Stéphane Calas

Stéphane Calas has over 24 years of experience in investment banking, infrastructure investment and asset management.

Since joining Cube Infrastructure Managers in 2010, he has primarily focused on the Telecom, Energy and Public Transport sectors. He was involved in the acquisition of Idex and build-up and integration of Cube I’s Energy Supply platform, prior to leading its sale to Antin in 2018. He contributed to the creation and development of Cube’s Public Transport platform with by leading the acquisitions of Netinera Deutschland, Boreal Norge, Hansea and Umove, and was in charge of the sale of Boreal to China Everbright in 2018. Since 2016, he took an active part in the development of Covage and asset management of the Communications Infrastructure platforms of Cube I and Cube II. In 2014, he was part of the transaction team in charge of the sale of submarine cable company IslaLink to EQT Infrastructure and led the divestment of the fund’s 40 per cent stake in Newlincs to Tiru (EDF group). In 2019, he also led the investment of Cube II in Engenie, a UK-based EV charging infrastructure company.

Stéphane currently is the Managing Director of Cube IM’s Telecom & Digital Infrastructure team and is a member of the Boards of Covage, G.Network and Engenie and former Board member of Idex, Boreal, Netinera, Hansea, Taranis Energy and Newlincs.

Previously, Stéphane had spent more than 9 years in Investment Banking at Dresdner Kleinwort in various M&A and Corporate Finance roles, based in Paris and London. He was particularly active in the Utilities and Infrastructure sectors, advising corporates and specialist infrastructure funds on a number of M&A, restructuring and capital markets transactions across Europe. Following the acquisition of Dresdner Bank by Commerzbank AG, he was then appointed as global Head of Infrastructure in the M&A Advisory team of the combined group, covering energy, transport and telecom infrastructures. He was subsequently a founding partner of Prodeo Capital SAS, an independent advisory firm active in the financial services and energy sectors.

Prior to joining Dresdner Kleinwort Benson, he had worked for 5 years at PricewaterhouseCoopers, latterly as a manager in the firm’s Corporate Finance advisory practice As part of his academic curriculum, he notably carried out research on the deregulation of the transport sector at the French institute for national research on transports. He is a civil Engineer and an MBA graduate from Ecole des Ponts ParisTech.