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Aaron Church
ResearchedPrivate Equity / Infrastructure Fund Manager

Aaron Church

Partner, Infrastructure · 3i Group plc

Infrastructure InvestorGrowth / Buyout (mid-market economic infrastructure)Transport, utilities, energy, waste, circular economyLondon, United Kingdom
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At a glance

Title
Partner, Infrastructure
Role
Infrastructure Investor
Firm
3i Group plc
Firm Type
Private Equity / Infrastructure Fund Manager
Investment Stage
Growth / Buyout (mid-market economic infrastructure)
Sector Focus
Transport, utilities, energy, waste, circular economy
Location
London, United Kingdom
Board Seats
Non-Executive Director at Joulz and Oystercatcher

Background

Aaron Church is a Partner in the Infrastructure team at 3i Group, one of the world's leading international investment managers. Based in London, he focuses on the origination, execution, and asset management of economic infrastructure investments across Europe. He joined 3i in 2013 as a Director in the Infrastructure team, initially concentrating on investment origination and execution in the midstream energy and transportation sectors, and was promoted to Partner in 2019 as part of a round of five senior promotions within the infrastructure business.

Prior to joining 3i, Aaron worked at HRL Morrison & Co, a major Australasian-headquartered infrastructure fund manager, where he focused on infrastructure investments in Europe and Australasia, particularly in the midstream energy and transportation sectors. Before his career in infrastructure investing, he was a Project Leader at the Boston Consulting Group, primarily serving clients in the industrial goods sector across Australasia and North America. Aaron holds a Bachelor of Commerce (B.Com) from the University of Canterbury and an MBA with Distinction from the Kellogg School of Management at Northwestern University, where he studied as a Fulbright Scholar.

Aaron has developed a particular expertise in infrastructure assets tied to the circular economy, including waste treatment, recycling, and energy-from-waste operations. He has been a vocal advocate for the investment opportunities presented by the transition to a more sustainable, circular economic model, and has contributed thought leadership on the topic through 3i's public communications.

Investment Thesis & Focus

Aaron Church focuses on mid-market economic infrastructure investments in Europe, targeting resilient businesses that combine strong downside protection with significant growth prospects. His investment thesis centers on essential infrastructure assets across transport, utilities, energy, and waste sectors. He has a particular interest in the circular economy, investing in businesses that recover recyclable materials from waste, produce green gas from organic waste, and generate heat and electricity from residual waste that would otherwise go to landfill. He looks for infrastructure platforms that can be scaled through bolt-on acquisitions and geographic expansion into adjacent markets.

Notable Investments

  • Attero - Leading operator in the Dutch waste treatment and recycling market; owns two of the largest and most efficient energy-from-waste plants in Western Europe; under 3i's ownership, doubled its earnings and opened an electricity turbine capable of powering over 200,000 households
  • Joulz - Dutch energy infrastructure services company; Aaron serves as a Non-Executive Director on the board
  • Herambiente - Italian waste management and recycling business
  • ESVAGT - Danish provider of offshore support vessels and services to the energy sector
  • Infinis - UK-based renewable energy generation company
  • Tampnet - Offshore telecommunications network provider
  • Oystercatcher - Tank storage infrastructure business with terminals including Advario Singapore; Aaron serves as a Non-Executive Director on the board

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