Michael Ryan

Michael co-founded Dalmore in March 2009 and has served as CEO since the business was established. He is Chair of the Dalmore Board and a member of the Investment Committee, the Executive Committee and the Valuations Committee. In his role as CEO, Michael leads Dalmore’s overall strategy and has been involved in acquisitions and investor relations.

Michael has 31 years of infrastructure experience. Before co-founding Dalmore, Michael was previously CEO of I2, a highly successful investor in operational infrastructure assets. This business built up a portfolio of 86 assets and realised an annual return for investors of over 25% following its sale in 2009.
From 2001 to 2004, Michael was a Director and founding shareholder of the Noble PFI Fund. This business also acquired various interests in infrastructure assets and achieved a successful exit in 2004. He previously served as a Director of Edison Capital, the investment arm of Californian utility Edison International where he helped to develop a PPP portfolio of 14 investments.

Before 2001, Michael was a Director of KPMG’s PPP advisory unit, working closely with public and private sector clients. As part of his work for the Highways Agency and NHS Trusts, he contributed to the development of standard PPP contracts. Michael began his career at KPMG across turnaround, consulting and corporate finance, and was seconded to HSBC’s project lending team to help develop their infrastructure lending capability, where he was involved in the debt funding of early PPP projects.

Michael has been a member of the Investment Committee of IST Infrastrukur Global (IST 3) for over 10 years. This is an evergreen fund investing for Swiss pension funds. During that time, he has helped the platform to develop a global portfolio of infrastructure assets spanning direct investments, co-investments and secondaries.

Michael is a Fellow of the Institute of Chartered Accountants in Ireland.