Alinda Capital Infrastructure will target a £350m fundraise in its upcoming November IPO, as it seeks to fund an investment pipeline of £485m.

It will target a placing and offer for subscription of ordinary shares at an issue price of 100 pence per share, with a placing programme to follow that will allow the trust to issue a further 650m ordinary and/or C shares in the 12 months from the prospectus publication date.

The company seeks to generate total returns of between 10-12% per annum through investment in core-plus, mid-market infrastructure and infrastructure-related opportunities globally.

It is also targeting an initial dividend of 3.5 pence per ordinary share in its first full financial year ending 31 December 2022, rising to 5 pence per ordinary share the following year.

This opportunity set will have an emphasis on transport and logistics infrastructure, utility-related and digital infrastructure, which the managers will seek to gain exposure to through methods including sub-sectors adjacent to traditional sectors and proprietary bilateral negotiation.

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