GLIL Infrastructure (GLIL) and Arcus Infrastructure Partners (Arcus) have UK energy infrastructure provider Smart Meter Assets 1 Ltd (SMA) from BUUK Infrastructure.

SMA is the fifth largest meter asset provider in the UK electricity and gas markets, financing and leasing smart meters to energy suppliers under long-term contracts. SMA has an installed meter portfolio of around 1.6 million meters and is expected to achieve a total roll-out of over 2 million smart meters.

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SMA's two primary customers are OVO Energy and Utility Warehouse. It also has contracts with most domestic energy suppliers, resulting in 90% contracted coverage of its meter portfolio. Over time, SMA is expected to sign contracts with additional customers increasing contracted cashflows and diversify its customer base, whilst continuing to strengthen relationships with OVO Energy and Utility Warehouse.

Katya Romashkan, Portfolio Manager at GLIL Infrastructure, who is joining the SMA board, said: "Energy assets like SMA are a critical part of the country's future infrastructure and key to building a sustainable economy. We look forward to working with SMA and Arcus, which shares our long-term investment horizon and sustainable investment objectives, and to providing stable, inflation-linked returns for our members."