
infrastructure, consulting, investment banking and research.

Short Biography

Gregor Kirstein has long-term experience in energy finance. Gregor started his career as a management
consultant in Cap Gemini’s energy practice. Between 2006 and 2010 Gregor covered energy, renewable
energy and CleanTech as a sell-side analyst for Sal. Oppenheim. During his tenure at Sal. Oppenheim
Gregor was involved in numerous corporate finance projects in the energy sector. Since 2010 Gregor has
been exclusively focused on corporate finance projects, working for KBR Finance in Frankfurt and
Capstan Capital Partners in London. Gregor holds a PhD in business administration from the University
of Duisburg-Essen where he worked as post-grad at the Institute for Energy Economics.

                                                                              3rd DACH INFRASTRUCTURE
                                                  17                          OPEN SPACE 2018
                                                                              Munich, 25 October 2018
Dr. Marcus Kleiner

Company Profile

HSH is one of Germany’s leading project financing banks, especially in the key focus sectors Infrastructure
& Energy. In both areas, HSH holds a significant market share in Europe and works in close corporation
with institutional investors and other syndicate partners in various forms: direct loans, cash & non-cash
risk sub-participation, club deals and fund-based financial arrangements.

HSH offers many years of experience in the financing business, good market access and extensive
origination know-how. HSH has a close network in the European market and reliable customer
relationships based on partnerships. Within the Infrastructure sector HSH provides support to projects in
the rail, road, port, airport, social and public projects as well as telecommunications and energy
infrastructure sectors. Overall the relevant team closes around 20 transactions per year in these sectors.
The volume of the Infrastructure & Logistic Portfolio comprises EUR 1.9 bn.

Short Biography

Dr. Marcus Kleiner is heading HSH Nordbank’s Infrastructure & Rail team based in Hamburg since June
2011. Marcus and his team are responsible for all of HSH Nordbank’s activities in infrastructure including
inter alia airports, sea ports, rail infrastructure, roads, rail assets, storage, networks and PPP projects.
Focus of HSH Nordbank’s activities is Europe. Marcus has a long-term project finance background and
he has been responsible for UniCredit’s Transportation & PPP activities for 15 years successfully closing
more than 150 transactions including selected ones which received deal of the year awards since 2001
on an ongoing basis.
Marcus studied economics, politics and history at the universities of Tübingen, Paris and Munich. In
Munich he worked as assistant professor and made a doctor grade in political science. Thereafter he
worked for Bayerische Vereinsbank AG and its successors in various functions. Since 1993 he has been
part of the banks project finance team with managing responsibilities since 1996.

                                                                            3rd DACH INFRASTRUCTURE
                                                 18                         OPEN SPACE 2018
                                                                            Munich, 25 October 2018
Dimitar Lambrev

Company Profile

The UNIQA Group is one of the leading insurance groups in its core markets of Austria and Central and
Eastern Europe (CEE). The group has approximately 40 companies in 19 countries and serve more than
10 million customers. Together with Raiffeisen Versicherung, UNIQA has the two strongest insurance
brands in Austria and is well positioned in the CEE markets. The company operates in all lines of insurance
and currently has 21,300 UNIQA employees and employees of the general agencies working exclusively
for UNIQA, approximately 5,000 of whom work in Austria. UNIQA Capital Markets is an investment firm
which is responsible for the asset management activity of the group's subsidiaries. Currently the firm has
approximately EUR 20bn of AuM across various asset classes and geographical regions.

Short Biography

Dimitar Lambrev joined UNIQA Insurance Group in February 2015. Dimitar is based in Vienna and is
responsible for leading UNIQA’s global infrastructure activities. Within his current role, Dimitar is
responsible for the origination, structuring and execution of infrastructure debt products across the
transportation, social infrastructure, communication and energy sectors.

Dimitar offers more than 15 years of relevant experience in the industry having previously worked in
project finance, private equity and real estate projects across Europe and North America.

At the beginning of his career, Mr. Lambrev worked in the United States where he held various positions
in the banking sector with primary focus on underwriting, originating, and executing project/commercial
debt financings in the U.S. Mid-West market. Prior to joining UNIQA, Dimitar worked at Strabag AG where
he was responsible for raising equity and arranging debt finance for the infrastructure projects worldwide
as well as the asset management of the infrastructure portfolio.
Dimitar earned a Bachelor of International Economic Relations and graduated with a master’s degree in
international Banking and Finance from the Vienna University of Applied Sciences. Mr. Lambrev is
currently a PhD-candidate in the space of capital market financing for infrastructure investments.

                                                                            3rd DACH INFRASTRUCTURE
                                                 19                         OPEN SPACE 2018
                                                                            Munich, 25 October 2018
Patrick Lemcke-Braselmann

Company Profile

AREAM is one of the leading independent fully integrated investment and asset managers with a focus
on sustainable energy infrastructure investments for institutional investors with over 10 years of
investment and management experience. AREAM has offices in Germany, Italy and UK and manages
solar and wind assets with a value of more than 850 million Euro.

Short Biography

Patrick joined AREAM Group in 2009 and has successfully led over 20 renewable energy projects as well
as selected advisory mandates. He has over 15 years of experience in investment and transaction
management as well as financing. Before joining AREAM, Mr. Lemcke-Braselmann has worked at
Fortress Investment Group, Dresdner Kleinwort Wasserstein and UBS. Patrick holds a degree in Business
Management (BWL) from the European Business School in Oestrich-Winkel.

                                                                       3rd DACH INFRASTRUCTURE
                                               20                      OPEN SPACE 2018
                                                                       Munich, 25 October 2018
Jim Long

Short Biography

Jim Long is an independent investor and advisor as well as a Senior Advisor at Greentech Capital Advisors
(GCA), a boutique advisory firm focused on sustainable infrastructure. He has over 25 years of experience
as an adviser and investor across the power, energy, infrastructure, environmental, and technology
sectors. Jim was formerly a Partner at GCA where he has worked closely with companies and investors
to identify strategic opportunities in global markets. He has a wealth of cross-border transaction
experience, helping both larger corporations optimize their business portfolios and leading growth
companies toward value-added partnerships with leading companies and investors, utilizing a full range
of capital and financing alternatives in support of client objectives.
Prior to joining GCA, Jim was a Managing Director at Ecofin, a leading specialist investor in utilities,
renewable energy, and infrastructure. He led the private equity and infrastructure investment activities
with over $500 million invested across wind, solar, water, and related sectors and over $750 million in
realizations.
Prior to Ecofin, Jim spent 12 years at Citigroup in London in a number of roles, most recently as co-
Chairman of Global Power and Utilities Investment Banking.

Jim has a Dual Degree in Economics (Wharton School) and English from the University of Pennsylvania.
He holds both a Master of Philosophy and Master of Studies in Modern History from Oxford University,
where he was also a tutor. He is a dual French and American national and speaks French, Spanish, and
Italian.

                                                                          3rd DACH INFRASTRUCTURE
                                                   21                     OPEN SPACE 2018
                                                                          Munich, 25 October 2018
Dr. Ingo Marten

Company Profile

Stafford Capital Partners is a leading private markets investment and advisory group with a global
presence and $5.4 billion under management and advice.

Stafford works with a wide range of institutions to deliver returns through active investing across private
markets segments such as infrastructure, timberland, agriculture, private debt, green growth private
equity, and venture.

The company works diligently and creatively to find the best investment opportunities across a range of
market sectors. Stafford is owned entirely by its principals - principals who have spent their careers
investing in the private markets on behalf of clients with relationships spanning decades. While
underpinned by investment performance, Stafford supports clients with complete integrity, open
communication and a philosophy of responsible investing.

Short Biography

Dr. Ingo Marten is Managing Partner for Stafford’s infrastructure activities based in Zurich. Ingo has over
fifteen years of principal investment experience in both direct and fund transactions. Ingo bolsters
Stafford’s regional European capabilities and his substantial sector expertise in clean technology and low-
carbon infrastructure complements Stafford's global sustainable capital team.
Ingo joined Stafford from Macquarie where he was responsible for the launch and management of the
infrastructure secondary fund activities as well as the European aspects of Macquarie’s sustainable capital
investment activities. Both of these activities have been transferred to Stafford in 2014.

Prior to joining Macquarie, Ingo was Director in Alternative Investments at Swiss Re, responsible for the
development and management of its sustainability- and infrastructure-focused portfolio. Prior to Swiss Re,
Ingo worked in Corporate & Strategy Development at UBS.
Ingo holds a PhD (magna cum laude) in Business Administration from the University of Fribourg
(Switzerland).

                                                                            3rd DACH INFRASTRUCTURE
                                                 22                         OPEN SPACE 2018
                                                                            Munich, 25 October 2018
Darren Moens

Company Profile

Climate Fund Managers (CFM) is a leading fund manager dedicated to securing a sustainable future
through impactful investing across global emerging markets. CFM is established as a joint venture
between the Netherlands Development Finance Corporation (“FMO”) and Sanlam Infraworks, both of
which have extensive track records in emerging market renewable energy infrastructure investment. CFM
manages Climate Investor One (“CIO”) which is a blended finance facility with a mandate to invest in utility
scale renewable energy projects ranging from 25-100 MW in emerging markets. CIO was founded after
winning the 2015 Global Innovation Lab for Climate Finance and benefits from the support of leading
public and private sector institutions which make up its investor base. CIO consists of two funds: (i) a
Development Fund to work with developers to bring early stage renewable projects to financial close; and
(ii) a Construction Equity Fund which finances the construction of renewable energy projects on an all
equity basis. Total commitments to CIO are in excess of USD 500 mln. CFM manages all investments
through CIO with regional investment teams in Singapore and in Nairobi, Kenya.

Short Biography

Darren is an Executive in the Capital Raising & Business Development team at Climate Fund Managers,
responsible for structuring a blended finance investment vehicle which directs funds from commercial
investors, development banks and public institutions into climate investments in emerging markets. Prior
to joining Climate Fund Managers Darren spent six years in the renewable energy investment team at the
Netherlands Development Finance Corporation (FMO), covering eastern Africa and south Asia.

                                                                            3rd DACH INFRASTRUCTURE
                                                 23                         OPEN SPACE 2018
                                                                            Munich, 25 October 2018
Hans Poser

Company Profile

Finadvice Zürich is focused on M&A consulting in the utility sector. In addition to municipal transactions
and conventional power stations, Finadvice frequently advises on transactions in the renewable energy
field. This includes the structuring of cooperative or transactional structures, the management of M&A
projects, due diligence, profitability calculations and contract negotiations. Furthermore, our office in
Zurich is especially skilled in power plant optimization, management consulting for the supply sector, price
forecasts as well as energy management risk management.

Short Biography

Hans is one of the founders of Finadvice. He has extensive deal experience in Germany, France and
Switzerland, and in particular is specialized in advising clients in the utility and waste management sector.
While working at UBS, Hans was Vice President of the European utilities team and provided M&A and
strategic advice. Prior to that he was a Project Leader in the Energy and Utilities Practice Group of BCG.
Hans holds an ME from TU Berlin and a DESCAF (similar to MBA) from Toulouse Business School. His
clients are mainly Swiss, German and French utility companies and international investors. Not to mention
he also sits on the advisory council at Yielco and Luftmeister GmbH.

                                                                             3rd DACH INFRASTRUCTURE
                                                  24                         OPEN SPACE 2018
                                                                             Munich, 25 October 2018
Dr. Matthias Reicherter

Company Profile

Golding Capital Partners is one of the leading independent asset managers for private equity, private debt
and infrastructure in Europe. With innovative investment solutions and competent advice, we help
institutional investors to build a sustainably successful investment strategy. Our client base is made up of
more than 150 institutional investors including insurance companies, pension funds, foundations and
banks, especially savings banks and cooperative banks. With our team of about 80 employees we are
responsible for assets under management over € 7.0 bn.

Our range of products and services extends from funds of funds to individual alternative investment
structures (managed accounts) and advisory services. Our solutions always meet the particular tax and
regulatory specifications of institutional investors.

Short Biography

Dr. Reicherter looks back on more than 15 years of investment experience, which he gained working
internationally for banks and investment organizations as well as in his prior role as Head of Infrastructure
at Golding Capital Partners. Prior to joining Golding Capital Partners, Dr. Reicherter was a Director with
Barclays Private Equity and Infrastructure Funds in London, as well as with DEPFA Bank plc in London
and Dublin, were he focused on the acquisition, financing and asset management of infrastructure
companies in Europe and North America.
Dr. Reicherter graduated in Economics from the University of Augsburg and completed a doctorate in
Corporate Finance at the University of Greifswald.

                                                                             3rd DACH INFRASTRUCTURE
                                                   25                        OPEN SPACE 2018
                                                                             Munich, 25 October 2018
Marc Schürch

Company Profile

Fontavis is an owner-managed, independent fund manager who delivers sustainable returns from direct
investments in clean energy and infrastructure assets. As a FINMA-regulated asset manager of collective
investment schemes, the company manages assets in excess of CHF 750 million, including two
infrastructure funds launched with UBS and the most recently launched Fontavis Renewables
Infrastructure Fund Europe, a subfund of Fontavis SCS SICAF-RAIF in Luxembourg. The investment
portfolio currently comprises around 20 investments in Switzerland and Northern and Western European
countries. The aim is to achieve stable and market-independent returns through investments in clean
energy and infrastructure facilities and to achieve a positive and sustainable impact on investments with
regards to ESG sustainability criteria. The company has an extensive network and has established itself
as a reliable partner for investors, energy suppliers, project developers and the public sector.

Short Biography

Dr. Marc Schürch is heading the Transactions team at Fontavis. He has over 10 years of experience in
M&A, investment management and consulting for energy companies. Most recently, he was a member of
the founding team of Credit Suisse Energy Infrastructure Partners AG, where he also led the transaction
team. In this role, he led, among other mandates, the transactions to acquire sub-participations in the
Swiss electricity transmission system operator and the purchase to acquire a 40% stake in the largest
European wind farm in Norway. Previously, he was an Associate Partner at The Advisory House AG, a
consulting firm specializing in the energy industry. His clients included Swiss and international energy
utilities as well as public authorities, which he advised on strategic, financial and organisational issues.
Marc received a doctorate in international business of HSG in St. Gallen.

                                                                            3rd DACH INFRASTRUCTURE
                                                 26                         OPEN SPACE 2018
                                                                            Munich, 25 October 2018
Greg Taylor

Company Profile

Sequoia Investment Management Company is a specialist in infrastructure debt asset management. The
London based company was founded in 2010 with current assets under management (AUM) of £1.087
billion. The company is focused on delivering top risk-adjusted returns to our investors. Sequoia’s directors
are seasoned capital markets and investment professionals with 20-25+ years of experience each.

Short Biography

Greg Taylor is a founding partner of Sequoia Investment Management Company and is one of two
Portfolio Managers at the company. Sequoia is investment advisor to two infrastructure debt funds: The
Sequoia Economic Infrastructure Income Fund (“SEQI”) launched March 2015 with a market cap of
approximately £1.17 billion and the Sequoia Infrastructure Debt Fund (“IDF”) that launched July 2017 and
has AUM of approximately €90 million. Mr. Taylor has been working in infrastructure debt for more than
30 years in the United States and Europe. He began his investment banking career in the U.S. municipal
bond market at PaineWebber before working in London for Moody’s, Merrill Lynch and UBS prior to
founding Sequoia in 2010. Mr. Taylor’s experience spans the full range of infrastructure assets including
airports, toll roads, rail lines, student housing, fibre optic cables, renewables, regulated utilities and rolling
stock.

                                                                                 3rd DACH INFRASTRUCTURE
                                                    27                           OPEN SPACE 2018
                                                                                 Munich, 25 October 2018
Dieter Weiss

Company Profile

YIELCO Investments AG was founded in 2011 with a focus on Infrastructure, Private Debt and Private
Equity. The management team has extensive experience in the alternative investment space with the
founding partners working in the alternative industry since the end of the nineties. Currently the company
service assets of approximately € 2.7bn across these 3 asset classes (mainly for well-known German
institutional investors) with a team of 25 investment professionals. The company offers to its clients
discretionary Fund of Fund products as well as tailor-made managed accounts solutions (including
investment advisory).

Short Biography

Dieter Weiss has been managing director of YIELCO Investments AG since 2016. As co-head of
infrastructure, he shares the responsibility for YIELCO’s infrastructure practice. Until 2016, Dieter Weiss
was finance director with TransnetBW GmbH, Stuttgart. TransnetBW GmbH is a subsidiary of EnBW AG
and operates the electricity transmission network in Baden-Württemberg. Dieter Weiss was responsible
for the controlling, corporate planning, accounting and risk management of the company. Prior to this, he
worked in various functions (M&A, equity capital markets and infrastructure investments) in the financial
industry. Dieter Weiss is a Diplom-Kaufmann (University of Regensburg) and has a master’s degree from
St. Andrews University, UK.

                                                                            3rd DACH INFRASTRUCTURE
                                                 28                         OPEN SPACE 2018
                                                                            Munich, 25 October 2018
Location

Event Venue                         Meeting Room

   Sofitel Munich Bayerpost           BOARDROOM B
   Bayerstrasse 12                    A magnifique meeting room on the hotel's
    80335 Munich, Germany               fifth floor for exclusive business events
    Tel.: (+49)89/599480
    Fax: (+49)89/599481000

                                                       3rd DACH INFRASTRUCTURE
                               29                      OPEN SPACE 2018
                                                       Munich, 25 October 2018
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