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Finch Bay Capital
Graham B. Hill's London-based boutique, founded in 2021, runs a concentrated listed-infrastructure equity strategy built around the energy transition.
Finch Bay Capital
Finch Bay Capital was established in London in 2021 by Graham B. Hill and David A. Fisher, both veterans of institutional energy and infrastructure investing. Hill spent the prior decade at Ninepoint Partners in Toronto, where he ran global energy and infrastructure strategies and oversaw the firm's real-asset equity platform. Fisher's career spans senior roles at Macquarie Group and RBC Capital Markets, orienting the firm's DNA toward real-asset underwriting and publicly listed infrastructure — a discipline more commonly associated with private-markets managers than with public-equity boutiques. The firm pursues a concentrated, long-only equity strategy focused on global listed infrastructure, with the energy transition as its organizing thesis. Finch Bay invests across regulated utilities, renewable power producers, gas infrastructure, and energy-transport assets in North America, Europe, and Australia. The portfolio construction deliberately targets mid-cap infrastructure owners — companies with physical, contracted, or regulated cash flows that fall between the acquisition appetites of mega-cap infrastructure funds and the liquidity requirements of large-index inclusion. No individual portfolio holdings have been publicly disclosed, but the strategy maps onto operators of transmission grids, LNG terminals, and contracted wind and solar fleets. Team size and assets under management remain undisclosed. The firm operates from a single London office and has not announced fundraising rounds, separate accounts, or adjacent vehicles. In June 2023, Finch Bay Capital obtained regulatory authorization from the UK Financial Conduct Authority, formalizing its ability to manage client assets and paving the way for its first institutional mandates (per FCA Register, 2023). The firm's structural distinction lies in its posture as a dedicated, publicly listed infrastructure manager during a cycle when most energy-transition capital formation has flowed into private funds. By operating in the liquid mid-cap infrastructure space — a segment that private-infrastructure GPs often pass over and passive indices mechanically exclude — Finch Bay addresses a specific gap in institutional energy-transition allocations. Hill's prior tenure at a multi-billion-dollar Canadian real-asset platform provides the track-record anchor that a first-time fund manager requires to compete for pension and insurance capital.
General information
Firm type
Asset Manager
Year founded
2021
AUM
Undisclosed
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Principals
Graham B. Hill
Co-Founder & Chief Investment Officer
David A. Fisher
Co-Founder
Sector focus
Frequently asked questions
Who makes investment decisions at Finch Bay Capital?
Graham B. Hill, co-founder and chief investment officer, leads portfolio construction and stock selection. Hill built his track record as a senior portfolio manager at Ninepoint Partners in Toronto, where he managed global energy and infrastructure strategies. His prior experience included roles at RBC Capital Markets and in institutional energy sales, giving him a career-long focus on publicly traded energy and infrastructure equities.
How does Finch Bay source investment ideas?
The firm applies a real-asset underwriting lens to publicly traded infrastructure securities, screening for mid-cap companies with contracted or regulated cash flows that trade at a discount to their private-market asset values. This approach relies on fundamental analysis of physical asset bases — transmission lines, pipelines, renewable generation fleets — rather than traditional equity-manager channels such as broker networks or sell-side research flow.
What asset classes and geographies does the firm target?
Finch Bay invests in listed infrastructure equities across regulated utilities, renewable power, gas infrastructure, and energy transport. Geographic coverage spans North America, Western Europe, and Australia. The strategy targets mid-cap operators — companies large enough to own diversified, contracted physical assets but small enough that they fall outside the top holdings of passive infrastructure ETFs and private-infrastructure fund mandates.
Does Finch Bay run a fund structure or separately managed accounts?
The firm's regulatory authorization with the UK Financial Conduct Authority, granted in June 2023, permits it to manage segregated institutional accounts and pooled vehicles. Specific fund structures or separate-account mandates have not been publicly announced, consistent with an early-stage manager building institutional relationships before a formal launch.
What is Finch Bay's relationship to Ninepoint Partners?
Finch Bay Capital is an independent firm and has no formal affiliation with Ninepoint Partners. Co-founder Graham B. Hill previously served as a partner and portfolio manager at Ninepoint, where he built and led their global energy and infrastructure equity platform. Finch Bay represents Hill's own venture, launched in London after his departure from the Canadian asset manager.
How does the firm differentiate itself from large-cap infrastructure funds?
Finch Bay targets a structural inefficiency in listed infrastructure: mid-cap owners of real energy assets that attract limited coverage from sell-side analysts and are too small for mega-cap private infrastructure funds to acquire directly. The strategy captures a segment where public-market valuations can lag private-transaction comparables, providing an entry point that dedicated listed-infrastructure boutiques — rather than diversified equity managers — can exploit.
What is the firm's regulatory status?
Finch Bay Capital LLP is authorized and regulated by the UK Financial Conduct Authority, having received its firm reference number in June 2023. This authorization permits the firm to manage investments and act as a portfolio manager for professional clients and eligible counterparties under UK securities law.
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