Dalmore Capital is an infrastructure fund management company that seeks to provide its institutional investors with access to long-term investment opportunities in limited volatility infrastructure assets. Dalmore manages over £5.7 billion of capital sourced from leading institutional investors globally. Its funds have invested in over 140 infrastructure assets through co-mingled discretionary funds and co-investment vehicles. The investments made by Dalmore Capital are in infrastructure assets that involved in the provision of essential public services. This includes schools, hospitals, roads, utilities, trains, waste treatment and renewable energy generation. Dalmore’s primary investment focus is on assets located in the UK, with a small number of assets in Ireland, continental Europe and Canada. The firm was formed in 2009 by Michael Ryan, John McDonagh and Alistair Ray and in 2025, it was acquired by Royal London Asset Management, the asset management arm of Royal London (“RL”), as part of their growth in private assets. 

Dalmore will remain a standalone investment management business within the RL group, maintaining its own brand, governance, and culture.

Dalmore Capital Limited

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