Within Cube Infrastrucure Fund, 15 investment have been completed to date across three industrial platforms in energy supply, public transport and communication infrastructures as well as a diversified portfolio of power generation and environmental services assets.

Umove

  • Fund : Cube II
  • Status : Current
  • Sector : Public Transport
  • Location : Denmark
  • Investment Date : May 2017
  • www.umove.dk

Umove is the third largest bus public transport operator in Denmark.
The company operates a fleet of ca. 500 buses in the regulated Danish bus market and provides transportation services for daily urban and interurban bus connections through medium to long term gross costs contracts (i.e. no volume and price risk).

Hansea

  • Fund : Cube I
  • Status : Current
  • Sector : Public Transport
  • Location : Belgium
  • Investment Date : March 2014
  • www.hansea.be

Hansea is the second largest private bus operator in Belgium. The company provides transportation services for daily urban and interurban bus connections mainly for the Flemish Public Transport Authority.

It enjoys a leading position amongst private operators in Flanders with a share of 20% of the available market in the region, and has a strong growth opportunity in the Wallonian market.

Newlincs

  • Fund : Cube I
  • Status : Divested
  • Sector : Power Generation Renewable Energy
  • Location : United Kingdom
  • Investment Date : December 2011
  • Divestment date : October 2014
  • www.newlincs.com

Newlincs owns an integrated waste-to-energy plant in the mid-eastern UK, which has been operational since 2003 under a 25-year build, own and operate waste management and disposal contract. The plant manages annually approximately 130,000 tons of waste and incinerates about 50,000 tons to produce electricity and steam.

RPIPE

  • Fund : Cube I
  • Status : Current
  • Sector : Power Generation Renewable Energy
  • Location : Spain and Portugal
  • Investment Date : June 2011
  • rpi-e.es

RPIPE is an independent power producer, headquartered in Madrid. It owns and operates thirteen Spanish and seven Portuguese hydro power plants (“HPP”) together with a minority stake in three other Spanish HPPs totalling 87.9 MW of operating capacity.

RPIPE’s asset portfolio is broadly diversified across various climatic regions, river, basins and plant characteristics, and has an average remaining life of 26 years.

Covage

  • Fund : Cube I
  • Status : Current
  • Sector : Communication
  • Location : France
  • Investment Date : July 2011
  • www.covage.com

Covage is a leading French neutral telecommunication infrastructure company, jointly owned by Cube Communication Infrastructures S.C.A. and Axia NetMedia Corporation.

Covage rolls-out and supplies fiber optics telecommunication infrastructures for local authorities in France, mostly under long-term concession agreements with those local authorities.
Thanks to its 40 open-access local networks contracts and a 3,700km backbone, Covage provides long-term passive fiber contracts as well as active fiber services.


The increasing need for faster connections and notably the FttH roll-out constitutes strong long term growth drivers for Covage.

Boreal

  • Fund : Cube I
  • Status : Current
  • Sector : Public Transport
  • Location : Norway
  • Investment Date : May 2011
  • www.boreal.no

Boreal is the fourth largest public transport operator in Norway, operating more than 30 ferries and fast ferries, 900 buses and 6 trams, pursuant to long term concession contracts with local public authorithies.

In a country with challenging geographical constraints and a dispersed population, Boreal’s ferry connections represent an essential part of the national infrastructure, allowing efficient mass transport of people and goods by bridging the local and national routes across the numerous fjords of the Norwegian archipelago.

With a strong competitive position as a leading public transport company in a market with healthy underlying growth and consolidation opportunities, Boreal is an asset with attractive yield characteristics and strong growth prospectives.

Netinera

  • Fund : Cube I
  • Status : Current
  • Sector : Public Transport
  • Location : Germany
  • Investment Date : February 2011
  • www.netinera.de

Netinera is the largest private operator in the regional rail transport market in Germany, operating more than 39 million train-kilometers and 36 million bus-kilometers per year.

With a sizeable public transport platform with a good operating record, Netinera is poised to expand due to the significant on-going liberalization of the regional rail and S-Bahn markets in Germany, as well as opening up of the rail market in the state of Baden-Wurttemberg.

Idex

  • Fund : Cube I
  • Status : Current
  • Sector : Energy supply
  • Location : France
  • Investment Date : December 2010
  • www.idex.fr

Idex is the the third largest operator in both the district heating and energy efficiency services markets in France, with a growth strategy focused on the development of district heating networks. It operates more than 11,300 energy services contracts, 39 district heating networks and 8 Waste-to-Energy plants.

The Idex platform was created through a series of acquisition that were carried out between December 2010 and July 2012, and it is the holding company for Idex Infra (formerly NeoElectra) and Idex Services.

The increasing focus on energy efficiency, economic and sustainability concerns, and fast-changing regulatory environment are significant growth drivers for Idex.

TARANIS Energy

  • Fund : Cube I
  • Status : Current
  • Sector : Power Generation Renewable Energy
  • Location : France
  • Investment Date : December 2010 (Idex Infra’s acquisition).
  • www.taranis-energy.com

Created in 2012 as a spin-off of NeoElectra’s cogeneration assets, TARANIS Energy is an independent power producer specialized in small to medium size cogeneration, biomass and biogas plants. It was set up to become part of Cube’s newly created Power Generation platform in Europe.

Headquartered in Paris, France, TARANIS Energy’s main asset is a cogeneration plant located in St. Etienne de Rouvray in Normandy with 103 MW of installed capacity. In addition, TARANIS Energy’s portfolio includes a landfill biogas concession of 1.5 MW capacity and 15-year duration located in Aquitaine, France.

Boralex Europe

  • Fund : Cube I
  • Status : Current
  • Sector : Power Generation Renewable Energy
  • Location : France
  • Investment Date : December 2009
  • www.boralex.com

Boralex develops, builds and operates renewable energy power facilities in France and is France’s largest independent producer of onshore wind power. Boralex started its activities in France in 2001, and has since then experienced a very strong development and had in 2014 274 MW of installed capacity (mainly wind, but also solar and cogeneration).

Fotosolarium

  • Fund : Cube I
  • Status : Current
  • Sector : Power Generation Renewable Energy
  • Location : Spain
  • Investment Date : July 2008

In 2008, the Cube signed a partnership agreement with EDF Energies Nouvelles to jointly own and operate solar farms in Spain. The partnership’s investments are carried out through a holding company, Fotosolarium Holding, in which Cube holds an 81% equity stake.

Fotosolarium currently has an installed power generation capacity of 6.1 MW. The operation of the assets has been assigned to RPIPE in order to achieve cost efficiencies.

IslaLink

  • Fund : Cube I
  • Status : Divested
  • Sector : Communication
  • Location : Spain
  • Investment Date : July 2008
  • Divestment date : November 2014
  • www.islalink.com

IslaLink is an independent and neutral telecom infrastructure provider of submarine fiber. It deploys and operates submarine cables, providing telecom operators with the managed bandwidth services they require for their retail operations.

Since inception in 1999, the company has experienced a strong development and has deployed the following systems:
- BalaLink (the Spanish Peninsula to the Balearic Islands)
- CanaLink (the Spanish Peninsula to the CAnaryIslands
- OranLink (Valencia to Orna in Algeria, with a Point of Presence in Marseille)
- EulaLink (Europe to Latin America, on-going)

Saur

  • Fund : Cube I
  • Status : Divested
  • Sector : Power Generation Renewable Energy
  • Location : France
  • Investment Date : July 2008
  • Divestment date : October 2013
  • www.saur.com

Founded in 1933, the Saur Group is the third largest player in the French water distribution and waste water management market. In addition to its core activity, the company has also developed into municipal waste collection and treatment, and also certain ancillary services to local authorities.

In 2011 the group served 12 million of consumers in more than 10 000 municipalities.

Eurotunnel

  • Fund : Cube I
  • Status : Divested
  • Sector : Public Transport
  • Location : UK & France
  • Investment Date : March 2008
  • Divestment date : December 2012
  • www.eurotunnel.com

Eurotunnel holds the long-term concession to operate the cross-channel fixed link below the bed of the Straits of Dover, comprising two twin rail tunnels, a service tunnel, two terminals in Folkestone (Kent, UK) and Coquelles (Pas-de-Calais, France), and a fleet of shuttle trains.

CNIM Development

  • Fund : Cube I
  • Status : Current
  • Sector : Power Generation Renewable Energy
  • Location : United Kingdom
  • Investment Date : 2008/2009
  • www.cnim.com

CNIM Development has a leading position In the UK Energy from Waste market, through its Investments in four Energy from Waste plants. All four plants have been in operation for more than a decade, and the assets are operated at some of the highest availability standards in the UK.

- South East London Combined Heat and Power (SELCHP), ca 400,000 tons of waste incineration
- Wolverhampton Waste Services, ca 110,000 tons
- Dudley Waste Services, ca 90,000 tons
- Hanford Waste Services, ca 180,000 tons