Maryland-based Ullico Investment Advisors has raised $1.4 billion for its Ullico Infrastructure Tax-Exempt Fund, a recent filing with the SEC shows.
The fund was backed by 120 investors. It requires a minimum investment of $1 million.
The fund aims to achieve attractive risk-adjusted returns with significant annual cash yield and relatively low volatility by building a diversified portfolio of equity investments with both minority and controlling interests.
According to the firm, the fund currently has investments in the utility and energy sectors and is exploring opportunities in all core sectors, including transportation and social infrastructure.
Ullico completed its first two infrastructure investment deals in 2013. The first of these investments was to make critical capital improvements to the water and wastewater infrastructure of Rialto, Calif. For the second infrastructure deal, Ullico acquired a minority stake in an operating wind farm in the United States.
In 2014, Ullico completed a third infrastructure deal as a lender to a solar power field owner.
