Ithaka Infrastructure Partners
Also known as Ithaka Infrastructure Partners SGEIC, S.L., Ithaka
Madrid infrastructure manager (founded 2014, CNMV SGEIC no. 233) providing equity, debt and structured capital to European mid-market infrastructure; third fund: Ithaka Infra Fund III.
- HEADQUARTERS
- Madrid, Spain
- FOUNDED
- 2014
- AUM
- —
- OUTSIDE CAPITAL
- Yes
- TEAM LISTED
- 10 people
Focus
- STAGES
- GrowthBuyout
- ASSET MIX
- Private equityPrivate credit
- GEOGRAPHY
- EuropeSpainPortugal
Overview
Ithaka Infrastructure Partners was established in 2014 by a team formerly at Unión Fenosa and FCC’s renewable energy division. From 2015 to 2023 it sourced and managed infrastructure acquisitions with affiliates of Sixth Street under a partnership and management-services agreement, and it became a fully independent firm in 2024; its SGEIC was registered with the CNMV in February 2025. Investments have included a Spanish solar roll-up, a 45% stake in an Extremadura water-cycle concessions company, Ferroatlántica’s hydro and ferroalloy plants, the Duet Sports sports-centre concessions company and stadium operating companies with FC Porto and a Spanish club. Its third fund is Ithaka Infra Fund III, FCR, with related vehicles Ithaka Infra Fund III – March, FCR and Ithaka Infra III – March SCR.
Investment thesis
Equity, debt and structured capital for European mid-market infrastructure in energy and environment, digital, social, urban and sports infrastructure, invested outside competitive processes alongside industrial operators.
PORTFOLIO (6)
- FC Porto – Porto StadCo (Estádio do Dragão)since 2024
- Stadium operating partnership with a first-tier Spanish football club (unnamed)since 2022
- Duet Sports (municipal sports-centre concessions)since 2020
- Ferroatlántica (Xallas river hydroelectric plants and Cee-Dumbría ferroalloy plants)Climate & Energy · since 2019 · Exited
- Water-cycle concessions company in Extremadura (45% stake, unnamed)since 2018 · Exited
- Spanish solar assets (roll-up)Climate & Energy · since 2015 · Exited
People
- Alejandro SecoCo-founder, Partner, CEO and CIO · source
- Esther AdroherCo-founder, Partner, Chief Legal Counsel and CSO · source
- Hermenegildo FrancoOperating Partner · source
- Yago ToméPrincipal · source
- Alejandro JiménezPrincipal · source
- Nick SpencerHead of Investor Relations and Capital Formation · source
- Antonio CalviaHead of Finance · source
- Mariano OlmedaSenior Advisor · source
- Juan Luis López CardeneteSenior Advisor · source
- José Manuel PrietoSenior Advisor · source
Links
Frequently asked questions
Ithaka Infrastructure Partners is a private equity fund based in Madrid, Spain, founded in 2014.
Yes. Ithaka Infrastructure Partners invests its own capital in private companies.
Ithaka Infrastructure Partners invests at Growth and Buyout stages in Climate & Energy and Industrial & Manufacturing.
Key people at Ithaka Infrastructure Partners include Alejandro Seco (Co-founder, Partner, CEO and CIO), Esther Adroher (Co-founder, Partner, Chief Legal Counsel and CSO), Hermenegildo Franco (Operating Partner) and Yago Tomé (Principal).
Ithaka Infrastructure Partners's investments include FC Porto – Porto StadCo (Estádio do Dragão), Stadium operating partnership with a first-tier Spanish football club (unnamed), Duet Sports (municipal sports-centre concessions), Ferroatlántica (Xallas river hydroelectric plants and Cee-Dumbría ferroalloy plants), Water-cycle concessions company in Extremadura (45% stake, unnamed) and Spanish solar assets (roll-up).
The most recent publicly reported investment by Ithaka Infrastructure Partners is FC Porto (Porto StadCo, Estádio do Dragão) (€65m for 30% of the economic rights of the stadium operating company for 25 years (structured equity)), announced in Apr 2024.
Yes. Ithaka Infrastructure Partners manages capital from outside investors.