Arcus Team

The Arcus Team brings an unparalleled depth of experience with senior members of
the Arcus Team each having 20+ years of infrastructure investment and operating
experience, providing strong differentiated deal origination and asset management
skills. The Team, comprising 13 partners and a total of 25 investment professionals,
have transacted in multiple European countries. Arcus offers pan-European coverage
with 4 offices and 8 languages spoken.

Arcus believes that strong in-house capabilities are central to understanding the key
risk factors and return drivers of infrastructure investment. The Arcus Team has deep
sector knowledge in ports, rail, airports, roads, energy & power (including
renewables), water, utilities and telecommunication sectors.  

The Arcus Team’s in-house expertise covers asset management, law, utility
regulation, accounting, financing, compliance, investment structuring, tax, health &
safety, M&A and treasury which are utilised by working directly with the
management teams of each investment.

   Michael Allen Daniel Amaral  Jack Colbourne 

   Gianmarco Cremonesi      
Livio Fenati Simon Gray

   Stuart Gray Ian Harding Toto Lo Bianco

Francesco Nale      
Nicola Palmer
   Graham Marr

   Toby Smith

Michael Allen - Partner

Michael Allen has over 20 years experience of extensive mergers and acquisitions in
the infrastructure space. In addition, he has significant capital markets experience
(both equity and debt) as well as structuring and financing transactions. 
 
Michael’s experience covers many sectors and  geographies, although the vast
majority of his professional career has been gained in Europe.  Previously, Michael
was a member of the European Infrastructure Team at Babcock & Brown. Michael
has also worked at Merrill Lynch International, Dresdner Kleinwort Wasserstein,
Goldman Sachs International and Linklaters.
 
 
Daniel Amaral - Partner

 
Daniel Amaral has over 14 years experience in structuring infrastructure project
finance transactions, focusing on transport and energy sectors.
 
Daniel was previously a member of the European Infrastructure Team at Babcock &
Brown.
 
Prior to that he led the project finance department at Caixa Banco de Investimento
(Investment Bank of Caixa Geral de Depósitos, the largest bank in Portugal), in which
he oversaw debt and equity structuring for the largest Portuguese project finance
transactions.
 
 

Jack Colbourne - Partner

 
Jack Colbourne has over 17 years experience as a principal investor in infrastructure
projects, with expertise in asset management, valuation, debt structuring and
transaction execution.
 
Jack has particular focus on infrastructure relating to wireless communication
networks, and the value maximisation of real estate assets associated with
infrastructure and utility operations.
 
Jack was previously a member of the European Infrastructure Team at Babcock &
Brown. Jack has also worked at Resolution Property plc, WorldTel Limited, the
European Bank for Reconstruction and Development and Monitor Company.  Top 
 
 

Gianmarco Cremonesi - Partner

 
Gianmarco Cremonesi has over 16 years experience in CFO/senior finance manager
capacities across a wide range of infrastructure sectors, including utilities and
transport. His experience has been gained at a variety of multi-nationals located
across Europe and has included board and senior executive positions.
 
Gianmarco has held the role of CFO of Arcus European Infrastructure Fund 1 since its
inception in 2007.
 
Gianmarco was previously employed by Babcock & Brown and has also worked at
Iveco Capital Limited, Fiat Auto SpA, Trenitalia, TAV and Edison.  Top 
 
 
Livio Fenati - Partner

 
Livio Fenati has over 17 years expertise in originating, structuring and acquiring
infrastructure assets in transportation, telecommunications and utilities.
 
Livio also has deep understanding of corporate finance and capital market
transactions and strong managerial experience in organisational design, business
process re-engineering and value based management.
 
Livio was previously a senior member of the European Infrastructure Team at
Babcock & Brown. Livio has also worked at Societe Generale, Banca Intesa, San
Paolo IMI (Banca IMI) and Andersen Consulting (now Accenture).  Top
 
 

Simon Gray - Senior Partner

 
Simon Gray has over 20 years of direct experience in the origination, procurement,
structuring, execution, financing and management of infrastructure assets, throughout
Western Europe as well as Eastern Europe, Russia and Central Asia. He has led and
completed a large number of transactions across the ports, rail, road, energy,
communications and water spaces.
 
Simon was part of the team responsible for the creation of Arcus European
Infrastructure Fund 1.
 
Previously, Simon was head of Economic Infrastructure in Babcock & Brown’s
European Infrastructure Team where he worked for 13 years. Prior to that, Simon
worked at the European Bank for Reconstruction and Development where he
completed a number of investment and policy reform projects in the infrastructure
space throughout Eastern Europe, Russia and Central Asia. Top

Stuart Gray - Partner

 
Stuart Gray has over 17 years tax advisory experience and is a member of both the
Institute of Chartered Tax Advisors and the Institute of Chartered Accountants of
Scotland.
 
Stuart has extensive experience in tax structuring and providing advice on European
tax issues associated with infrastructure investments, gained in both practice and in
industry.
 
Stuart was previously a member of the tax division of Babcock & Brown and worked
extensively on infrastructure transactions during this time. Stuart has also previously
worked at Taylor Nelson Sofres, Sanmina-SCI and Andersen.  Top
 
 

Ian Harding - Partner

 
Ian Harding has over 15 years of experience in advising, acquiring, structuring,
financing and disposing of infrastructure projects and companies globally and has
structured and led the financing for a number of the landmark renewable energy
transactions across Europe. His experience covers a broad range of infrastructure
sectors including power generation, renewables, roads, rail, light rail, airports and
PFI/PPP transactions. 
 
Ian was previously a senior member of the European Infrastructure Team at Babcock
& Brown and prior to that, Ian worked at Citigroup and NM Rothschilds & Sons
Limited.  Top
 
 

Toto Lo Bianco - Managing Partner

 
Antonino (Toto) Lo Bianco has over 20 years of infrastructure origination,
development, structuring, funding, investment and asset management experience. He
has broad experience across the infrastructure asset class having completed a number
of developments, acquisitions and disposals (independently or in ventures) in almost
every European country. This experience has covered a broad spectrum of
infrastructure sectors, including toll roads, energy (gas, power and renewables), ports,
airports, PFI/PPP and rail.
 
Toto led the team responsible for the creation of Arcus European Infrastructure Fund
1.
 
Toto was previously the Head of European Infrastructure at Babcock & Brown,
building and managing a team that reached over 120 professionals across 7 local
offices throughout mainland Europe. Under his leadership, the European
Infrastructure Team expanded its business significantly and contributed strong
revenue growth and consistent profitability.  Top
 
 

Graham Marr - Partner

 
Graham Marr has over 22 years experience as a tax and asset finance practitioner in
the European infrastructure industry. He is a member of the Institute of Chartered
Accountants of England and Wales.
 
Graham was previously a senior member of the European Infrastructure Team at
Babcock & Brown with responsibility for structuring the investments made by Arcus
European Infrastructure Fund 1. Prior to that, Graham was head of lease advisory for
Babcock & Brown in London with particular focus on infrastructure and shipping
assets, where he had developed a market-leading reputation for structuring and
arranging complex tax-based financings with a consistent record of being retained by
leading blue chip UK-based multinational companies to act on their behalf.  Prior to
joining Babcock & Brown in 1996, Graham was a tax partner at Price Waterhouse
with whom he had worked since graduating in 1980.  Top
 
 

Francesco Nale - Partner

 
Francesco Nale has over 10 years transaction expertise in advising, acquiring,
structuring and financing infrastructure projects and companies in Europe.
 
Francesco has advised, and acted as principal, on the acquisition and financing of
some of the largest infrastructure transactions in the European transportation and
utilities sectors.
 
Francesco was previously a member of the European Infrastructure Team at Babcock
& Brown and prior to that, Francesco worked at Macquarie Bank Limited, ABN
Amro and Dexia Public Finance.  Top
 
 

Nicola Palmer - Partner

 
Nicola Palmer has over 18 years specialist experience in developing, financing and
managing infrastructure assets. Her experience covers a broad range of infrastructure
sectors including water, power generation, rail, light rail, gas pipelines, electricity and
gas distributions and ports. 
 
Nicola was part of the team responsible for the creation of Arcus European
Infrastructure Fund 1.
 
Nicola was previously a senior member of the European Infrastructure Team at
Babcock & Brown, and was a senior member of their Australian Infrastructure Team
prior to that. Nicola also previously worked for the Australian Industry Development
Corporation.  Top
 

Toby Smith - Partner

 
Toby Smith has been a practising solicitor for over 12 years.  Toby has extensive
experience in advising on, and implementation of, infrastructure projects and
transactions, gained both in leading law firms and in industry. Toby’s experience
covers a number of jurisdictions and sectors, including transport, energy and PFI/PPP.
 
Toby was previously the senior legal counsel for the European Infrastructure Team at
Babcock & Brown. Prior to that, Toby worked as senior legal counsel at Amey plc.
He has also worked in the Corporate Division (Projects) at Herbert Smith and at
Wragge & Co.  Top