Meridiam

Meridiam

Thierry Déau launched Meridiam in 2005 after a career in infrastructure advisory at Egis and the French Ministry of Finance. The firm is headquartered in Paris and structured as an independent asset manager — not a family office — with a founding philosophy that infrastructure investments should align with the long-term needs of communities (per the firm, 2005). Meridiam invests exclusively in greenfield and brownfield infrastructure across four core verticals: energy transition and renewables, mobility and transportation, digital infrastructure, and social infrastructure (including schools, hospitals, and public buildings). It targets developed and emerging markets alike, with confirmed projects in Europe, North America, Africa, and the Middle East. Notable portfolio holdings include the Bujagali Hydropower Plant in Uganda (per Infrastructure Investor, 2015), the Canada Line rapid transit system in Vancouver (per PPP Canada, 2009), and a portfolio of French public hospitals (per the firm, 2022). The firm typically takes majority equity stakes and holds assets for 20–30 years. Meridiam manages approximately €20B in assets across public-private partnerships, direct equity, and managed accounts (per the firm, 2024). The firm employs roughly 160 professionals across offices in Paris, New York, London, Toronto, Luxembourg, Addis Ababa, and Istanbul. In May 2024, Meridiam closed its fifth core infrastructure fund at €4.6B (per Meridiam press release, May 2024), exceeding its initial €4B target. Meridiam operates as a benefit corporation (société à mission under French law), embedding its public-interest mandate into its legal structure. The firm does not manage capital for external LPs in a traditional fund-of-funds model — each fund is raised for a specific geography or sector, and the firm's governance requires that all investments meet a 'double bottom line' of financial return and measurable environmental or social impact (per the firm). This governance choice sets it apart from pure financial sponsors in the infrastructure space.