Sequoia Infrastructure Debt Fund is a closed-ended investment grade / cross-over fund investing primarily in senior infrastructure debt in the European markets. It is domiciled in Luxembourg and issues EUR-denominated notes and units. The investment objective is income.
Broad sectors include transportation, utilities, power, renewables, telecommunications and social. The fund appeals to institutional investors such as insurance companies, pension funds and other long-duration investors. The fund is EU-AIFMD compliant.
Fund overview
Sequoia Infrastructure Debt Fund SCSp is a euro investment grade closed-ended fund investing primarily in senior infrastructure debt in the European markets. It is an LP-GP fund domiciled in Luxembourg and is EU-AIFMD compliant. The investment objective is income and the target gross return is 4.5% per annum.
The Fund appeals to institutional investors such as insurance companies, pension funds and other long-duration investors, who can invest through EUR-denominated units issued by the Fund or notes issued by its feeder, SECULUX S.A.
The Fund is managed by its GP which has delegated investment advisory to Sequoia Investment Management Company. FundRock LIS S.A. is the AIFM and Bank of New York is the administrator and depositary. KPMG is the auditor.
Fund strategy
The Fund invests predominantly in economic infrastructure. These are fixed, tangible assets that make up physical capital, one of the three factors of production. These assets are required for economic growth and are important in the capital formation and final consumption stages of GDP.
Economic infrastructure is an optimal part of the market for investment because it is much larger than the social infrastructure market and the assets offer better value. Broad sectors include transportation, utilities, power and telecommunications. The Fund also takes select exposure in renewables and social infrastructure.
The Fund uses a primary and secondary dual investment strategy. This ensures the largest possible investment opportunity set and reduces cash drag. In primary transactions, we participate in bi-lateral, club and syndicated transactions. We minimize construction risk by focusing on operational assets. This is accomplished through the secondary market and by participating in refinancings to gain exposure to assets with a demonstrated track record.
The Fund has target concentration limits on country, sector, single name and mezzanine exposure.
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