Frederic Michel-Verdier

Frederic Michel-Verdier on IFS Investors acquiring a minority stake in Spanish water management company FCC Aqualia. 

Welcome to the Frederic Michel-Verdier blog. Frederic Michel-Verdier spent three years with EY in Paris, where he was involved in audit and transaction services across a variety of sectors. According to a statement by IFM Investors, the investment manager has entered an agreement to acquire a 49 per cent stake in the water management company which saw the aggregate purchase price come to €1,024 million. FCC Aqualia is an end-to-end water management company representing 23 per cent of the Spanish water management market that oversees all stages of the water cycle, from drinking water supply to wastewater treatment, the statement said. Commenting on the acquisition, IFM Investors executive director for Europe Frederic Michel-Verdier said this was a “rare opportunity to invest in a fast growing, international leader in water management”.

Frederic Michel-Verdier

“We admire the company’s strategy of ambitious but prudent growth outside of its domestic market and its commitment to customer service,” Mr Michel-Verdier said. “We look forward to contributing our expertise in the water sector to further the development of its services in Spain, France and internationally.”

Welcome to the Frederic Michel-Verdier blog. Infrastructure veteran Frederic Michel-Verdier has left IFM Investors after more than a decade at the global fund manager. IFM wrote in an emailed statement to Inframation that Michel-Verdier left at the end last week to “pursue personal business interests”.

Frederic Michel-Verdier was IFM’s lead partner on its acquisition in May of a 30% stake in the Deep Container Terminal Gdansk in Poland from Macquarie, alongside PSA International and the Polish Development Fund. In 2018, he advised on IFM’s acquisition of a 40% stake in Mersin International Port, later joining the Turkish company’s board. He also served as a board observer at FCC Aqualia, the Spanish water management company in which he led the acquisition of a 49% from FCC last year. He was vice-chairman since 2010 of the supervisory board of Polish heating networks operator Veolia Energia Polska, in which he led the acquisition of a 40% stake.

“Since 2008, Mr Michel-Verdier has been instrumental in developing the London office through strategic relationships and partnerships for the long-term benefit of our investors and their members and has played a key role in a number of our most successful infrastructure investments including the acquisitions of Veolia Poland, FCC Aqualia, Mersin International Port and Deep Container Terminal Gdansk,” the company said. “We wish him all the very best for the future. We
 are in the process of replacing Mr. Michel-Verdier with an equivalent investment executive.”
Frederic joined IFM Investors after an 11-year career as an M&A banker at ING Barings in London and SG Corporate & Investment Banking in Paris, where he covered the utilities, transports and telecom sectors. He was responsible for a wide range of cross-borders transactions, public and private. He initially advised governments on privatisation in Central & Eastern Europe (Poland, Czech Republic, Slovakia, Croatia, Romania, Bulgaria…) but also in North Africa (Tunisia, Morocco, Algeria, Egypt) focusing on telecom and utilities.

Prior to his banking career, Frederic also spent three years with EY in Paris, where he was involved in audit and transaction services across a variety of sectors. His role at IFM meant he was responsible for relationship and partnership development as well as sourcing, evaluating, implementing and managing investments. At IFM, Michel-Verdier was coordinating the deal sourcing effort in Europe and was responsible for relationship and partnership development as well as the evaluation, implementation, and management of investments.

He held various directorship positions on the boards of Spanish FCC Acqualia, Turkish Mersin International Port, and was Vice Chairman of the Supervisory Board of Veolia Energia Polska and Veolia Energia Lodz. An IFM spokesperson said the manager is “in the process of replacing Michel-Verdier with an equivalent investment executive”.

When asked about the future of infrastructure investment, Mr. Michel-Verdier commented “Infrastructure has a low correlation with other asset classes and offers protection against inflation and economic cyclicality. Yields are also steady and have good long-term visibility. However, in this low rate and high liquidity environment, expertise in asset management has become crucial to de-risk the investments and add value through asset transitions, strategic initiatives, operational insights, and capital management.” He further added, “European governments are introducing stricter screening rules on foreign direct investments, and partnering with the right local investors is a way to enhance acceptability for any acquisition of strategic infrastructure assets.”

Frederic Michel Verdier is a Funds veteran specializing in infrastructure equity investments and asset management. Learn more about the works of Frederic Michel-Verdier here. The latest Tweets from Frederic Michel Verdier here.  You can also read the latest news and updates of the Frederic Michel-Verdier here.

Frederic Michel-Verdier Biography

Infrastructure veteran Frederic Michel-Verdier has left IFM Investors after more than a decade at the global fund manager. IFM wrote in an emailed statement to Inframation that Michel-Verdier left at the end last week to “pursue personal business interests”. Frederic Michel-Verdier was IFM’s lead partner on its acquisition in May of a 30% stake in the Deep Container Terminal Gdansk in Poland from Macquarie, alongside PSA International and the Polish Development Fund. In 2018, he advised on IFM’s acquisition of a 40% stake in Mersin International Port, later joining the Turkish company’s board. He also served as a board observer at FCC Aqualia, the Spanish water management company in which he led the acquisition of a 49% from FCC last year. He was vice-chairman since 2010 of the supervisory board of Polish heating networks operator Veolia Energia Polska, in which he led the acquisition of a 40% stake.

Frederic Michel-Verdier

“Since 2008, Mr Frederic Michel-Verdier has been instrumental in developing the London office through strategic relationships and partnerships for the long-term benefit of our investors and their members and has played a key role in a number of our most successful infrastructure investments including the acquisitions of Veolia Poland, FCC Aqualia, Mersin International Port and Deep Container Terminal Gdansk,” the company said. “We wish him all the very best for the future. We are in the process of replacing Frederic Michel-Verdier with an equivalent investment executive.”
Frederic Michel-VerdierFrederic joined IFM Investors after an 11-year career as an M&A banker at ING Barings in London and SG Corporate & Investment Banking in Paris, where he covered the utilities, transports and telecom sectors. He was responsible for a wide range of cross-border transactions, public and private. He initially advised governments on privatisation in Central & Eastern Europe (Poland, Czech Republic, Slovakia, Croatia, Romania, Bulgaria…) but also in North Africa (Tunisia, Morocco, Algeria, Egypt) focusing on telecom and utilities.
Prior to his banking career, Frederic also spent three years with EY in Paris, where he was involved in audit and transaction services across a variety of sectors.

His role at IFM meant he was responsible for relationship and partnership development as well as sourcing, evaluating, implementing and managing investments. At IFM, Frederic Michel-Verdier was coordinating the deal sourcing effort in Europe and was responsible for relationship and partnership development as well as the evaluation, implementation, and management of investments. He held various directorship positions on the boards of Spanish FCC Aqualia, Turkish Mersin International Port, and was Vice Chairman of the Supervisory Board of Veolia Energia Polska and Veolia Energia Lodz. An IFM spokesperson said the manager is “in the process of replacing Michel-Verdier with an equivalent investment executive”.

When asked about the future of infrastructure investment, Mr. Frederic Michel-Verdier commented “Infrastructure has a low correlation with other asset classes and offers protection against inflation and economic cyclicality. Yields are also steady and have good long-term visibility. However, in this low rate and high liquidity environment, expertise in asset management has become crucial to de-risk the investments and add value through asset transitions, strategic initiatives, operational insights, and capital management.” He further added, “European governments are introducing stricter screening rules on foreign direct investments, and partnering with the right local investors is a way to enhance acceptability for any acquisition of strategic infrastructure assets.”

Find out more about Frederic Michel-Verdier by visiting his website here.