Everbright Overseas Infrastructure Investment Fund, L.P. Completes Its First Closing
to target overseas infrastructure opportunities and echo Belt and Road Initiative
Everbright Overseas Infrastructure Investment Fund L.P. (“Fund”), a private equity fund sponsored and managed by China Everbright Limited (“CEL”, stock code: 165.HK), has completed its first closing on June 27, 2017 with US$300 million commitment. The Fund has a target size of US$1 billion, and is currently in talks with a number of professional investors and financial institutions.
As part of the first closing of the Fund, CEL injected its shareholding interests in Tirana International Airport SHPK (“TIA”), the international airport in Albania, into the Fund on July 14, 2017. The acquisition of 100% shareholding interests in TIA was completed in October 2016 and TIA has delivered sound financial results. CEL plans to inject their investment interests in an optic fibre network provider in Hong Kong into the Fund in the near future. The Fund continues to identify and invest in sound opportunities across diverse sectors and geographies, echoing China’s “One Belt One Road” initiative, with the objective of bringing investors with a balance between risk-adjusted return and stable cash yield.
The Fund will primarily invest in equities and equity-linked securities of infrastructure related companies globally giving rise to a controlling or significant minority interest. The targets will generally have proven operational track record and a sound business model, with solid growth and stable cash income. The Fund expects to invest in targets that focus on transportation, telecommunication, renewable energy, car parking and other social infrastructure, oil & gas pipeline and storage, as well as utilities sectors. The Fund will strive to create shareholder value through a full range of levers, including strategic plans execution, operational improvement initiatives, realignment of capital structure and bolt-on acquisitions, to assist the investees in expanding their businesses and achieve higher efficiency.
The Fund is available only for investment by professional investors (as defined under the Securities and Futures Ordinance). Investment involves risks. Fund price may move up or down. Past performance of any fund and securities is of no guide to future performance. Professional investors should refer to the offering documents (including the risk factors) before investing.
As part of the first closing of the Fund, CEL injected its shareholding interests in Tirana International Airport SHPK (“TIA”), the international airport in Albania, into the Fund on July 14, 2017. The acquisition of 100% shareholding interests in TIA was completed in October 2016 and TIA has delivered sound financial results. CEL plans to inject their investment interests in an optic fibre network provider in Hong Kong into the Fund in the near future. The Fund continues to identify and invest in sound opportunities across diverse sectors and geographies, echoing China’s “One Belt One Road” initiative, with the objective of bringing investors with a balance between risk-adjusted return and stable cash yield.
The Fund will primarily invest in equities and equity-linked securities of infrastructure related companies globally giving rise to a controlling or significant minority interest. The targets will generally have proven operational track record and a sound business model, with solid growth and stable cash income. The Fund expects to invest in targets that focus on transportation, telecommunication, renewable energy, car parking and other social infrastructure, oil & gas pipeline and storage, as well as utilities sectors. The Fund will strive to create shareholder value through a full range of levers, including strategic plans execution, operational improvement initiatives, realignment of capital structure and bolt-on acquisitions, to assist the investees in expanding their businesses and achieve higher efficiency.
The Fund is available only for investment by professional investors (as defined under the Securities and Futures Ordinance). Investment involves risks. Fund price may move up or down. Past performance of any fund and securities is of no guide to future performance. Professional investors should refer to the offering documents (including the risk factors) before investing.
