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Ancala Partners is an independent infrastructure investment manager focused on delivering enhanced risk-adjusted returns by investing in and actively managing critical mid-market infrastructure assets.

Established in 2010 by Managing Partner Spence Clunie, Ancala was founded to address a clear gap in the infrastructure investment market: to provide superior risk-adjusted returns from the underexploited mid-market.

Ancala’s strategy is built on three core tenets: i) sourcing bilateral investment opportunities, ii) an unwavering commitment to downside protection and iii) creating value through proactive asset management. This combination is applied consistently. It differentiates Ancala and underpins the firm’s track record across market cycles.