Strategy and business model
Strategy and business model
What we do
INPP's strategy covers two key areas of focus: Value-focused portfolio development, and active asset management.
This approach is underpinned by efficient financial management, responsible investment, and a continuous risk management framework.
In doing so, we create value for our investors, the public sector, local communities, and suppliers and their employees.
Value-focused portfolio development
We seek a portfolio of investments with strong visibility over long-term cash flows, protected in real terms through inflation indexation and for which financial, macroeconomic, regulatory, ESG and country risks are well understood and manageable.
Shirley Boys' and Avonside Girls' Schools,
New Zealand
The Investment Adviser has a strong investment team that originates attractive opportunities in line with the Company’s investment strategy.
We continually monitor opportunities to enhance the Company’s existing investments, whilst also considering opportunities for divestment.
Sustainability programme
The Company draws on the Investment Adviser’s award-winning sustainability programme, ‘Amber Horizons’, to inform areas for future investment.
Source
The Company operates a rigorous framework of governance, incorporating a streamlined screening, diligence and execution process.
This includes substantive input from the Company’s Investment Adviser and, as appropriate, external advisers, with the Company’s Board providing robust challenge and scrutiny.
Olga Primary School, Tower Hamlets, UK
Photo credit: Bob Wheeler Photography
Structure
140 +
5 *
We seek to develop a balanced portfolio through our Investment Adviser’s extensive relationships, knowledge and insights of the market to:
- Enhance long-term, inflation-linked cash flows
- Provide opportunities to create long-term value and enhance returns
1. The Company’s Investment Adviser was awarded the highest rating of 5-stars in the UN-backed PRI 2025 assessment for the Policy Governance and Strategy and Direct Infrastructure modules, respectively.
Active asset management
The Investment Adviser has an in-house asset management team dedicated to actively managing our investments.
Heata Community Campus, New Zealand
Where possible, the Investment Adviser will manage the day-to-day activities of our investments internally, or will exercise our responsibilities through board representation at asset level and engagement with third party management teams.
Through our Investment Adviser, we work with public sector clients, partners and service providers to ensure investments are being managed both responsibly and efficiently to create value for stakeholders by meeting or exceeding performance targets.
We focus on investment stewardship across the portfolio and recognise the broader value created from our investments.
Optimise
We actively manage our investments in order to optimise their financial, operational and ESG performance.
Consideration is also given to the potential for divestments to ensure that capital is effectively employed.
Deliver
Through our Investment Adviser’s global active asset management of our investments, we aim to ensure strong ongoing asset performance to deliver target returns and wider benefits for stakeholders.
Underpinned by
Efficient financial management
Reliance Rail, Australia
The Company aims to manage its finances efficiently in order to provide financial flexibility whilst minimising levels of unutilised cash holdings.
This is achieved through actively monitoring cash held and generated from operations, ensuring cash-covered dividends and managed levels of corporate costs, and is supported by appropriate hedging strategies and prudent use of the Company’s corporate debt facility.
Further details of the Company’s financial performance can be found by navigating to our financial highlights.
Continuous risk management
The Company’s objective in managing risk is the protection of stakeholder value.
Risk is inherent in the Company’s activities and is managed through a risk framework and management process of ongoing identification, measurement and monitoring, subject to risk limits and other controls.
The Board is ultimately responsible for risk management. Oversight of the risk framework and management process is delegated to the Audit and Risk Committee. The risk framework has been designed to mitigate the risk of failure to meet business objectives. No system of control can provide absolute assurance against the incidence of risk, misstatement or loss. Regard is given to the materiality of relevant risks in designing systems of risk management and internal control.
Further details of the Company’s approach to risk management is outlined it its Annual Report.
Responsible investment
In support of its purpose, the Company is committed to investing responsibly in a manner that benefits shareholders, communities, society, and wider stakeholders.
The Company believes that the financial performance of its investments is linked to environmental and social success and, as such, the Company considers issues that have the potential to impact the performance of its investments, both now and in the future.
Regulatory Alignment and Disclosures:
The Company is categorised as an Article 8 Financial Product under the EU Sustainable Finance Disclosure Regulation (‘SFDR’). It supports the objectives of the Paris Agreement, aligning its disclosures with the SFDR Principal Adverse Impacts (‘PAIs’) and the Task Force on Climate-related Financial Disclosures (‘TCFD’) recommended metrics for asset managers.
Climate Change:
INPP has quantified its greenhouse gas (‘GHG’) emissions in accordance with the Partnership for Carbon Accounting Financials (‘PCAF’) Financed Emissions Standard, which is consistent with the GHG Protocol standards.
Net Zero:
The Company’s Investment Adviser is currently supporting the UK Infrastructure and Projects Authority (‘IPA’) to develop a sector approach to emissions disclosure and net zero for PFI buildings. Amber is an active member of the IPA’s net zero working group, which has collectively supported the development of a sector-specific net zero stewardship guidance document published this year, and agreed on a streamlined approach to carbon data collection and quantification and site-level net zero feasibility studies.
KPIs:
The Investment Adviser, being a signatory of the UN-backed Principles for Responsible Investment (‘PRI’), has achieved a 5-star Strategy and Governance Module and a 5-star Infrastructure Module rating. This demonstrates the Company’s dedication to measuring and improving its ESG performance.
INPP's investment strategy is underpinned by rigorous benchmarks and frameworks, illustrating a responsible approach to sustainable development and stewardship of assets. Further details of the Company’s approach can be found in the Responsible Investment section.
Value creation
INPP is committed to delivering sustainable value to a broad spectrum of stakeholders including shareholders, the public sector, communities, and suppliers and their employees.
This commitment is reflected in the various aspects of the Company's operations
Tideway, UK
Photo credit: Tideway
Investor returns
Continuing to deliver consistent financial returns for investors through progressive dividend growth and inflation-linked returns from underlying cash flows, whilst optimising the portfolio to ensure the Company remains well positioned in the current market environment, and achieving value for our shareholders.
Public sector and other clients
Providing responsible investment in infrastructure to support the delivery of essential public services and broader societal objectives, e.g. supporting the path towards net zero. Our ability to deliver services and maintain relationships with our clients and other key stakeholders is vital for the long-term prosperity and performance of each investment.
Communities
Delivering sustainable social infrastructure for the benefit of local communities. INPP's investments provide vital public assets, whose benefits also include enhancing local economies, creating jobs, and the strengthening of communities.
Suppliers and their employees
The performance of our service providers, supply chain and their employees is crucial for the long-term success of our investments. The Company promotes a progressive approach to:
- Safe, healthy, inclusive workplaces
- Corporate social responsibility
- Opportunities for professional development
- Staff engagement

