Strategy

Megatrends & KeyInfrastructure Themes

The current market environment is characterised by multiple structural megatrends like decarbonisation, connectivity, electrification, and aging populations which are triggering strong growth potential and creating attractive investment opportunities for “value-add” infrastructure strategies.

Vesper Infrastructure Partners characterizes for an on-going structured monitoring of transformative megatrends and proactive identification of infrastructure companies benefiting from such forces. Megatrend acts as a strong catalyst for change and disruptions which are capable of triggering material growth potential across different industries and sectors of the economy. Therefore, Vesper focuses on the proactive identification of target companies active in key infrastructure segments / investment themes, which shows clear exposure to relevant megatrends and benefit from their growth and return generation potential.

In particular, Vesper Infrastructure Partners focuses on the following four megatrends and on those target companies that show a direct exposure to the strong growth and return generation potential triggered by such megatrends

Clean Energy and Electrification of the Economy

This megatrend is a multi-dimensional transformation creating investment opportunities in new energy value chains, including: (i) clean tech services for energy efficiency (e.g. ESCOs); (ii) intermittency solutions (e.g., battery storage, demand response platforms); and (iii) clean tech solutions for decarbonisation of specific sectors (e.g., eFuels, EV charging hubs).

Decarbonization of Mobility and Connected Logistic

Ongoing transformations in mobility are creating opportunities in logistics and heavy transports (biofuels, fleet charging networks); V2X connectivity (vehicle-to-everything) to improve safety and logistics; and Mobility-as-a-Service platforms and their enabling infrastructures (e.g., multipurpose urban charging and delivery hubs).

Secure , low latency digital Infrastructure

The rising cycle of data consumption creates demand for digital infrastructure. Relevant investment opportunities include: (i) broadband data networks; (ii) digital transmission; (iii) data centres; and (iv) digital twins (digital representations of physical assets for simulation, monitoring, and maintenance).

Circular solutions & sustainable infrastructure for healthy living

This megatrend is a multi-dimensional transformation creating investment opportunities in new energy value chains, including: (i) clean tech services for energy efficiency (e.g. ESCOs); (ii) intermittency solutions (e.g., battery storage, demand response platforms); and (iii) clean tech solutions for decarbonisation of specific sectors (e.g., eFuels, EV charging hubs).

FOUNDING PRINCIPLES

The Centrality of
Capital Protection

As the concept of the infrastructure assets evolves from the original notion of the asset class (which was mainly focused on fully regulated-availability based energy asset or concession based transport assets), to include a growing number companies active in multiple new sectors exposed to market competition (i.e. logistic platforms, TLC towers, health platforms), it has become of paramount importance to ensure that potential target companies maintain those robust capital protection features which were original characteristics differentiating the infrastructure asset class against pure play PE strategy.

Vesper Infrastructure Partners is committed to focusing on robust capital protection features ensuring that potential value-add targets maintain the intrinsic “infrastructure characteristics” and the type of “technology exposure” which are required to retain the appropriate risk-adjusted characteristics.

From an operational point of view, this means that each target opportunity is screened across three key dimensions to confirm its compatibility with the desired characteristics and targeted risk return profile:

01

Visibility and volatility of cash flows

Target companies should offer good visibility and stability of their medium-term cash flows (through a mix of contracted or subscription-based service revenue models, partial GDP-decorrelation of services offered and ability to pass through costs/ inflation)

02

Control for embedded technology risk

Megatrends are often driven by global shifts in technology, that have a pervasive and transformational impact across economies and industries and are capable of triggering together with growth potential also massive disruption risk of existing sectors/business models. Therefore, Vesper Advisory believes that it is essential to remain wary of technology risk by sourcing of targets that are naturally positioned on the “right side” of a technological megatrends and avoiding companies that rely on the adoption of commercially unproven/early-stage solutions.

03

Clear sustainability features, future proofing exit potential

Vesper Infrastructure Partners believe that environmental, social and governance factors (“ESG Factors”) represent a material driver of positive returns as well as the potential risks of the investments in the infrastructure industry. Therefore, we nurture a responsible and sustainable business culture, ensuring that ESG Factors are properly identified, assessed and incorporated into our decision-making process, with the aim to: (i) support the creation of sustainable businesses that can benefit the environment and society; and (ii) enable the generation of long term investment value and attractive returns by extension of the economic life of the target company,.

_Learn _Adapt _Protect _Improve

Industrial High
Performing Governance

This is an industrial, high-performance governance framework, whose operational implementation is guided by a value creation playbook which is used to bring discipline and accelerate the execution of the envisaged business transformation through a three-stage approach:

01

Assimilation

In the final phase, specific KPIs are defined for each value creation initiative. An internal PMO (Project Management Office) is established to drive execution by setting ambitious interim targets and tracking performance on a monthly basis. This structured, metric-driven approach ensures momentum, accountability, and measurable progress toward strategic goals.

02

Alignment

This phase centers on establishing an active and engaged Board, refining the value creation strategy based on Assimilation insights, and quantifying each initiative. Crucially, it aligns interests between shareholders & management through the implementation of a tailored management incentive program, which often requiring personal capital commitment from key executives

03

Acceleration

In the final phase, specific KPIs are defined for each value creation initiative. An internal PMO (Project Management Office) is established to drive execution by setting ambitious interim targets and tracking performance on a monthly basis. This structured, metric-driven approach ensures momentum, accountability, and measurable progress toward strategic goals.