Queenspoint is a long term investment vehicle and asset manager which acquires, holds and actively operates middle market core infrastructure assets -in fields such as transport, energy, telecommunications, waste, water and others- largely under PPP contractual and risk allocation structures.
The company is owned on a 50/50 basis by insurance and financial services company Allianz SE (through its affiliate Allianz Infrastructure Spain HoldCo I, managed by Allianz Capital Partners) and by Denmark´s largest lifelong pension fund Arbejdsmarkedets TillægsPension (through its affiliate ATP Infrastructure Spain, managed by Bastion Infrastructure Group).
Queenspoint´s maiden investment was a bundle of four minority stakes in three operational transport PPP assets and a maintenance company, all acquired in 2015 (please refer to our Portfolio section for more details):
Metro Ligero Oeste (MLO), which operates two light rail lines in Madrid
Linia 9 Tram 4 (L9T4), which operates 13 stations of the L9 metro line in Barcelona
Linia 9 Tram 2 (L9T2), which operates 15 stations of the L9 metro line in Barcelona
Linia 9 Manteniment (L9M), which is the maintenance company for the two L9 PPPs in Barcelona
Allianz SE holds a 50% stake in Queenspoint, which is managed by Allianz Capital Partners (“ACP”), the in-house asset manager for alternative investments of the Allianz Group.
ACP focus on investing into private equity, renewables and infrastructure, and are located in Munich, London, New York and Singapore.
Due to their long investment horizon and attractive risk/return profile, ACP´s alternative investments are an ideal match for the requirements of Allianz insurance companies given their long-term liabilities.
ACP key figures (3 2017)
Please visit www.allianzcapitalpartners.com for more details.
ATP is a mandatory savings scheme with more than five million members, and holds a 50% stake in Queenspoint.
ATP's primary responsibility is to help ensure basic financial security and contribute to efficient welfare. To that end, ATP seeks to maximise investment returns for the benefit of pensioners receiving ATP Livslang Pension (Lifelong Pension).
ATP Lifelong Pension is guaranteed and lifelong and is disbursed to nearly all Danish pensioners. For 50 per cent of all old-age pensioners, ATP Lifelong Pension is their only source of pension income other than their state-funded old-age pension.
Besides ATP Lifelong Pension, ATP administers key welfare benefits and schemes on behalf of the Danish state, the local authorities in Denmark and Danish social partners. ATP is the largest administration provider in the Nordic countries, managing two thirds of welfare benefits disbursed in Denmark.
ATP Pensions & Investments manages ATP’s assets of more than DKK 753bn, which are invested in, for example, bonds, equities, real estate and infrastructure. Pension & Investments do this to ensure the highest pension benefits attainable, while avoiding needless risks.
ATP’s free reserves – the bonus potential – are managed in the investment portfolio, which is the basis for ATP taking on investment risk in the investment portfolio.
Return on ATP's investment is important, but it does not mean that ATP value return over social responsibility. On the contrary, responsibility is usually the precondition for long-term, healthy earnings.
ATP emphasise great importance acting as a responsible investor. Therefore, ATP invests only in companies that comply with national legislation and international conventions.
Please visit www.atp.dk for more details.
Bastion Infrastructure Group manages ATP´s 50% stake in Queenspoint.
Bastion is an independent investment management firm specializing in long-life, low-risk infrastructure assets. Their focus is on building portfolios of stable infrastructure assets that offer investors inflation-linked returns.
The Bastion team, led by Ron Lepin, has a long history of making successful investments through a variety of market environments. The senior investment professionals are experienced in leading complex deals in multiple markets and sectors. Bastion’s investment process is built around the experience that the team has in sourcing, analyzing and closing on investments, while Bastion´s asset management team works closely with portfolio companies to drive value and manage risk.
Please visit www.bastionfunds.com for more details.