Amber has been at the forefront of developing, financing and investing in public infrastructure in developed countries since 2009. Our businesses and the teams that manage them, have a history of working together extending back to 1998.

We're home to one of the largest, most experienced teams of professionals dedicated to this field today. We never stop evolving our approach to real assets. This way we make the most of growing opportunities within new sectors including sustainable energy, real estate and more. See more about our history below. 



  • Net Asset Value of INPP grew to £2.0bn at 31 December 2017 (2016: £1.6bn)
  • Full-year dividend increase of c.2.5% to 7.00 pence per share (31 December 2017: 6.82 pence per share)
  • During 2018, £116 million of new capital was raised
  • Amber sourced investments and commitments for INPP of c.£105m during the year including:
    • £46.2m investment into Dudgeon Offshore Transmission Project, UK
    • £35-40m commitment to acquire further interest in Cadent, UK
    • £1.6m additional commitment into Offenbach Police Centre, Germany
    • £1.7m additional investment into Hertfordshire Building Schools for Future (‘BSF’) project, UK
    • £0.6m final investment into the second stage of Gold Coast Light Rail, Australia
    • £14.8m investment into digital infrastructure via the National Digital Infrastructure Fund
  • Since listing in 2006 to 31 December 2018, the Company has generated a Total Shareholder Return of 171.8%. This is equivalent to an annualised total shareholder return of 8.6%  since the Company listed in 2006 and ahead of the long-term target of 8% or greater

Scottish Partnership for Regeneration in Urban Centres (SPRUCE):

  • Secured an additional £25 million investment of Financial Transactions Capital from the Scottish Government
  • Signed the Cadworks transaction in central Glasgow, and successfully exited or partially exited transactions at the Guardbridge Energy Centre in Fife, Cube Housing Association in Glasgow, and Greenside in Edinburgh
  • Total funds under management are now £93 million and the total development value of transactions funded through SPRUCE is over £300 million

The London Energy Efficiency Fund (LEEF):

  • Grew its commitments to £89m during 2018
  • Supported three new energy efficiency projects in London
  • Reached the end of Investment Period having mobilised over £400m of third party funding
  • In total will save over 39,000 tonnes of CO2, the equivalent of taking 35,500 cars of the London’s roads

 The Mayor of London’s Energy Efficiency Fund (MEEF):

  • Launched at City Hall in July 2018 to an audience of over 150
  • Invested in two large scale energy efficiency projects being delivered under RE:FIT
  • Has committed over 25% of its ERDF funding
  • Selected as a blueprint by the European Commission from future Multi-Region Urban Funds

 National Digital Infrastructure Fund (NDIF):

  • Invested in four projects during 2018 comprising Community Fibre, Airband, Nextgenaccess Ltd and toob


During 2017, over £400 million of new capital was raised for International Public Partnerships (INPP).  Amber sourced investments and commitments for INPP of £465.5 million during the year including:

  • £274.0 million investment in Cadent gas distribution network (UK)
  • £87.0m additional investment into Reliance Rail PPP Project in Sydney, Australia
  • £78.2m follow-on investment in the Thames Tideway Tunnel (UK)
  • £20.8m follow-on investment was made into the Victoria Schools Project (Australia)

The 400 million National Digital Infrastructure Fund was established in July 2017.

The London Energy Efficiency Fund (LEEF):

  • Grew its commitments to £72m during 2017
  • Supported 1,600 construction and operations jobs and reduced annualised carbon dioxide emissions by 35,000 tonnes; the equivalent of talking 32,000 cars off the road
  • In 2017 LEEF recycled over £10m of its original commitments and will continue to invest further recycled funds during 2018

Scottish Partnership for Regeneration in Urban Centres (SPRUCE):

  • Secured an additional £15 million investment of Financial Transactions Capital from the Scottish Government
  • In 2017 SPRUCE signed an additional three transactions at Clyde Gateway East, Dalmore House and Greenside
  • Total funds under management are now £65 million and the total development value of transactions funded through SPRUCE is over £270 million


Committed or invested into more than £489m in 18 projects for INPP including:

  • Agreement to invest £275m in National Grid’s gas distribution network for a 4.4% stake
  • £26.8m investment in Westermost Rough offshore transmission
  • £72.3m investment to acquire interests in ten Building Schools for Future projects
  • Capitalising on unique primary access to the U.S. P3 market with a £24.6m investment in military housing

Successfully renegotiated INPP’s corporate debt facility from £300m to £400m and raised £200m of equity.

LEEF fund has over £60m of funds under management which will improve energy efficiency in over 76 public and private buildings across 9 London boroughs.


£311.7m of acquisitions and commitments on behalf of INPP including:

  • Thames Tideway Tunnel – investment commitment of up to £210m to be invested between 2015 and 2018
  • U.S. Military Housing – invested c.£32m into first U.S. infrastructure transaction
  • Priority School Building Programme Funding Aggregator – invested £36.3m to fund four ‘batches’
  • Victoria Schools – design, build, finance, operate and maintenance of 15 schools across 12 sites in the State of Victoria in Australia. Investment requirement of c.£17m

Raised £198m (before issue costs) of equity capital for INPP.

Successfully renegotiated INPP’s corporate debt facility renegotiated from £175m to £300m.


  • Circa £190m of investments made on behalf of INPP
  • Closed on £16m Townlands Community Hospital redevelopment, Henley-on-Thames
  • Secures £9.6m investment for The Haymarket Development, Edinburgh
  • Amber-led consortium appointed on the £700m Priority Schools Building 'Aggregator' Programme
  • £95m of equity raised for INPP


  • Raised c£47m of new capital for INPP
  • c£37m invested into projects for INPP
  • Liverpool Central Library & Archive reached construction completion in January and was officially opened to the public


  • Fifth offshore transmission project awarded and fourth offshore transmission project reached financial close
  • Additional investment in a portfolio of Building Schools for the Future projects made on behalf of INPP
  • Raised £200m of new equity for INPP


  • Three offshore transmission assets closed
  • Appointed as fund manager to three JESSICA funds
  • INPP £100m corporate debt facility renegotiated
  • INPP £52m of new equity issuedNew assets acquired during the year included:
    • Building Schools for the Future interest acquired – first secondary transaction for the fund
    • First UK offshore transmission projects: Robin Rigg, Barrow and Gunfleet Sands closed
    • Interest in Liverpool Library, UK
    • Interest in Gold Coast Rapid Transit, Australia
    • Eight NHS LIFT schemes, UK
    • Additional interest in Long Bay Forensic and Prison Hospital and Royal Melbourne Showgrounds, Australia
  • Net Asset Value of INPP grew by 3.4% to £624.3m at 31 December


  • Four Offshore transmission projects awarded
  • Awarded preferred partner to first JESSICA fund
  • Divestment of WISP assets
  • Advised INPP on £100m raised through tap issues, placement and open offer
  • Assets in the portfolio grow to 60. New assets acquired during the year included:
    • Three NHS LIFT projects based in London
    • Moray Schools, Scotland
    • Pforzheim Schools, Germany
    • Additional investment in BeNEX, the Company’s German rail operating business.
  • Net Asset Value of INPP grew by 29% to £541.9m at 31 December


  • Management buyout of Babcock & Brown PPP unit into Amber Infrastructure
  • BBPP renamed International Public Partnerships; Amber assumes role of fund Investment Advisor
  • Liverpool library project awarded
  • Moray Schools project in Scotland awarded
  • LIFT projects closed
  • Net asset value of INPP at 31 December £420.2m


  • Advised INPP on raising of £84m in additional equity via a C Share Offering
  • Advised and completed Angel Trains pathfinder acquisition from RBS
  • £100m corporate debt facility negotiated
  • Total number of assets in portfolio increases to 50. New assets acquired during the year included:
    • Stake in Brescia Hospital, Italy
    • Orange Hospital, Australia
    • Additional interest in Diabolo Rail, Belgium
    • Portfolio of NHS LIFT assets, UK
    • Royal Children's Hospital, Australia
    • Interest in Angel Trains, UK
    • Interest in schools projects, Canada and Wales


  • First North American deal closed
  • First project in Belgium awarded
  • First project in Ireland awarded
  • First project in France closed
  • Agreement signed for BeNEX rail joint venture, Germany
  • 40 transactions closed in total
  • INPP portfolio under management increases to 30 infrastructure assets including the following new assets:
    • Durham court complex, Canada
    • Interest in BeNEX rail, Germany
    • Dublin Criminal Courts, Ireland
    • Medicast Amiens Hospital, France
    • Portfolio of nine Australian schools
  • INPP net asset value at 31 December grew by over 7% to £330.4m


  • First Australian deal closed
  • Full listing of Babcock and Brown Public Partnerships (BBPP) (now called International Public Partnerships Limited, “INPP”) on London Stock Exchange raising £300 million
  • Initial portfolio of 23 PFI and other infrastructure assets with a net asset value of at 31 December £306.6m


  • 30 transactions closed
  • First European deal closed


  • 20 transactions closed


  • NHS LIFT Framework attained
  • Schools projects awarded
  • Construction completion on a number of assets


  • Fifth Health PPP Closed
  • Police Headquarters project awarded in Wales
  • Schools PPP Projects awarded


  • Portfolio refinanced
  • Balance sheet funding of projects
  • 10 transactions closed


  • First Health PPP Closed
  • First Courts PPP awarded
  • 4 other PPP transactions closed


  • First Training College PPP Closed


  • Team formed
  • Co-investment club established with US Private Investors
  • First two PPPs awarded