Sequoia Economic Infrastructure Income Fund – a newly formed Guernsey fund focused on the economic infrastructure sector - has listed on the Main Market of the London Stock Exchange, raising £150 million in the process.
The fund expects to target investments in operational projects in the transport, transportation equipment, utilities, power, renewable energy, telecommunications infrastructure and infrastructure accommodation sectors.
Guernsey firms advising were Ogier, who undertook the legal work; KPMG Channel Islands, who acted as reporting accountants and as independent auditors; and Praxis Fund Services as administrator and International Fund Management, which forms part of The Praxis Group, as the investment manager.
The fund structure includes what is understood to be first independent, Guernsey-licensed fund manager to act as an alternative investment fund manager (AIFM) for the IPO of a new London-listed fund.
"Structuring in this way allows the fund to be placed to certain European investors via private placement, and offers a flexible solution to the challenges of meeting AIFMD requirements," said Chris Hickling, Managing Director of IFM.