Infranode’s Nordic infrastructure fund reaches final closing oversubscribed
Infranode has achieved final closing on its first fund reaching SEK 4.45 billion with AP4 joining an already strong group of local pension funds and the European Investment Bank (EIB). The capital will be invested long-term in Nordic infrastructure.
Infranode is a Swedish company that invests long-term in essential infrastructure in the Nordics in the energy, transport, telecom and social infrastructure sectors. Infranode’s investor base is comprised of pension funds such as the Fourth AP Fund, Folksam, KPA Pension and Finnish insurer LähiTapiola. Infranode has so far made two investments in Sweden and one in Norway.
“In the Nordic region, there is a significant investment need in infrastructure that is expected to exceed 200 billion euros over the next ten years. Our desire is to contribute to a more sustainable and stronger society in the Nordics through long-term investments in essential infrastructure,” Christian Doglia, a founding partner at Infranode, stated.
Infranode is a flexible investor and can consider ownership stakes from 10% up to 100%. In the case of minority ownership, the majority owner may be both public and private. In addition to traditional ownership, Infranode may also engage in time-limited ownership through, for example, a concession or a possible repurchase.
“The public understands that we can invest in ways that do not require them to lose the ownership of their infrastructure. Further, we have noticed that the public sector welcomes us as an investor since we invest both state and municipal pension capital” said Philip Ajina, another of Infranode’s founding partners.
Infranode invests in both existing infrastructure and in new construction projects. Common to all investments is a long-term ownership with a 25-year horizon with sustainability central to every step of Infranode’s investment process. Infranode has therefore developed its own tools that include ESG factors in the overall analysis of any possible investment which helps Infranode to continuously focus on sustainability during its ownership.
Infranode’s team of experts has in aggregate more than 150 years of experience of investing in infrastructure. Infranode was started in partnership with Areim, an established Nordic fund manager and adviser in the real estate industry.
Investors in the fund
The fourth AP Fund is a Swedish government pension fund that manages approximately SEK 350 billion and is one of the so-called “buffer funds”.
Folksam is a Swedish customer-owned insurance and pension company, through which almost every other Swedish citizen is insured. Folksam manages approximately SEK 250 billion.
KPA Pension is a Swedish pension fund for municipal and county employees and is owned by Folksam and the Swedish municipalities and county councils (SKL). KPA Pension manages approximately SEK 160 billion.
The European Investment Bank (EIB) is the long-term lending institution in the EU and is owned by its member countries. The EIB invests capital from the EFSI (Juncker Plan), which comprises about 315 billion Euros.
IMAS Foundation is a sister foundation to the INGKA Foundation, which is the owner of INGKA Group, which in turn owns the majority of IKEA’s department stores globally.
LähiTapiola is a Finnish insurance and pension company with strong regional roots and about 10 billion Euro under management.
For more information, please contact:
Christian Doglia, Founding Partner
+46 73 320 7487
Philip Ajina, Founding Partner
+46 70 755 9978
Press pictures: www.infranode.se