In 2025, over 85% of AUM across Dalmore’s three most recent flagship funds (DCF3, DCF4 and DII) was aligned with recognised sustainability standards and/or held a 5-star rating from an independent provider.
Dalmore Sustainability
Responsible investment
Revenue
Delivering competitive, long-term returns through investment in essential infrastructure.
Risk & opportunity
Identifying and managing material climate and sustainability-related financial risks and opportunities.
Outcomes
Generating measurable positive social and environmental outcomes.
Dalmore’s investments deliver positive socioeconomic and environmental impacts through the development and maintenance of essential infrastructure and public services. Our investment strategy considers assets across three categories:
Green
Directly support environmental and climate objectives.
Social
Deliver measurable socioeconomic benefits to local.
Transition
Enable the shift to a low-carbon, climate-resilient economy.
In 2025, over 85% of AUM across Dalmore’s three most recent flagship funds (DCF 3, DCF 4 and DII) is aligned with recognised sustainability standards and/or has been awarded a 5-star rating by an independent sustainability rating provider.
Sustainability Integration
Central to Dalmore’s approach is the integration of material climate and sustainability considerations into every stage of investment and asset management — from fund formation to exit.
In 2025, Dalmore achieved five-star ratings across all relevant modules in the Principles for Responsible Investment (PRI) Assessment, providing independent validation of how we govern, integrate and report on sustainability across our infrastructure investment activities.
Climate strategy
Dalmore has established a Climate Strategy to manage climate-related risks and opportunities across the portfolio. Central to this is a programme of active engagement and capacity building with portfolio companies — strengthening their ability to manage material climate-related issues and support alignment with Net Zero.
The Strategy is designed not only to meet regulatory requirements, investor expectations and international standards — it is a strategic initiative to enhance the quality of financial decision-making, in both capital allocation and the active stewardship of assets.
Governance
The Sustainability Committee — chaired by the Director of Sustainability and accountable to the CEO — is responsible for setting strategic direction, monitoring performance and ensuring sustainability considerations are reflected in investment and asset management decisions. Day-to-day implementation is led by Dalmore’s dedicated Sustainability Function.
Key policies
Dalmore’s Responsible Investment Policy sets out how climate and sustainability considerations are integrated into investment decision-making and asset management.
Stewardship
Dalmore’s Stewardship Policy sets out how the firm meets its stewardship responsibilities in alignment with the UK Stewardship Code.
Anti-Greenwashing
Our Anti-Greenwashing Policy sets out Dalmore’s commitment to ensuring all sustainability claims are accurate, credible and transparently reflect our actions and commitments, in line with the FCA’s Anti-Greenwashing Rule.
Sustainability disclosures
We publish an annual Climate-related Financial Disclosure and Sustainability Highlights Report.
Investment strategy
How we invest
For the past 14 years Dalmore has focused on investing in infrastructure that provides services critical to the functioning of society.
Through disciplined selection Dalmore funds have invested in lower volatility assets without significant exposure to GDP, traffic, usage or market price risk. Geographically Dalmore’s focus remains the UK, although we also manage assets in Europe and North America.
Looking forward, the UK mid-market core and core-plus segment continues to be our main focus, which we believe offers opportunities where disciplined underwriting, a thorough analysis of market exposure and local market expertise may support attractive risk-adjusted returns.