Semperian Management

The Semperian Management Group is the dedicated, integrated manager for the Semperian Infrastructure Group, encapsulating all requisite management activities.  Semperian Management Group operates three core pillars: Capital, Operations and Finance and is led by The Semperian Executive and supported by the Senior Leadership Team.

Capital Management

Responsible for discharging Investment Management obligations for the Group and providing Project level directorial services
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Operational Management

Responsible for project Operations and Technical Management Services and supporting Group activities
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Financial Management

Responsible for financial reporting, compliance and control across the Group and Portfolio of assets
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Semperian Executive

The Semperian Executive that has delegated authority to manage the company on behalf of the shareholders and comprises of the CEO, CIO, COO and CFO.

Andrew Rhodes

Chief Executive Officer

Richard Little

 Chief Investment Officer

Gary Brown

Chief Operating Officer

Steve McGeown

Chief Financial Officer

Senior Leadership Team

The Semperian Executive is supported by the Senior Leadership Team with representation from each of Semperian’s three divisional pillars.
Emma Lancaster
Emma Lancaster

Director of Asset Management

Luke-final
Luke Body

Director of Technical Management

Daniel North
Daniel North

Senior Investment Director

Chris-reardon
Christopher Reardon

Director of Legal

Sar
Sarah Riddle

Portfolio Finance Director

ChrisB
Chris Burlton

Group Finance Director

Becky_final
Becky Brunt

Director of HR and Support Services

Semperian Management Group Services

Capital Management

The Capital Management division is dedicated to ensuring the effective oversight and operational success of the portfolio of investments at the project level, with a strong emphasis on client engagement. Key responsibilities include: strategic supervision of each investment; financial oversight and optimisation; fostering transparent and collaborative relationships with stakeholders at the project company level; proactively resolving operational challenges, including contractual disputes; and ensuring the delivery of Value Enhancement Plans.

As well as housing the Project Investment Directors, Capital Management retains the Legal and Company Secretariat functions for the Semperian Management Group.

Investment Director

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Legal

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Company Secretariat

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Operational Management

The Operations Division is responsible for Asset and Technical Management services, which are focused on delivering services to mostly Semperian subsidiaries, joint ventures and a limited number of third party projects. The Operational Management division provides commercial support, where relevant activities are likely to involve the contemplation and / or management of disputes, negotiations, settlements and other resolutions. General commercial and insurance renewal activates are also be covered by this team.

Asset Management

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Technical Management

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Financial Management

The Finance Division is responsible for all aspects of financial reporting, compliance and control across the Semperian Infrastructure Group and the individual Projects within the portfolio. Within the Financial Management division are the Audit & Risk resources that ensure the requisite controls are in place to minimise or mitigate the impact of the business risks inherent within the Semperian Infrastructure Group.

Portfolio Finance

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Group Finance

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Semperian Central Functions

In support of the three Semperian Management Group pillars are the critical support functions. These functions ensure that the Semperian Management Group has the requisite resources and controls in place in order to deliver its services to the Semperian Infrastructure Group and external clients.

Information Technology

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Human Resources

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ESG & Standards

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Andrew Rhodes

Andrew is the Chief Executive Officer for Semperian Management Group.

He has worked as a project finance specialist for over 25 years, focusing on Private Finance Initiative (PFI) projects in the UK, with a background in major energy, water and infrastructure projects in developing and developed countries. Andrew has been with Semperian from its inception as SMIF in November 2003, after having worked for HSBC, Abbey National Treasury Services and the European Union.

Andrew has undertaken equity fund raising, portfolio leverage and project acquisitions, whilst in addition, focusing on cost benefit analyses, comparative advantage studies, tariff analyses and policy evaluation. Transaction highlights include raising a £1.3bn leverage fund that acquired over 100 PFI assets, plus more widely the A$5.6 billion Sydney Airport privatisation in Australia and the £1.5 bn acquisition of Cory Energy from Waste facility.

Andrew is also registered as a General Representative with the FCA.

Richard Little

Richard Little has served as Chief Investment Officer at Semperian since 2022, where he also oversees the Capital Management division. With over 20 years of dedicated experience in the PFI/PPP sector, Richard has been a pivotal part of Semperian’s journey since joining the business in 2005.

In his current role, Richard holds overall responsibility for the valuation of the Semperian Group and the long-term financial forecasting of its extensive asset portfolio. He leads the asset acquisition and evaluation team, having played a central role in every acquisition and bid undertaken by Semperian since 2007. His remit includes structuring and securing both equity and long-term debt financing to support strategic growth.

Richard also serves as a Project Director on several key investment boards across the Semperian portfolio, where he ensures compliance, fosters strong stakeholder relationships, and drives performance to meet targeted investment returns.

Before joining Semperian, Richard began his career at QinetiQ, participating in their Graduate Training Programme. He holds a degree in Aeronautical Engineering from Loughborough University (2002) and is a member of the Royal Aeronautical Society.

Gary Brown

Gary Brown has served as Chief Operating Officer since 2021, following a series of senior leadership roles within the Group, including Managing Director of the Professional Services Division, which he established in 2017.

With over 25 years of experience in engineering and facilities management — and more than 20 years specialising in the PFI/PPP sectors — Gary is recognised for his ability to lead complex, high-value projects that address commercial, operational, and financial challenges. His portfolio includes delivering solutions on projects exceeding £200 million, often within demanding and fast-paced environments.

As a key member of the Group’s senior management team, Gary has provided strategic leadership through periods of significant industry disruption, including guiding the business through the collapse of two major FM providers. His approach blends operational resilience with a clear focus on long-term value creation.

Gary brings strong commercial acumen and a strategic mindset to his role, contributing to capital planning, risk management, and resource optimisation. He ensures operational performance is aligned with broader business objectives and growth strategies.

With a background in engineering and project management across multiple sectors, Gary is highly regarded for his stakeholder engagement, governance expertise, and communication skills. His leadership is defined by clarity, collaboration, and a commitment to continuous improvement.

Steve McGeown

Steve is the Chief Financial Officer of the Semperian Group. He is an FCA with over 17 years’ experience in Finance, Accounting and Asset Management.

Steve joined the Group in 2013 and has held various positions across the Group’s finance function. As CFO, Steve heads up the Finance Division, and holds directorships across the Group, including the Semperian Group Board. He supports the business on all Group wide financial matters, including; internal and external financial reporting, financial control and compliance, planning and analysis, and delivers to the Audit Committee. He has been heavily involved in the portfolio’s growth, working closely with the Semperian Capital Management team on acquisitions, debt and equity structuring, as well as overseeing the portfolio’s financial performance. 

Prior to joining Semperian he trained with PwC in London spending over five years in the Assurance division with a focus on large Asset Management and Insurance clients.  Steve also holds a 1st Class Honours degree in Accounting and Finance from Exeter University. 

Emma Lancaster

Emma Lancaster is the Director of Asset Management at Semperian Management Group, where she holds overall responsibility for the Group’s extensive portfolio of asset. She leads the operational management team in preparing assets for compliance and handback, playing a pivotal role in delivering complex projects and shaping Semperian’s approach to effective asset management.

Previously, Emma was the Managing Director of Semperian Assurance Services, a specialist division focused on asset compliance. Over a four-year tenure, she led the development and implementation of Semperian’s proactive compliance framework, aligning with the public sector’s evolving focus on PFI expiry. Her leadership was instrumental in redefining Group-wide practices to meet the challenges of compliance enforcement and the UK’s PFI handback programme.

In 2020, Emma was appointed to Semperian’s senior leadership team as Regional Director for the Southwest, successfully navigating a range of complex projects. She is recognised for her strategic vision, meticulous attention to detail, and commitment to sharing best practice across the organisation—qualities that continue to influence the wider PFI market and shape the future of infrastructure management.

Emma joined Semperian in 2017, bringing over 15 years of dedicated experience in infrastructure management across sectors including health, education, defence, custodial, leisure, and social care. Her career has also included acting as a Lender’s Technical Advisor to numerous funders of PFI/PPP projects, further deepening her expertise in complex asset environments.

Prior to joining Semperian, she worked in business development, supporting PFI project delivery from bid through to operational management.

Luke Body

Luke is the Technical Director, responsible for the Group’s Technical Management division.

Luke is an experienced technical asset manager who has two-decade long career with the business, spanning roles in project management, lifecycle planning and delivery management, and six years as leading the professional and technical services functions, supporting all sectors and acquisitions of the Semperian group.

Luke was instrumental in the acquisition and integration of Capitec into SMG and has notable achievements, including the creation and development of the life cycle planning and delivery models and representing the Group on technical matters externally. These have contributed significantly to operational and financial performance, and led to excellent relationships and reputations with investors, clients and peers alike.

Luke has day-to-day responsibility for technical strategy, ensuring that the simplified SMG retains in-house access to a competent multi-disciplinary team of experienced technical and safety professionals, and a strategically managed supply chain ensuring scalability in supporting the ongoing compliance of the SMG portfolio and providing risk-mitigation through alternative delivery solutions.

Daniel North

Dan is an experienced investment professional with over 15 years in PPP, infrastructure and energy projects across the UK, Ireland, and Australia. His expertise spans a diverse range of asset classes and includes leading complex transactions and managing high-value investments.

As Senior Investment Director at Semperian, Dan is responsible for appraising new opportunities, leading due diligence, securing approvals, and negotiating/closing acquisitions. He also serves as a board director on over 30 PPP project companies, overseeing performance, compliance, commercial decision making, stakeholder relationships, and ensuring shareholder returns. His role requires the interrogation of financial models and statements and demands a detailed knowledge of project and finance documentation.

Previously, Dan held roles at Macquarie Capital and Balfour Beatty Investments, working across equity sponsorship project development and bidding, and financial advisory roles. Transaction highlights in that time include bidding/closing over €360 million in Irish social infrastructure PPPs, £1.4 billion (2GW) in OFTOs in England & Wales and $440 million in student accommodation and biomass projects in Sydney.

Dan holds a Masters in Finance (Distinction) from London Business School, and a First Class Honours Masters in Civil Engineering from Cardiff University.

Chris Reardon

Chris is the Director of Legal and heads up Semperian’s legal and company secretariat team. Chris brings over 10 years of experience as a highly commercial legal advisor on PPP/PFI projects. Prior to joining Semperian in 2018, he spent five years in private practice at a leading international law firm, where in addition to PPP/PFI infrastructure projects he also advised on transport and energy sector concessions and acquisitions, acting for blue chip, multinational and government clients both in the UK and in the United Arab Emirates.

In his time as an in-house lawyer at Semperian, Chris has amassed a broad generalist legal knowledge and has advised on all aspects of the corporate lifecycle including a number of major supplier insolvencies.

In addition to legal work, Chris has chaired the Security Committee since 2018 and more recently has been appointed to Board Director roles on some of Semperian’s education sector projects in Scotland.

As a qualified Solicitor, he is an SRA regulated professional.

Sarah Riddle

Sarah is the Portfolio Finance Director at Semperian, where she leads the Portfolio Finance division, encompassing Project Finance, Treasury and Tax. She works in close partnership with operations teams to ensure the smooth and effective delivery of financial operations across the Group’s MSA commitments, driving performance and operational excellence.

An ICAEW Chartered Accountant and CIOT Chartered Tax Adviser, Sarah began her career specialising in tax. Since joining Semperian in 2013, she has held a range of roles across the organisation, giving her a broad perspective and deep understanding of the business. She has also successfully led change management initiatives across the wider organisation, demonstrating her strategic leadership and commitment to continuous improvement.

Prior to joining Semperian, Sarah worked at Smith & Williamson LLP (now S&W Partners Group Limited), where she was part of the Corporation Tax team. Her experience included advising a diverse portfolio of clients, from owner-managed businesses to multinational public companies.

Chris Burlton

Chris is the Group Finance Director at Semperian, having joined the organisation in 2013. A chartered accountant with the ICAEW, Chris brings over 30 years of experience across accounting, finance, audit, reporting, and financial controls.

He serves as a director on several group companies and leads both the Group Finance and Transaction Services teams. His responsibilities span financial reporting and analysis, budgeting and forecasting, income and payment operations, maintaining robust financial controls, overseeing financial systems development, and producing statutory accounts, including the consolidated group accounts under IFRS.

Before joining Semperian, Chris held senior finance roles at a number of asset management firms, including within General Motors Group, National Grid, and CPB Contractors, with responsibilities extending across the UK, Europe, and Australasia.

Earlier in his career, Chris was an Audit Manager at Deloitte, where he w

Becky Brunt

Becky is the Director of HR and Support Services and has been with the Group since October 2010.

Becky’s area of responsibilities includes HR, Learning and Development, Support Services and she is focused on ensuring the team’s efforts drive improvements and best practise across the Group. Becky’s background is Human Resources, and she is a Chartered member of the CIPD and has extensive experience within the PFI market.

Prior to joining the business, Becky spent 16 years working for an FM provider, leading a team which managed all aspects of HR management, which included numerous TUPE transfers. She has core change management skills which are utilised to advise on our business’s organisation design and effectiveness.

Becky is also a true advocate of Employee Wellbeing and has led our business to embrace significant changes in attitude which in turn has materially improved our employee engagement.

Investment Director

The Investment Directors are responsible for ensuring Semperian’s assets are managed in accordance with the principles and objectives set by the Executive.  In addition to the corporate responsibilities that the Directors discharge, the Investment Directors are responsible for distribution optimisation, forecasting & reporting, issue resolution and key stakeholder interface management.

The key role for the Principal Investment Director on the SPC board is to ensure compliance to project contracts, whilst protecting and optimising shareholder value.  Additional duties include:

  • Value Extraction and Enhancement.
  • Valuation, Mid and Long Term Cash Forecasting.
  • Investment Management and Reporting.
  • Senior Debt Structuring, Reporting, Compliance.
  • Investment Origination, Diligence and Funding.
  • Equity Sourcing and Reporting.

Legal

The team of qualified solicitors procure, deliver and oversee legal advice to the Group with the following principal responsibilities and objectives:

  • Supporting corporate good practice, ensuring the business of the Group is properly conducted in accordance with its own legal and contractual governance and also in the wider legal/regulatory environment
  • Providing an interface between the Semperian Management Group and the providers of external legal advice.
  • Preserving the value and income of the portfolio against claim, risk, detriment in various forms
  • Supporting the acquisition of new investments/assets or the dealings with existing held assets
  • Training the Group and providing materials on relevant legal issues, precedents, developments and lessons learned
  • Supporting the business generally as a substantive employer and trading business in its own right

Company Secretariat

The Company Secretariat Team play a crucial role in ensuring the Semperian Group operates within its legal and regulatory framework, while also supporting effective governance.  The division’s key responsibilities include:

  • Governance Support through the organisation and preparation of Board Papers, Minutes and Actions as well as advising on corporate best practice.
  • Compliance & Regulatory Affairs, with the filing of requisite documents with regulators (e.g. Companies House) and the maintenance of statutory registers.
  • Discharging Corporate Administration obligations through the maintenance of legal entity structures, dividend payment and annual filings.
  • Ensuring effective Shareholder Communications at both the Project Board and Group Board levels.

Asset Management

Semperian Asset Management operates a broad skillset focused on ensuring contractual compliance, including:

  • Contract management
  • Project document obligation analysis
  • Detailed performance monitoring assessment
  • Benchmarking and market testing management
  • Payment mechanism and calibration analysis
  • Accurate and timely reporting reviews
  • Project risk analysis and monitoring
  • Supporting the development of project-specific handback plans
  • Coordinated development of handback processes and information
  • Early collaboration with project stakeholders
  • Handback obligations advice and specialist support

Technical Management

Technical Management is the Group’s technical and professional management subdivision, which ensures scalable access to competent resources and a managed supply chain to mitigate technical risks to protect and support future value. In pursuit of fulfilling Semperian’s group and asset technical contractual obligations

Semperian Technical Management (STM) is responsible for setting, implementing, and managing.

  • Technical strategy, policy, and oversight,
  • Technical governance and risk management,
  • Technical monitoring and reporting, and
  • Commissioning services from and managing the value of SMG strategic supply chain.

Comprising core, SHE compliance, Planning, Procurement and Programmes functions, and complemented by Capitec, STM represents the integrated technical management authority of the consolidated SMG.

Working cross-divisionally at an asset and portfolio level STM secures the technical reinforcement of the key Pillars of Performance: Operational, Financial and Capital and ensures statutory duties are effectively discharged, thereby safeguarding shareholder value.

Portfolio Finance

Portfolio Finance is responsible for undertaking the financial management of the Semperian Group, as well as its portfolio of assets, governed by the Management Services Agreements, with following key deliverables:

  • Project Management accounting, including budgeting and in-year forecasting
  • Annual financial statements and accounts administration
  • Financial modelling and sensitivity
  • Management of tax compliance
  • Treasury and cash management
  • Financial compliance and delivery of project financial obligations
  • Reporting to project Boards

Group Finance

The Group Finance Department is responsible for the maintenance of group wide financial controls and systems, encompassing the core functions of SMG finances, Group Financial Services and Audit & Risk.

  • Transactional processes and accounting across entities, including; purchase order and invoicing
  • Processes, supplier checks, payments, credit control, expenses, corporate cards, cash management and reconciliations
  • Financial systems development, maintenance and support across the Group
  • Core finance processes and controls across the Group
  • Day to day operational finance, reporting, budgeting and forecasting
  • Group consolidation and audit
  • Project accounting including time sheeting
  • Payroll review and support
  • Internal audit & risk management

Information Technology

Information Technology (“IT”) has two core functions within the Group, the first is general IT support, infrastructure and security, the second is the management of business systems and development, through technology upgrades and new systems.

  • Delivering IT support, via the IT Service Desk, to all staff.
  • Maintain core IT infrastructure – networks, servers, and cloud platforms.
  • IT security and governance.
  • IT projects.
  • Hardware.
  • Desktop software and hosted application

Human Resources

The Human Resources department is dedicated to managing and supporting Semperian’s employees with the key roles and responsibilities including:

  • Resourcing & Talent Management: Attracting and retaining the best people – encouraging employee development and identifying external talent.
  • Developing our Capability: Identifying and nurturing Semperian’s employees to achieve their full potential.
  • Health and Wellbeing: Providing support and resources to create a workplace in which employees are healthy, resilient, engaged, motivated and show initiative.
  • Employee Relations: Offering advice and guidance on all employee relations matters.
  • Compensation & Benefits: Developing and delivering a compensation and benefits approach which is both valued by Semperian’s employees and facilitates the organisational objectives.
  • Payroll: Handling all aspects of employee payroll.
  • Legislation and Policy Awareness: Keeping the business informed about current workplace legislation and ensuring compliance through appropriate policies.
  • HR Systems & Data: Utilising technology and data insights to streamline HR processes, improve employee experiences and drive informed business decisions.
  • Equality, Diversity & Inclusion: Leading the EDI agenda to create a workplace where everyone feels valued, respected, and empowered. We are committed to fostering an inclusive environment and driving meaningful change.

ESG & Standards

The ESG and Standards team are responsible for the delivery of ESG strategy and ensuring SMG maintains our ISO certifications.  ESG factors can have a material impact on Semperian’s ability to deliver on its objectives. ESG is therefore identified as an important long-term factor that should be proactively managed as a business priority. The following goals aim to be addressed by our ESG Policy:

  • Minimising environmental impact – Acting to prevent the worst impacts of climate change is one of the biggest challenges facing our society. This, coupled with the long-term nature of Semperian’s investments and the nature of social infrastructure, means this is a crucial objective for Semperian.
  • Maximising the wellbeing and development of staff – Staff are key stakeholders in Semperian’s business, and their wellbeing and professional development is vital our long-term success.
  • Having a positive impact on society – Semperian’s assets are critical infrastructure for communities across the UK and play a crucial role in improving people’s lives.
  • Instilling strong governance to enhance and protect Semperian’s reputation as a responsible business – Semperian believes that in order to hit the above objectives, the highest standards of corporate governance and disclosure should be put in place.