DATE: February 12, 2025

CC&L Infrastructure Achieves Record Growth in 2024

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2024 marked a year of record growth for CC&L Infrastructure across our portfolio, team and client base.

2024 Highlights

Graphical image of company stats for 2024. 1. Increased gross AUM by approximately one billion dollars or approximately twenty-four percent; 2. Closed four high-quality new investments; 3. Surpassed two GigaWatts in gross capacity of clean energy generation from our growing renewables platform; 4. Grew our team by over twenty percent year-over-year, adding eight new team members across our investment, asset management and finance teams; 5. Exceeded one hundred underlying assets in our diversified infrastructure portfolio.
Graphical image of company stats for 2024. 1. Increased gross AUM by approximately one billion dollars or approximately twenty-four percent; 2. Closed four high-quality new investments; 3. Surpassed two GigaWatts in gross capacity of clean energy generation from our growing renewables platform; 4. Grew our team by over twenty percent year-over-year, adding eight new team members across our investment, asset management and finance teams; 5. Exceeded one hundred underlying assets in our diversified infrastructure portfolio.

An accelerated pace of deployment in new and existing sectors, further diversifying our infrastructure portfolio

CC&L Infrastructure deployed a record ~$600 million in 2024, all relating to opportunities sourced on a bilateral basis outside of broad auction processes. The new investments span the renewable energy, transportation and social infrastructure segments, and include our first investment in the student housing sector. The additions expanded the size of our infrastructure portfolio to over 100 assets, diversified across sectors and primarily located in North America.

Image of wind turbines at Sharp Hills wind farm

Sharp Hills Wind Farm

Located in southeastern Alberta, one of the largest onshore wind farms in Canada with approximately 300 MW of capacity, representing clean energy generation equivalent to the amount of power used by more than 160,000 Alberta homes.

 Image of yellow school buses

Twin City Transportation

A premier provider of special education transportation services in Minnesota, this investment is an accretive addition to the broader Landmark Student Transportation platform, adding over 250 routes serviced by approximately 175 vehicles.
Image of wind turbine in a snowy landscape

Ontario Wind Assets

Two southern Ontario-based wind projects, Armow Wind and Grand Renewable Wind, together totaling approximately 330 MW in gross capacity and generating energy equivalent to the annual consumption of nearly 290,000 Ontarians.

 Image of student housing buildings at University of Texas

Northside Student Housing

Four student housing facilities situated at the University of Texas at Dallas. Facilities were built between 2016 and 2021 and comprise ~1,200 units with the capacity to house >2,500 students. Northside’s long-term land leases with the university have an average of over 50 years remaining.

Disciplined investment strategy

CC&L Infrastructure seeks to invest in high-quality, North American middle-market infrastructure assets that deliver essential services and create value for stakeholders, including our clients, partners and the local communities in which our projects are located.

Image of solar panels in a solar farm

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Our differentiated approach:

  • Open-ended structure provides investors with immediate access to a large, diverse portfolio of infrastructure assets
  • Established portfolio with a strong, nearly 15-year-long track record2
  • Highly contracted asset base with long durations and investment-grade offtakers3
  • Dedicated in-house asset management team with robust construction and operating experience provides strategic oversight to enhance performance

About CC&L Infrastructure

CC&L Infrastructure invests in middle-market infrastructure assets with attractive risk-return characteristics, long lives and the potential to generate stable cash flows. To date, CC&L Infrastructure has accumulated over $7 billion4 in assets under management diversified across a variety of geographies, sectors and asset types, with more than 100 underlying facilities across over 35 individual investments. CC&L Infrastructure is a part of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage over $139 billion in assets.

For more information on Connor, Clark & Lunn Infrastructure’s strategy, portfolio and investment criteria, contact:

INVESTMENT ORIGINATION AND EXECUTION
Photo of Matt O'Brien

Matt O’Brien

President

T: +1 (416) 360-7382

E: [email protected]

 Photo of Ryan Lapointe

Ryan Lapointe

Transportation

T: +1 (416) 216-3545

E: [email protected]

 Photo of David Chatburn

David Chatburn

Energy

T: +1 (416) 862-6169

E: [email protected]
Photo of Eric Reidel

Eric Reidel

Energy

T: +1 (416) 862-6125

E: [email protected]

 Photo of Andrew Parkes

Andrew Parkes

Digital

T: +1 (416) 956-9384

E: [email protected]

 

INVESTOR RELATIONS
Photo of Kaitlin Blainey

Kaitlin Blainey

Managing Director

T: +1 (416) 216-8047

E: [email protected]

 Photo of Sonia Weiss

Sonja Weiss

Vice President

T: +1 (437)-561-6184

E: [email protected]

1. Represents growth in the mark-to-market value of capital invested by CC&L Infrastructure and its clients, including principal investments and co-investments, plus CC&L Infrastructure’s share of associated debt at December 31, 2024.

2. Performance history for the CC&L Infrastructure Strategy is that of the CC&L Infrastructure Composite, which comprises performance of the Private Client Infrastructure Pooled Fund series, CC&L Institutional Infrastructure Pooled Fund series and CC&L Taxable Institutional Infrastructure Pooled Fund series. The Composite has a creation date of March 2014 and inception date of September 2011.

3. Primarily 20-to-40-year contracts with government or other creditworthy counterparties. Many contracts also include beneficial features including take-or-pay arrangements and inflation linkages.

4. Represents the mark-to-market value of capital invested by CC&L Infrastructure and its clients, including principal investments and co-investments, plus CC&L Infrastructure’s share of associated debt at December 31, 2024.

Unless otherwise stated, all data is at December 31, 2024 and stated in Canadian dollars (CAD). Source: Connor, Clark & Lunn Financial Group Ltd. This material, including any attachments, is provided to you for your informational purposes only and is considered private and confidential. This material is intended for the use of the recipient only and no matter contained herein may be used, disseminated, distributed, reproduced or copied by any means, in whole or in part without express prior written consent of CC&L Infrastructure. Certain information contained herein is based on information obtained from third-party sources that CC&L Infrastructure considers to be reliable. While we consider such information to be reliable, CC&L Infrastructure makes no representation as to, and accepts no responsibility for, the accuracy, fairness or completeness of such information produced by third parties and contained herein. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of capital may occur. All opinions, estimates and projections contained in this material constitute CC&L Infrastructure’s judgment as of the date of this material, are subject to change without notice. This material has been prepared without regard to the particular individual financial circumstances and objectives of persons who receive it and nothing in this material constitutes legal, accounting, tax or individually tailored investment advice. As such, as you consider this material, you should consult with independent professionals in those areas regarding your individual circumstances. This information is not an offer to sell or a solicitation of an offer to buy any securities and is not to be used as a sales communication.

Latest News

The Northside Plus building at the University of Texas at Dallas.

Connor, Clark & Lunn Infrastructure and Bestinver Infra acquire majority stake in Northside student housing

January 10, 2025

Connor, Clark & Lunn Infrastructure and Bestinver Infra announced the acquisition of a majority interest in the Northside student housing project, a community of student housing facilities situated at the University of Texas at Dallas (UTD).

Read More
Wind turbines in a large field and blue sky.

Connor, Clark & Lunn Infrastructure expands renewable energy portfolio to over 2 GW with investment in Ontario wind assets

January 7, 2025

Connor, Clark & Lunn Infrastructure is pleased to announce the acquisition of a significant interest in two Ontario-based wind projects (the Projects) representing approximately 330 megawatts (MW) of gross capacity from Pattern Energy (Pattern), a leading North American developer and operator of renewable energy assets.

Read More

INVESTOR RELATIONS
Photo of Kaitlin Blainey

Kaitlin Blainey

Managing Director

T: +1 (416) 216-8047

E: [email protected]

 Photo of Sonia Weiss

Sonja Weiss

Vice President

T: +1 (437)-561-6184

E: [email protected]

1. Represents growth in the mark-to-market value of capital invested by CC&L Infrastructure and its clients, including principal investments and co-investments, plus CC&L Infrastructure’s share of associated debt at September 30, 2024, proforma two transactions closed in December 2024.

2. Includes transactions closed in December 2024.

3. Performance history for the CC&L Infrastructure Strategy is that of the CC&L Infrastructure Composite, which comprises performance of the Private Client Infrastructure Pooled Fund series, CC&L Institutional Infrastructure Pooled Fund series and CC&L Taxable Institutional Infrastructure Pooled Fund series. The Composite has a creation date of March 2014 and inception date of September 2011.

4. Primarily 20-to-40-year contracts with government or other creditworthy counterparties. Many contracts also include beneficial features including take-or-pay arrangements and inflation linkages.

5. Represents the mark-to-market value of capital invested by CC&L Infrastructure and its clients, including principal investments and co-investments, plus CC&L Infrastructure’s share of associated debt. Includes transactions closed in December 2024.

Unless otherwise stated, all data is at September 30, 2024 and stated in Canadian dollars (CAD). Source: Connor, Clark & Lunn Financial Group Ltd. This material, including any attachments, is provided to you for your informational purposes only and is considered private and confidential. This material is intended for the use of the recipient only and no matter contained herein may be used, disseminated, distributed, reproduced or copied by any means, in whole or in part without express prior written consent of CC&L Infrastructure. Certain information contained herein is based on information obtained from third-party sources that CC&L Infrastructure considers to be reliable. While we consider such information to be reliable, CC&L Infrastructure makes no representation as to, and accepts no responsibility for, the accuracy, fairness or completeness of such information produced by third parties and contained herein. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of capital may occur. All opinions, estimates and projections contained in this material constitute CC&L Infrastructure’s judgment as of the date of this material, are subject to change without notice. This material has been prepared without regard to the particular individual financial circumstances and objectives of persons who receive it and nothing in this material constitutes legal, accounting, tax or individually tailored investment advice. As such, as you consider this material, you should consult with independent professionals in those areas regarding your individual circumstances. This information is not an offer to sell or a solicitation of an offer to buy any securities and is not to be used as a sales communication.

CC&L Infrastructure
January 7th, 2025

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