Stonebridge Financial Corporation has closed the Stonebridge Infrastructure Debt Fund I LP and begun operations, providing private debt loans for the construction and operation of infrastructure and energy assets.
The Fund is a closed-end fund developed in close cooperation with PBI Actuarial Consultants Ltd., and with the support of PPP Canada Inc., and comprised primarily of Canadian pension funds as well as the Business Development Bank of Canada (BDC). Initial capital commitments for the Fund total approximately $150. million. A subsequent and final closing is planned for the latter part of 2012 to accommodate additional investor interest.
“Stonebridge is very proud of the closing of the Fund, providing Fund investors with access to a specialized segment of the debt market, and which will allow Stonebridge (as manager of the Fund) to leverage its market expertise, experience and relationships to generate high quality, predictable cash flows and premium returns, ideally suited for long-term, liability driven investors” said Robert Colliver, co-CEO and partner.
“This new fund addresses the shortage of private sector financing available for smaller infrastructure projects,” said Yvon Jeghers, vice president, Corporate Financing at BDC. “BDC is pleased to participate in this creative partnership with the private sector to improve credit availability for independent contractors in the Canadian infrastructure market.”