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About us
Amber is a leading international investment manager. For over 15 years, we have mobilised capital into essential, responsible infrastructure.

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What we do
We source, finance and manage infrastructure assets for both the public and private sectors, applying an integrated approach throughout the lifecycle of each investment.

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Source: Investment origination

Finance: Fund management

Manage: Asset management

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Amber develops and invests across a wide range of infrastructure sectors, each characterised by a long-term investment horizon and robust, creditworthy counterparties.

Our infrastructure portfolio

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Amber manages or advises eight funds with over £5 billion in funds under management. With a presence across 12 countries, Amber manages 175 infrastructure investments representing total assets under management of £14 billion.

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US Solar Fund plc

Three Seas Initiative Investment Fund

National Digital Infrastructure Fund

Scottish Partnership for Regeneration in Urban Centres

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As long-term investors, we recognise the need to consider how a changing world could impact our core business activities and investments.

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Our people are essential to our success. We are committed to building exceptional teams, maintaining our unique entrepreneurial spirit, and building a culture that is inclusive and impactful.

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Projects

The Haymarket

  • Haymarket building image
Other
Urban Development

In 2014, SPRUCE provided a c.£10m senior debt facility to Edinburgh Haymarket Developments Limited, an Interserve sponsored special purpose vehicle. The funding supported the delivery of the engineering works and land assimilation required to regenerate an under-utilised site in west central Edinburgh.

Sector
Other
Urban Development
Location
Edinburgh, Scotland
Status
Operational
Equity Ownership
Senior Debt Facility – Fully Repaid
Financial Close
February 2014
Term Length
Medium term senior debt facility

About

The site is situated in close proximity to Edinburgh’s Haymarket train station (one of Edinburgh’s two main railway stations and recently the subject of a £25m refurbishment) and a tram interchange, and is approximately half a mile to the southwest of Princes Street, close to Edinburgh’s Financial Services District.

This project has strong regeneration credentials, including:

  • Being located within one of the 13 most deprived local authority regions of Scotland, which were the key target areas for SPRUCE prior to the fund’s first closing at the end of 2015 
  • The regeneration of a brownfield, significantly under-utilised site 
  • Considerable job creation during construction and thereafter 
  • Support to a large, high profile project which has significant Scottish Government backing

Key impacts and benefits

Senior Debt Facility

£ 0.0 m

Why we invested

  • Amber invested in this asset as it met the objectives of the SPRUCE fund.
  • Amber is the Fund Manager to the Scottish Partnership for Regeneration in Urban Centres (SPRUCE) which is an Urban Development Fund (UDF) that supports regeneration and green energy projects throughout Scotland. The fund provides an innovative source of finance to eligible projects which are aligned to the Scottish Government’s regeneration and green energy strategies. Amber has been managing SPRUCE since its inception in 2011.
  • SPRUCE is a recyclable regeneration and energy efficiency fund, sourced from the Scottish Government, the European Investment Bank and the private sector, and is an innovative source of finance for projects that deliver outcomes aligned to key Scottish Government policy objectives.
  • SPRUCE supports a wide range of urban regeneration activity within well-defined, integrated, sustainable urban development plans. The Fund’s Investment Policy seeks projects in the following sectors: 
    • Rehabilitation of the physical environment
    • Construction of new buildings and/or renovation of existing ones and associated site specific infrastructure and servicing
    • Training and e-learning centres, including investment to increase ICT access
    • Creation of safe transport links between areas of opportunity and areas of need
    • Energy efficiency retrofit works delivering energy savings of at least 20% per annum
    • Energy production from renewable energy and low carbon technologies
Sustainable Development Goals (SDGs)

2030 Agenda for Sustainable Development adopted by UN Member States in 2015

SDGs supported:

SDG contribution

Outcomes

  • SPRUCE facilities have typically addressed market failure in the provision of funding to eligible projects that demonstrate a strong regeneration or low carbon rationale. Projects funded through SPRUCE have generated direct employment benefits to local populations.
  • The SPRUCE fund provides affordable, flexible, repayable facilities for project sponsors, and was designed to lever significant co-investment from public sector and private sector sponsors in supporting urban renewal and employment growth through revenue-generating projects. Typically, projects will address market failure, will demonstrate a strong regeneration rationale, and will generate direct employment benefits to local residents.
  • Funding is provided in the form of competitively priced senior loans, mezzanine loans and equity to eligible projects to be repaid within an agreed timescale. Funding can be provided to public, private or joint venture entities delivering regeneration or energy efficiency benefits.

Related

All case studies

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