Sequoia Economic Infrastructure Income Fund celebrates 10 years since its IPO with a Market Closing Ceremony at the London Stock Exchange

Sequoia Economic Infrastructure Income Fund (SEQI) today closed the London Stock Exchange (“LSE”) market to mark ten years since its IPO. 

SEQI was admitted to the premium segment of the Official List on the LSE in March 2015 with a market cap of £150m, following an over-subscribed IPO. It was the first listed investment trust focused exclusively on economic infrastructure debt in mature, investment-grade rated jurisdictions, aiming to fill the shortfall between the capital that traditional lenders can provide and the requirements of many infrastructure projects. SIMCo (Sequoia Investment Management Company), the Investment Adviser, have provided portfolio management services to SEQI since inception. 

SEQI has grown its portfolio some 10-fold to over £1.4bn in the last ten years, becoming a member of the FTSE 250, utilising the proceeds from 11 well-supported capital raises to grow its portfolio of investments, generating high yields by lending against infrastructure projects and assets. In aggregate, SEQI has invested over £4.5 billion to fund more than 250 projects over the multiple credit cycles of the last decade. Their approach is truly global, reaching 15 jurisdictions and achieving high levels of diversification by lending across 40+ infrastructure sub-sectors, including many associated with the thematic evolution of decarbonisation, digitalisation and social benefits. 

James Stewart, Chairman of SEQI, commented:

“On behalf of the Board, I am delighted and proud to celebrate ten years since our IPO. SEQI’s strategy has remained attractive to investors and been successfully implemented over the last decade, meeting and growing our cash-covered dividend targets while weathering an extraordinary range of market conditions. We would like to thank the many people that have contributed to our achievements and our investors – present, past and future – for their commitment and support.”

Randall Sandstrom, CEO of SIMCo, added: 

“As we have grown the fund tenfold since 2015, our listing on the LSE has been a significant advantage. It has provided the flexibility to raise capital multiple times through our placing programme and to invest in the significant opportunities in the economic infrastructure debt market and create a flagship listed fund for the private credit market, while producing scale benefits for investors. The partners and team at SIMCo are proud to have brought this high income-generating asset class to a broad range of investors who might otherwise have found it difficult to access given the specialist nature of the origination and credit assessment skills needed.”