Alma Global Infrastructure

Alma Global Infrastructure

Alma Global Infrastructure was established to provide institutional investors with concentrated access to mid-market infrastructure assets globally. The manager targets essential service assets, including energy transition and renewable power generation, digital infrastructure, transportation, and regulated utilities. These sectors typically offer inflation-linked, contracted revenue streams, aligning with the firm's focus on downside protection and current yield. The firm pursues a direct investment strategy, acquiring control or significant minority stakes in operating companies and project finance vehicles. The investment mandate spans North America, Europe, and select OECD markets, seeking assets with established operating histories and visibility into long-term cash flows. Alma structures deals to include co-investment opportunities for large limited partners, deploying capital through both equity and subordinated debt instruments to optimize risk-adjusted returns. The investment team evaluates opportunities requiring specialized structuring or operational improvement, with a typical equity allocation of $50 million to $300 million per transaction. Sector engagement includes platforms in solar and onshore wind generation, alongside contracted thermal and peaking assets critical to grid stability. The firm's underwriting process stresses asset-level downside protection through long-term power purchase agreements with utilities and corporate offtakers. Alma's structural distinction lies in its exclusive focus on mid-market infrastructure, a segment where asset complexity and smaller transaction sizes create barriers to entry for large-cap global infrastructure funds. This positioning allows the manager to aggregate institutional commitments into a concentrated portfolio of essential assets, offering an alternative to the pooled mega-fund model without requiring investors to build internal direct origination teams.