Alistair Ray

Alistair co-founded Dalmore in March 2009 and serves as CIO. He is a member of the Dalmore Board, the Investment Committee and the Executive Committee. His day-to-day responsibilities focus on leading the investments and fundraising teams, and he serves as a Board Director of Cadent Gas and Cory.

Alistair has 28 years of infrastructure experience. Alongside overseeing Dalmore’s investments, he has experience of investments in Fiddlers Ferry and Ferrybridge power stations, PD and ABP ports, the SH121 toll road in Texas, and Oiltanking GmbH, an operator of liquid bulk terminals.

Prior to Dalmore, Alistair was a Director at Merrill Lynch, with joint responsibility for developing infrastructure origination capability in Europe and the US. Before that, he was a Director at 3i, one of the core investors in I2, where he led the bid to invest in a major US highway PPP project and closed infrastructure transactions in the Netherlands, Malta and Singapore. He was also a member of the team that successfully floated 3i Infrastructure plc on the London Stock Exchange.

From 2001 to 2004, Alistair was a Director and shareholder of Noble PFI, having spent the preceding three years at Edison Capital. Alongside Michael Ryan, he led the Noble-backed management buy-out of Edison Capital’s PPP portfolio and subsequently managed the sale of the Noble PFI portfolio to I2. While at Edison Capital, Alistair was active in developing the UK focused PPP portfolio and in the purchase of the Fiddlers Ferry and Ferry-bridge power stations from Powergen.

Alistair started his career at the Bank of Scotland, with financing wireless and fibre telecoms transactions.

Alistair holds a degree in Computing and Electronics