Tri-Pillar Infrastructure Fund (TIF) is looking to raise £200m in an initial public offering (IPO) to invest in infrastructure in Europe and North America, in a departure from the investment remits of many existing infrastructure investment trusts listed on the London Stock Exchange. These tend to focus on UK infrastructure such as private finance initiative (PFI) and private public partnership (PPP) projects.
Tri-Pillar Infrastructure's managers will also aim to invest in assets that depend on revenues for usage and are subject to demand, and try to deliver greater value enhancement from these than is typically available from availability-based assets.
The Jersey domiciled investment company is targeting a dividend of 3.75p per share for its financial year ended 31 March 2019, and 4.5p for its year ending 31 March 2020. It will pay dividends twice a year, with the first one due in January 2019. Its board hopes to generate sustainable dividends, paying at least what was paid in the year before, with the prospect of increasing this.