Cordiant Capital Inc.
| Company type | Private |
|---|---|
| Industry | Financial management, private equity |
| Founded | 1999 in Montreal, Quebec, Canada |
| Headquarters | Montreal , Canada |
Number of locations | Montreal, London, Luxembourg, São Paulo[1] |
Key people | Jean-François Sauvé (co-CEO) Benn Mikula (co-CEO) |
| Products | Infrastructure private debt and private equity |
| AUM | US$3.4 billion (2022)[1] |
| Website | www |
Cordiant Capital is a multinational investment management firm based in Montreal, Quebec, Canada. Founded in 1999,[2][3][4] the firm has also has offices in London, São Paulo and Luxembourg.[1] Since 2015, the firm's various investment funds have focused on energy infrastructure, digital infrastructure, and agriculture.[5]
History[edit]
1999–2014[edit]
Cordiant Capital was founded as a fund manager in Montreal in 1999.[6] With an initial investing focus on emerging market debt,[5] Cordiant's first fund closed in 2001 with US$360 million raised from its sole two investors at the time: Ontario Teachers' Pension Plan and Caisse de dépôt et placement du Québec.[7] Cordiant was an early signatory to the United Nation's Principles for Responsible Investment.
In 2005, the Government of Canada created its $211 million Canadian Investment Fund for Africa,[4] with Actis and Cordiant as co-managers.[7] ln December 2009,[8] Cordiant was selected to manage the €500 million Infrastructure Crisis Facility-Debt Pool,[9] part of a $4 billion program launched by the World Bank. Investors in the fund included various European governments and state development agencies.[10] Among them was the Government of Germany, through the development bank KfW.[9]
By 2011, Cordiant had invested around US$2 billion of the $2.2 billion it managed,[3] and had partnered with institutions such as the European Bank for Reconstruction and Development on diverse project types.[4] In April 2013, Cordiant raised $250 million for its fourth emerging market debt fund.[7][11]
2015–present[edit]
In 2015 and 2016, Cordiant was purchased from majority shareholder Ontario Teachers' Pension Plan by a new consortium of partners,[12] including Benn Mikula and Jean-François Sauvé, who became co-CEOs[5] and managing partners.[12][5] James Keirnan was named Cordiant's new chair.[5]
Upon the change in ownership, Cordiant focused on four sectors: digital infrastructure, agriculture, renewable energy and transport.[5] The company stated it would focus increasingly on middle-market companies,[12] both in emerging and developed markets.[13] Cordiant Capital was one of three Canadian signatories of the Operating Principles for Impact Management investing standard.[14] By January 2020, Cordiant had brought in Steven Marshall, former president of American Tower, as its chairman of telecommunications, overseeing a new $350 million Cordiant fund (Cordiant IX) focused on telecoms infrastructure.[2]
Cordiant listed a new fund, Cordiant Digital Infrastructure Ltd., on the London Stock Exchange in February 2021. It was given a £370 million funding cap with plans to invest in telecom infrastructure: data centers, primarily mobile-phone towers and fiber-optic networks.[5][15] The traded fund's investors were described by The Globe & Mail as "pension plans, alternative asset managers and wealthy families from Australia, Canada, Switzerland, the U.S. and the U.K."[5] The fund's first deal was with the Czech Republic-based digital infrastructure company CRA.[12]
In early 2022, Cordiant Capital had approximately $3 billion in committed capital in its combined funds.[5]
See also[edit]
References[edit]
- ^ a b c Cordiant at a Glance, Cordiant Capital, 2022, retrieved November 4, 2022
- ^ a b Simon Jessop (January 21, 2020). "Cordiant Capital aims to raise $350 million for telecoms fund, expands team". Reuters.
- ^ a b Roy, Sudiq (August 2, 2011), Emerging markets: Cordiant Capital presses on with private loans, Euromoney, retrieved November 4, 2022
- ^ a b c Grene, Sophie (May 12, 2012), People are queuing up to give us money, The Financial Times, retrieved November 4, 2022
- ^ a b c d e f g h i Willis, Andrew (February 18, 2021), Montreal's Cordiant Capital launches British fund to buy digital infrastructure assets, The Globe and Mail, retrieved November 4, 2022
- ^ Pitts, Gordon (March 8, 2010), Treading carefully in China and other emerging markets, The Globe and Mail
- ^ a b c Critchley, Barry (April 15, 2013), Montreal's Cordiant Capital, an investor in emerging market debt, raises US$250-million, Financial Post, retrieved November 4, 2022
- ^ Steve Ladurantaye (December 1, 2009). "Cordiant scores with World Bank fund". The Globe and Mail.
- ^ a b Fontaine, Hugo (December 2, 2009), "A mandate from the World Bank for Cordiant Capital", La Presse, France, retrieved November 4, 2022
- ^ Willis, Andrew (December 1, 2009), Cordiant lands World Bank mandate, The Globe and Mail, retrieved November 4, 2022
- ^ Morris, Stephen (April 14, 2013), Cordiant Raises $250 Mln to Invest in Emerging Market, Bloomberg, retrieved November 4, 2022
- ^ a b c d Willems, Michiel (May 19, 2022), City exclusive: Cordiant Capital's co-CEO on how to make money in the crowded world of digital infrastructure, City A.M., retrieved November 4, 2022
- ^ Jordan Stutts (November 27, 2019). "Cordiant raises more than $500m for latest infra debt strategy". Infrastructure Investor.
- ^ Lamontagne, Paul (August 2, 2019), Canadian firms must adopt a common standard for impact investing - Opinion, The Globe and Mail, retrieved November 4, 2022
- ^ Martin, Ben (December 7, 2020), "Cordiant Capital seeks £300m for digital infrastructure fund", The Times, retrieved November 4, 2022
