Partners
Michael Allen
Michael Allen has over 18 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
Daniel Amaral has over 13 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
Jack Colbourne has over 15 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.
Gianmarco Cremonesi
Gianmarco Cremonesi has over 14 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.
Livio Fenati
Livio Fenati has over 15 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).
Stuart Gray
Stuart Gray has over 15 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.
Ian Harding
Ian Harding has over 13 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.
Dominic Helmsley
Dominic Helmsley has over 18 years experience in mergers and acquisitions and asset management expertise in the airports sector.
Dominic spent 12 years with BAA plc where he headed their international acquisitions group and oversaw the management of a number of BAA's overseas investments. This included Board representation and determining strategies for various subsidiary companies across a diverse range of geographies (including Australia, Middle East, US and Europe).
Most recently Dominic was a member of the Babcock & Brown European Infrastructure team.
Graham Marr
Graham Marr has over 20 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.
Francesco Nale
Francesco Nale has over 8 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.
Nicola Palmer
Nicola Palmer has over 16 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.
Toby Smith
Toby Smith has been a practising solicitor for over 10 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.

