Majority control
≥50% shares/votes or board control
£466m
turnover · full accounts of controlled companies
- Companies
- 61
- Employees
- 2,337
- PBT
- £-557m
UK-visible control · infrastructure investor
Infracapital (M&G)
UK companies whose ownership chain resolves to Infracapital (M&G), via 82 matched control vehicles. Two views: every company where the firm is a significant-control PSC, and the narrower set it majority-controls.
Infracapital is the infrastructure equity investment arm of M&G Investments, based in London. It is a European infrastructure investor founded in 2001, or 2005 according to some third-party sources, and focuses on acquiring, building and actively managing core infrastructure assets across Europe through buy-and-build, greenfield and brownfield strategies. The firm says it has invested in over 60 businesses and has raised and managed over €9bn, although some sources report a lower figure in sterling.
All disclosed control
incl. minority (≥25%) PSC stakes
£632m
turnover · 259 companies
- Employees
- 3,703
- With accounts
- 43 (17%)
Control structure
Majority control · top platforms by turnover · 61 companies controlled in total
- Infracapital (M&G)
- 75–100% GB RAILFREIGHT LIMITED £336m · 1,365 staff
- 50–75% EVERO ENERGY GROUP LIMITED £83m · 192 staff
- 75–100% EVERO ENERGY FINANCE LIMITED
- 75–100% EVERO ENERGY H HOLDINGS LIMITED
- 75–100% ASSETGEN (HODDESDON) LIMITED
- 75–100% GIGACLEAR TOPCO LIMITED £47m · 779 staff
- 75–100% GIGACLEAR MIDCO LIMITED
- 75–100% INFRACAPITAL (SENSE) LIMITED —
- 75–100% PERGOLA (PPP ITALY) LIMITED —
- 50–75% CHARIOT (TOPCO) LIMITED —
- 75–100% CHARIOT (BIDCO) LIMITED
- 50–75% NABUCCO (TOPCO) LIMITED —
- 75–100% COGENIO GROUP LIMITED — · 1 staff
Platforms are the firm's accounts-filing holdings; figures are their (consolidated) turnover. Subsidiaries beneath them are already inside that total — shown for structure, not added again.
Largest UK holdings (2026)
Majority control · by turnover · 24 have filed accounts
| Company | PSC control | Turnover | PBT | Emp. |
|---|---|---|---|---|
| GB RAILFREIGHT LIMITED controlled via 6 hops · every link ≥75% | 75–100% | £336m | £16m | 1,365 |
| EVERO ENERGY GROUP LIMITED controlled directly · every link ≥50% | 50–75% | £83m | £-299m | 192 |
| GIGACLEAR TOPCO LIMITED controlled directly · every link ≥75% | 75–100% | £47m | £-226m | 779 |
How this is built — and its limits
- Control, not ownership. PSC filings disclose significant control (≥25% shares/votes, board rights, significant influence) — not economic ownership. We never assert a cap table.
- "PSC control" is a band, not an exact stake. Companies House discloses control only in ranges (25–50%, 50–75%, 75–100%), and we show the stronger of the share or voting band on the holding's nearest disclosed edge — the firm's own stake for directly-held companies, the immediate intermediate's for those held through a chain. A band below 50% (or a blank —) here means control rests on board-appointment rights or significant influence rather than a majority shareholding — common in PE structures.
- Every holding is chain-verified. The line under each company ("controlled via N hops · every link ≥X%") is the shortest PSC control chain we found from Infracapital (M&G)'s vehicles down to it — each hop a real public ownership disclosure. Where a company is also controlled by another tracked firm, that's flagged inline.
- Full accounts, not apportioned. A controlled company's figures are counted in full, not scaled by stake. A jointly-controlled asset counts fully under each controller.
- No double-counting. Where a consolidated parent and its subsidiaries both file, only the topmost is counted.
- Coverage is a floor. Only 24 of 61 majority-controlled companies file detailed accounts in our enriched set, so totals understate the true portfolio.
- UK-visible only. Chains that exit to Jersey, Guernsey or other registries terminate there — we can't follow beyond the UK.