Evli Infrastructure Fund I Ky, an alternative fund established in February 2020, raised another EUR 35 million in its third closing on October 15, 2020. The size of the fund is now EUR 104 million. The fundraising will continue after the closing, and the final close of the fund will take place in early 2021. The target size of the fund is EUR 100-200 million.
“Our infrastructure fund has been really well received in the market, and we are pleased that we have already exceeded the fund’s minimum target size. I believe that the great interest has been driven by both the growing need of clients to diversify their portfolios through infrastructure investments and the uncertainty brought about by the corona pandemic. The current global situation has had only minor impact on the unlisted infrastructure asset class. In addition, infrastructure projects generate a stable cash flow, which is particularly attractive in a low-interest-rate environment”, says Richard Wanamo, portfolio manager for Evli's infrastructure fund.
Evli Infrastructure Fund I Ky invests in infrastructure projects, which include, for example, water and district heating companies, social infrastructure, telecommunications infrastructure such as telecommunications networks and data centres, roads and ports, energy production and distribution companies, and renewable energy. The investments are made mainly in Europe, but also in the United States and other OECD countries. The fund operates with a fund-of-funds strategy, with the aim of carefully selecting the 7-10 best infrastructure funds into the investment portfolio. There will be approximately 80-120 infrastructure projects and companies in the portfolio. The first commitments to target funds were made shortly after the fund was established and the aim is to make all investment commitments during 2020-2022. The target funds in turn acquire investments within their own investment period, which usually takes 3-4 years.
Wanamo’s own experience, along with that of Evli, have both been important for the fund’s success. “Our portfolio managers have a good network, a lot of investment experience and a good overall picture of the market. In addition, Evli has a strong client base consisting of investors that are professional and knowledgeable. They know what they want and are looking for good alternatives. Of course, it is also very important that you have the support of a reliable, well-established and experienced market player like Evli. This enables us to access funds managed by the most successful managers”, comments Tero Tuominen, Managing Director of Evli Fund Management Company.
The development and sale of alternative investment products are a key focus area in Evli's strategy. Currently, Evli's alternative investment product offering covers real estate, unlisted equities, infrastructure and forestry, which are managed through eight funds. Evli's expertise in alternative investment products dates back to 2005, when Evli was the first in Finland to start real estate investment in the form of a fund. Today, Evli's alternative investments portfolio management team consists of 20 investment professionals, and the funds' total assets under management have risen above EUR 1 billion.
For more information, please contact:
Tero Tuominen, Managing Director, Evli Fund Management Company Ltd, tel. +358 50 439 2867, tero.tuominen@evli.com
