Speakers

Michael co-founded Dalmore in March 2009 and is CEO. Michael is a Dalmore board member and a member of the Investment and Executive Committees. 

Michael has 31 years of infrastructure experience. As well as being involved in major Dalmore investments, Michael also has recent experience of investments in Southern Water, Swiss Grid, Transitgas, European renewables and various secondary LP interests in infrastructure funds, through his role on the Investment Committee of IST3, a Swiss investment foundation backed by a number of Swiss pension funds which invests across the infrastructure sector.

Prior to Dalmore, Michael spent five years as Managing Director of I2, where he led creation of a portfolio of interests in 86 infrastructure assets. From 2001 to 2004, Michael was a Director and shareholder of Noble PFI, following two years as a Director of Edison Capital, the investment arm of a Californian utility, Edison International.  Prior to October 1999, Michael was a Director of KPMG’s PPP advisory unit, where he worked closely with a range of public and private clients. During this period, as part of his work for the Highways Agency and NHS Trusts, he helped to develop standard PPP contracts.

Dalmore Capital

Dalmore Capital focuses on investment in UK infrastructure assets and is a prominent player in this sector managing over £5.7bn for institutional investors through discretionary managed equity funds, co-investment and single asset vehicles with a portfolio of c.130 infrastructure assets.

The firm was formed in 2009 by Michael Ryan, John McDonagh and Alistair Ray, each of whom remain in senior roles within Dalmore following sale of business to Royal London Asset Management in 2025. Dalmore focuses on providing institutional investors with access to infrastructure assets with predicable inflation-linked cash flows, strong yield characteristics and without significant exposure to GDP, traffic, usage or market price risk. Dalmore’s primary investment focus is in the UK, although it also manages assets in Ireland, continental Europe and Canada.

Alongside discretionary managed multi-asset funds, Dalmore has also been able to offer a range of co-investment and single asset/account transactions amounting to over £3.5bn.