Overview
NB THIS FUND IS NO LONGER AVAILABLE THIS INFORMATION IS PROVIDED FOR HISTORICAL RESEARCH ONLY
GCP Sovereign Infrastructure Debt’s investment objective is to provide investors with regular, sustained, long term distributions and to preserve the capital value of its investment assets over the long term. Once fully invested, the Company will target an annualised dividend yield of the higher of: 3 month US.$ Libor plus 6 to 7 per cent.; and 7 per cent.
GCP Sovereign Infrastructure Debt is seeking to meet its investment objective by investing primarily in subordinated infrastructure debt secured against infrastructure projects in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (together the “GCC Region”). The Company is predominantly seeking exposure to operational projects whose revenue streams are sovereign-backed and do not generally depend on the level of use of the underlying asset.
GCP Sovereign Infrastructure Debt is primarily seeking exposure to floating rate loans, issued in U.S.$, where the coupon received will vary with, and is periodically adjusted to reflect changes in, a generally recognised base interest rate, which is expected to be primarily three month U.S.$ Libor.
News
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18 Jun 2014
GCP Sovereign Infrastructure : GULF - to wind up
Having struggled to make any investments, GCP Sovereign Infrastructure has talked to 92% of its shareholders (by votes) and has agreed that it will seek to wind up the company and cancel its admission to the Specialist Funds market. The manager, GCP, will make a contribution to cover all the expenses of the initial offer […]
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13 Jun 2014
GCP Sovereign Infrastructure : GULF - future of the fund
GCP Sovereign Infrastructure has released a statement to update shareholders on the difficulty of investing its IPO proceeds. They say that “Whilst the Company has reached substantive agreement with Borrowers in relation to transactions in a total size of c$100m, the due diligence process has highlighted risks which GCP believes would take such transactions outside […]
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15 May 2014
GCP Sovereign Infrastructure Debt : GULF - interim management statement
GCP Sovereign Infrastructure Debt has released its IMS covering the period from 19 December 2013 to 15 May 2014. Normally we don’t bother to comment on these but in this case it is interesting that GCP Sovereign Infrastructure Debt has failed to conclude any investments since launch – they say down to an unfamiliarity of […]
