Fund database › Infrastructure
Commerz RealLU3225203366Class A
klimaVest's younger sister fund broadens the concept: diversified infrastructure with a German focus through direct investments, co-investments and fund building blocks, as an ELTIF 2.0, launched in 2025, distributing.
Subscribable daily, but with an entirely different exit mechanism than its big brother: monthly redemption only after the initial lock and with a full year's notice — the first de-facto exit lies years after launch. Capped through the available liquid assets.
No meaningful minimum investment — the lowest entry hurdle in the database — for all investor groups with a long horizon; distribution in Germany and neighbouring markets.
Same provider group, opposite philosophy: where klimaVest offers daily liquidity, infraVest demands property-fund patience. Comparing the two shows most clearly that "ELTIF" is not a liquidity class but merely a legal framework.
Figures for class A (LU3225203366) · product data 24 Sep 2026 · sources: prospectus (as at 12/2025 (prospectus); KID 2 Dec 2025), PRIIPs-KID — full list under 08 documents.
Since the data series began in Dec 2025, the unit price has gained 0.5% (cumulative, 0.6 years). The series is still short; valuations of private holdings arrive quarterly and smoothed.
23 monthly values, 6 derived from monthly returns · Source: secondary source (data portal) · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results.
What the prospectus permits: Direct and indirect majority or minority interests in infrastructure companies, co-investments as well as interests in infrastructure target funds; complemented by liquid assets; derivatives for hedging purposes only.
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
1 holding; the largest are ATC Europe C.V. (via Borealux S.à r.l. / AZ Wavelink SCSp), Rotonda Rail SCSp (Railpool GmbH). 72.8% is held in the liquidity reserve.
Focus according to fund documents: Infrastructure (not broken down) 100%
Focus according to fund documents: Germany 60%, Europe, other 30%, Other / unallocated 10%
Among the largest positions: 1 co-investment, 1 GP-led secondary.
ATC Europe is the European tower platform of the listed American Tower Corporation, with more than 30,000 sites in Germany, France and Spain …
Railpool (Munich) leases around 500 electric locomotives, including Siemens Vectron and Alstom Traxx …
Positions and shares according to the provider; weights of the holdings are not reported; short descriptions by semiliquid.info from public sources; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 2.42%, class A is close to the median of the asset class (2.42%). On top comes a performance fee of 20% above a hurdle of 4% — without a high-water mark.
For 10,000 EUR this means roughly 242 EUR per year.
For 10,000 EUR, a one-off up to 500 EUR on purchase.
Based on the PRIIPs key information document of class A, hence comparable across providers. Median: 25 Infrastructure funds in this database, data run 16 Oct 2026.
Units can be subscribed daily. The price is the NAV on the valuation day — it is not known when the order is placed.
Issue only after completion of the identity verification.
the cut-off for requests is stated on the management company's website and may be amended …
Price = NAV per share on this day.
NAV on each valuation day (bank business day); the assets may be valued only quarterly or …
An order placed today is invested in — days (—). Miss the cut-off and you move to the next dealing day: cut-off —, invested from —.
Shown without a date because the prospectus does not quantify: NAV publication, payment. The remaining markers are calculated from the prospectus rules.
| Frequency | daily |
|---|---|
| Procedure | optional instalments |
| Valuation day | every bank business day |
| Cut-off | no lead time · 16:00 CET · (before the anchor date) |
| Price | valuation day |
| NAV publication | NAV on each valuation day (bank business day); the assets may be valued only quarterly or less frequently, at least annually. |
| Payment | after NAV publication: 2 weeks after order placement |
| Minimum investment | none |
| Entry charge (max.) | 5% (distributor) |
| Subscription limit | The issue may be discontinued temporarily or entirely; no issue where redemptions are suspended on account of exceptional circumstances, but issue remains possible where redemptions are suspended for … |
| KYC / documents | Issue only after completion of the identity verification; missing documentation leads to delay or cancellation |
| Revocation | Retail investors: withdrawal within 2 weeks of subscription/order, repayment without deductions |
| Business day | Bank business day: any day (other than Saturday, Sunday, 24 and 31 December) on which the banks in Luxembourg and Germany are open (p. 8) |
Dates calculated from the prospectus rules (bank holidays: DE, LU); only the transfer agent’s confirmation is binding. Data as at 24 Sep 2026 · Documents: 08.
Units can be redeemed monthly — with a volume limit (Gate), lock-up 12 months. How quickly the money arrives and what happens if many want out at once is set out below.
Redemption notice may be given only one year after the inception date.
Price = NAV per share on this day.
max. 50% of the available liquid investments per date
redemption day
A request made today is paid out on — — — days; from the cut-off to cash it is — days.
Shown without a date because the prospectus does not quantify: NAV publication. The remaining markers are calculated from the prospectus rules.
Money typically only after more than a year — on average 445 days from decision to cash.
Rank 70 of 112 · rank 9 of 23 in Infrastructure · 2 months lock-up · no fixed redemption fee
Money typically only after more than a year — on average 384 days from decision to cash.
2 months lock-up — expired for existing holdings · no fixed redemption fee
Confidence high — prospectus complete, dates calculated, no assumptions in the value · prospectus as at 2 Dec 2025 · score run 16 Oct 2026 · How 445 days become 18 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | redemption right |
|---|---|
| Frequency | monthly |
| Valuation day | last business day of the month |
| Notice | 12 months before redemption day · 16:00 CET |
| Price | valuation day |
| Payout | 2 business days after redemption day |
| Gate | 50% of available liquidity per redemption day; the minimum liquidity reserve of 5% of NAV does not count towards available liquidity, but may be fallen below at … |
| Scaled-back portion | carried forward automatically to the next dealing day |
| Redemption fee (max.) | 0% |
| Lock-up | fund-level, 12 months (the constitutive documents) |
| Suspension | Emergency/market closed, valuation impossible, transfer restrictions; in addition, redemption requests exceeding 40% of the minimum liquidity reserve |
| Liquidity tools | Gate of 50% of available liquidity, suspension of redemptions and of the NAV calculation, 12 months' notice period, 1 year fund lock-up. |
| Switch / transfer | Transfer of fully paid-in units to Qualified Investors with a securities account is possible. |
| Compulsory redemption | compulsory redemption in the best interests of the fund; ineligible person subject to 15 calendar days' notice. |
max. 50% of the available liquid investments per date
Limit on the available liquidity, not on the NAV. To be distinguished: the 50% of net asset value in the same prospectus is the BORROWING LIMIT.
Dates calculated from the prospectus rules (bank holidays: DE, LU); only the transfer agent’s confirmation is binding. Data as at 24 Sep 2026 · Documents: 08.
2 classes. All cost and risk figures on this page refer to the basis class A.
PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Key information document (PRIIPs KID) | 2 Dec 2025 | — |
| Annual / semi-annual report | 31 Mar 2026 | — |
| Prospectus | Dec 2025 | — |
| Key information document (PRIIPs KID) | Mar 2026 | — |
| NAV series secondary source (data portal) | 25 Aug 2026 | Performance (01) |
| Positions and reserve | 31 Mar 2026 | Portfolio (03) |
All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.
Redemption monthly, notice period 12 months before redemption day, with 50% gate per redemption day. Subscribing today, it takes on average 445 days from decision to cash under the prospectus deadlines; a gate is not factored in.
Ongoing costs of 2.42% p.a. according to the PRIIPs KID for class A; the median of the Infrastructure funds in this database is 2.42%; plus a performance fee of 20%.
1 EUR in class A.
Yes. According to our evidence, the fund is open to retail investors in Germany (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the infraVest ELTIF. Under the prospectus a gate of 50% per redemption day applies.
Same asset class, similar sub-strategy.
Allianz Capital Partners GmbH · ELTIF 2.0 · quarterly
EQT AB / EQT Global Wealth Solutions · ELTIF 2.0 · quarterly
PATRIZIA · ELTIF 2.0 · quarterly
UBS Asset Management Switzerland AG · ELTIF 2.0 · quarterly
Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.