Vontobel has acquired a minority stake in Ancala to support its growth strategy in the infrastructure sector while maintaining operational independence.

Target Information

Ancala, a prominent independent infrastructure manager established in 2010, has successfully implemented a consistent investment strategy aimed at delivering enhanced returns from its portfolio. The firm specializes in identifying unique bilateral investment opportunities, ensuring downside protection while linking to inflation and providing strong cash yields. Ancala’s differentiated approach has facilitated the creation of sustainable value across its portfolio companies.

As of now, Ancala manages assets totaling over €4 billion across 18 investments in essential infrastructure sectors such as renewable energy, energy transition, transportation, utilities, and the circular economy. The firm's proactive asset management is supported by a seasoned team that includes industry partners, former executives from major infrastructure entities, enhancing its capacity to drive value creation.

Industry Overview in the Target Country

The infrastructure industry in Europe is undergoing significant transformation as the demand for sustainable and energy-efficient projects increases. Critical infrastructure sectors such as renewable energy and utilitie