News & media Cordiant Digital Infrastructure Limited Announces Solid Performance Underpinned by Strength of Portfolio Companies
Cordiant’s first digital infrastructure fund, Cordiant Digital Infrastructure Limited (CDIL), a Core+ vehicle listed on the London Stock Exchange (LSE ticker:CORD) today announced its unaudited interim results for the six months to 30 September 2023.
Through CDIL, Cordiant seeks to create value from investing in the critical infrastructure of the modern internet including cloud and data centres, mobile telecommunications/broadcast towers and fibre-optic networks.
Said Steven Marshall, Chairman of Cordiant Digital Infrastructure Management: “CDIL delivered a solid return for the six-month period despite headwinds from foreign exchange volatility and an increase in the discount rate. CDIL’s portfolio delivered an earnings increase of 5.5% for the period and we look forward to the second half of the financial year with confidence.”
CDIL’s performance reflects the strength of its portfolio companies, which offer strong cashflows and growth opportunities in line with Cordiant’s Buy, Build & Grow model. The recent acquisition of Speed Fibre increases CDIL’s asset and geographic diversification in line with its strategy.
CDIL delivered a total net return for the period of £9.4 million, being 1.2p per share or 1.1% of opening ex-dividend NAV. With the announcement of an interim dividend of 2.0p per share, CDIL is in line to meet its 4.0p per share dividend target for the year.
Demand for digital data continues to increase exponentially as people’s lives continue to be lived online, and demand for data is expected to quadruple by 2025. Central to Cordiant’s Buy, Build & Grow strategy is the identification of mid-market sized platforms with potential for expansion and to provide them with the capital and management expertise they need to flourish.
Said Benn Mikula, CEO and Managing Partner of Cordiant Capital: “Our management teams, in collaboration with Cordiant’s industry experts, are driving value from the operating platforms by investing in capital expenditure to generate growing revenues and earnings.”
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About Cordiant Capital
Cordiant is a specialist global infrastructure and real assets manager with a sector-led approach to providing growth capital solutions to promising mid-sized companies in Europe, North America and selected global markets. Since the firm’s relaunch in 2016, Cordiant–a partner-owned and partner-run firm–has developed a track record of exceeding mandated investment targets for our clients.
Cordiant focuses on the next generation of infrastructure and real assets: sectors (digital infrastructure, energy transition infrastructure and the agriculture value chain) characterised by growth tailwinds and technological dynamism. In addition, Cordiant applies a strong sustainability and ESG overlay to its investment activities.
With a mix of managed funds offering both value-add and core strategies in equity and direct lending, our sector investment teams (combining seasoned industry executives with traditional private capital investors) work with investee companies to develop innovative, tailored financing solutions backed by a comprehensive understanding of the sector and demonstrated operating capabilities. In this way, Cordiant aims to provide value to LPs seeking to complement existing infrastructure equity and infrastructure debt allocations.
Cordiant has offices in Montreal, London, São Paulo and Luxembourg.
Press Release Disclaimer:
The risks associated with investing in Cordiant Digital Infrastructure Limited (the “Fund”) are outlined in the prospectus and in the Fund’s annual and interim reports, which may be viewed at www.cordiantdigitaltrust.com. These risks are based upon the Fund’s investment objectives and strategies and describe the material risks of investing in that fund under normal market conditions when considering the Fund’s portfolio as a whole, not each individual investment within the portfolio. The material and information provided therein does not constitute investment advice and is for informational purposes only. It is not a solicitation to buy or sell any of the securities or fund(s) mentioned herein. It does not take into account any investor’s particular investment objectives, strategies or tax status. Professional advisors should be consulted before making any investment decision
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Cordiant Capital and its affiliates do not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Cordiant Capital and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages. The forward-looking statements are not historical facts but reflect Cordiant’s current expectations regarding future results or events. These forward-looking statements are made as of the date of this document and are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although when making a forward-looking statement, Cordiant, as the case may be, believe that the assumptions inherent in this statement are reasonable, forward-looking statements are not guarantees of future performance.
