Royal London has completed its acquisition of Dalmore Capital, a leading UK-based infrastructure investment manager. 

Dalmore Capital manages circa £6 billion in assets, delivering essential UK infrastructure and supporting the transition to a more sustainable economy. The acquisition reflects Royal London’s strategic ambition to grow its private assets capabilities and respond to the increasing demand for access to real assets that provide diversification, stable income and positive social and environmental impact. It also deepens Royal London’s presence in the UK infrastructure market at a time of renewed government and private sector focus on investment to drive growth and resilience. Ownership of Dalmore Capital and its asset servicing arm, Resolis, has transferred to Royal London Asset Management. Still, they will continue to operate as standalone businesses while benefiting from the strength and scale of the wider Royal London Group. 

Dalmore specialises in long-term core and core plus infrastructure investments. It has approximately 130 infrastructure assets in its portfolio, which are broadly diversified across various sectors, primarily located in the UK, but also in Europe and Canada. The portfolio has strong environmental and socially positive credentials. Assets include the Thames Tideway Tunnel, as well as 24 operational wind farms in the UK with a total capacity of 562 MW and a portfolio of run-of-the-river hydro generation projects in Scotland.