Royal London announces Dalmore Capital acquisition

Royal London has reached an agreement to acquire UK-based infrastructure asset manager, Dalmore Capital, subject to regulatory approval.

Dalmore manages approximately £6bn of assets across five flagship funds.

The ownership of Dalmore and its asset servicing arm, Resolis, will transfer to Royal London Asset Management, while Dalmore will operate as a standalone infrastructure capability within Royal London Asset Management.

Royal London said the deal would support its strategy to broaden its private assets capabilities and provide customers with access to more investment options that support their retirement ambitions. As part of the acquisition, Royal London will commit up to £500m to future Dalmore funds.

Group CEO at Royal London, Barry O’Dwyer, commented: “By acquiring Dalmore, we can offer our individual and workplace pension savers access to the long-term, stable returns that infrastructure investments can potentially provide. Additionally, it demonstrates our commitment to invest in assets that support the UK’s drive for economic growth and an innovative, sustainable future.”

Dalmore specialises in long-term core and core plus infrastructure investments and has around 130 infrastructure assets in its portfolio, broadly diversified across different sectors. These assets are primarily in the UK, including the Thames Tideway Tunnel and 24 operational wind farms, but also cover Europe and Canada.

Royal London Asset Management CEO, Hans Georgeson, said: “This acquisition is a significant milestone in broadening our private assets capability to meet the changing needs of our clients. There is a strong strategic fit between the two businesses and a focus on investing in assets with broader societal and economic benefits.”

Dalmore Capital CEO, Michael Ryan, added: “We are delighted to be partnering with Royal London in the next stage of our growth. This transaction is a strong endorsement of the team at Dalmore, our track record, and the prospects for investing in UK infrastructure.”



Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.


Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.