Division

United Kingdom

Table 10

Benchmark infrastructure transactions

Source: UK submission ‘Answers to the Commission's questions received 16 September 2014’ based on Fund websites, Preqin, Press releases. Note: Fund target IRRs shown gross of fees and expenses. Exchange rates used: GBP EUR: 1: 1,26, GBP CAD: 1: 1,81. HPC post-tax nominal equity IRR used for comparison purposes. Borealis target IRR: 9 – 12 per cent, First State EDIF target IRR: 10 – 15 per cent.
Sponsor	Antin Infrastructure Partners	CDP Capital	Brookfield Renewable Energy Partners	Borealis,First State EDIF
Fund Target Equity IRR	15 %	16 %	9 – 12 %	9 – 15 %

Source: UK submission ‘Answers to the Commission's questions received 16 September 2014’ based on Fund websites, Preqin, Press releases. Note: Fund target IRRs shown gross of fees and expenses. Exchange rates used: GBP EUR: 1: 1,26, GBP CAD: 1: 1,81. HPC post-tax nominal equity IRR used for comparison purposes. Borealis target IRR: 9 – 12 per cent, First State EDIF target IRR: 10 – 15 per cent.

Sponsor

Antin Infrastructure Partners

CDP Capital

Brookfield Renewable Energy Partners

Borealis,First State EDIF

Fund Target

Equity IRR

15 %

16 %

9 – 12 %

9 – 15 %