Fund databaseInfrastructure

PATRIZIA Infrastructure Invest

PATRIZIA · LU2886115216

ELTIF 2.0 Infrastructure Luxembourg; supervisor: Commission de Surve Article 8 16 share classes ↓ Co-Investments Primaries / Target Funds Infrastructure Debt

NAV · 31 Jul 2026105.24 EUR
Fund currencyEUR
Income treatmentdistributingclass tracked, verified
Performance since Nov 2024 p.a.+3.1%Class AD
Ongoing costs2.10% p.a.
Min. investment
Redemptionquarterly
Risk (SRI)3 / 7

01Performance

Unit price (NAV) in EUR · share class AD · 15 data points

105.24 EURNAV as at 31 Jul 2026
97.599.9102.4104.8Nov 2024Sep 2025Dec 2025Apr 2026Jul 2026
Source: Price feed from the management company all values documented from primary sources
YTD+4.1%
1 year+6.3%
since Nov 2024 p.a.+3.1%

Calendar-year returns

Calendar years, calculated from the NAV series

+1.1%2025+4.1%2026 YTD

Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and the trading costs of reinvestment are not taken into account. Past performance is not a reliable indicator of future results.

Provider figures

These come from the factsheet, the PRIIPs KID or the monthly report. They may relate to a different reference date, a different share class or a longer period than the series above — the series starts with the first documented unit price, not necessarily with the launch. That is why the values sometimes differ.

Performance 12M0.91%

Target return per the provider: > 8 % p.a. target total return (forecast, after deduction of fund costs and fees, before individual taxation; based on the distributing share class AD and a holding period of 7 years). KID moderate scenario: 9.26 % p.a. over 7 years

Provider figure or KID scenario — not a forecast by semiliquid.info. Target returns are not guaranteed.

02Strategy & portfolio

What the fund does and how the portfolio is put together.

Launch year2025
Fund size
CurrencyEUR
Income treatmentboth
SFDRArticle 8
Recommended holding
Liquidity buffer5.00%
Leverage limit

Risk indicator 3 of 7 from the key information document (1 = low, 7 = high); it captures liquidity risks only to a limited extent.

Portfolio breakdown

Broken down using semiliquid’s common taxonomy — provider labels are mapped onto shared categories so that funds can be compared. Only published figures are used; nothing is estimated.

Sector breakdown

Actual portfolio% of fund assetsas at 31 Dec 2025

Waste & recycling87.5%
Cash & cash equivalents12.5%
Source: PATRIZIA — 'PATRIZIA Infrastructure Invest SICAV-SCA, SICAV-ELTIF, Annual Report 2025', S. 28 · Document

Geographic breakdown

Approximation (qualitative)% of fund assetsas at 31 Dec 2025

Italy87.5%
Other / unallocated12.5%
Source: PATRIZIA — 'PATRIZIA Infrastructure Invest SICAV-SCA, SICAV-ELTIF, Annual Report 2025', S. 11 · Document

Strategy

Co-Investments Primaries / Target Funds Infrastructure Debt

Equity investments (infrastructure equity) and lending (infrastructure debt) via direct investments/co-investments and holdings in target funds (acquired on the primary or secondary market); target funds from PATRIZIA's institutional range with assets already onboarded

Portfolio composition

'The company may invest directly or indirectly in all alternative asset classes, including infrastructure (equity and debt instruments) with a geographical focus on, among others, Europe and the OECD.' ELTIF ratio: at least 55 % of capital in eligible investment assets (equities/equity-like instruments of qualifying portfolio undertakings, debt instruments, loans, units in ELTIFs/EuVECAs/EuSEFs/UCITS/EU AIFs, real assets, STS securitisations, EU green bonds) - except during the ramp-up phase, the wind-down period and any suspension period. No securities financing transactions; no benchmark within the meaning of the Benchmark Regulation
Source: Prospectus 30 Jun 2025, sections 2 and 3.2

03Costs

The basis is the PRIIPs KID of the share class we track — which makes it comparable across providers.

Management fee1.80%
Total ongoing costs2.10%
Entry charge max.5.00%
Redemption fee0.00%
Performance fee0.00%
Hurdle rate0.00%
High-water marknot documented

In context: ongoing costs

This fund
2.10%
Median Infrastructure
2.10%

Median across 19 funds in this asset class in our database, based on the PRIIPs KID. No statement about quality — cost structures differ depending on the strategy and on target-fund layers.

How the performance fee works

Not applicable - no performance fee, no hurdle, no catch-up, no high-water mark, no performance participation allocation at fund level. Note: at the level of the PATRIZIA target funds in which the ELTIF invests, carried interest/performance arrangements may exist; no public information on this (not documented)

Costs per the key information document

Up to 2.1 % p.a. management fees and other administrative/operating costs + 0.1 % p.a. transaction costs (PRIIPs KID class AD, as at 28 Jan 2025; an estimate, as the share class has not yet been in existence for a year); annual cost impact 3.0 % p.a. over a 7-year holding period

04Subscription & entry

How you get into the fund, and on what terms.

Subscriptionmonthly
Minimum investmentnot documented
Entry chargeup to 5.00%
Rec. holding periodnot documented

Subscription per the document

Not quantified in the fund documents available.

Source: Prospectus 30 Jun 2025

05Redemption & liquidity

Semi-liquid means redemption only on fixed dates, with notice periods and upper limits. This is how it works for this fund — in the order the redemption process runs.

Units can be redeemed quarterly; notice must be given 360 days before the date; on each date the fund redeems at most 5 % of fund assets; for the first 36 months after subscription no redemption is possible.

1 · Lock-up36 months from subscription
2 · Notice period360 days before the date
3 · Redemption datequarterly
4 · Gatemax. 5 % per date
5 · Payout20 days after the date

The gate caps redemptions at 5 % of fund assets per date. If more investors want out at the same time, orders are scaled back pro rata or deferred to the next date.

From the notice being received to the money reaching your account: typically around 380 to 472 days — depending on how far away the next redemption date is. If the gate bites or redemptions are suspended, it can take considerably longer.

Redemption per the document

Quarterly - 'The first redemption date is the last business day of the calendar quarter following the third (3rd) anniversary of the acceptance of the first subscription application for shares in the company'. Redemption requests are executed at the redemption price within one (1) month of the relevant redemption date

Source: Prospectus 30 Jun 2025, section 8.1 'Redemption process'

Gate per the document

TRIPLE GATING MECHANISM, now quantified: the company will reduce the volume of redemption requests to the relevant cap where the total value of the requests exceeds (i) fifty per cent (50 %) of the company's liquid assets on the redemption date or (ii), on a quarterly basis, five per cent (5 %) of the net asset value (determined on the redemption date), or (iii) where the liquid assets amount to less than 5 % of NAV or would fall below that level as a result of redemptions. The management may in its sole discretion permit a higher percentage. The reduction is applied pro rata to all applicants. Redemption requests that are not accepted are AUTOMATICALLY resubmitted on the next possible redemption date; there is NO cap on the number of resubmissions. In addition: suspension of redemptions if the determination of the NAV is suspended Additionally capped at 50 % of the liquid investments available on the redemption date.

Source: Prospectus PATRIZIA Infrastructure Invest (ELTIF), as at 30 Jun 2025, section 8.1

Notice period

'The notice period is at least twelve (12) months before the relevant redemption date.' Redemption requests must be IRREVOCABLE and must reach the registrar and transfer agent within the notice period; late requests are processed on the next redemption date at the redemption price then applicable

Source: Prospectus 30 Jun 2025, section 8.1

Lock-up

Lock-up period: 'The first redemption date is the last business day of the calendar quarter following the third (3rd) anniversary of the acceptance of the first subscription application for shares in the company ("lock-up period")'. Combined with the 12-month notice period, this produces an effective capital commitment of around four years from initial subscription

Source: Prospectus 30 Jun 2025, section 8.1

Liquidity score: 2.9 of 5

Redemption frequency
3 / 5 · 40 %
Gate / redemption cap
3 / 5 · 25 %
Notice period
1 / 5 · 20 %
Redemption fee
5 / 5 · 15 %

The score measures only the contractual redemption mechanics (the higher, the more flexible) — not whether the fund actually stays liquid under stress. Weightings in per cent.

06Share classes

16 classes known. All cost and risk figures on this page apply to LU2886115216.

ISINStatusMin. investmentOngoing costsSRI
LU2886115216basis of this pagenot documented2.10%3/7
LU2886115307not yet collectednot documentednot documentednot documented
LU2886115489not yet collectednot documentednot documentednot documented
+ 13 more share classes
ISINStatusMin. investmentOngoing costsSRI
LU2886115562not yet collectednot documentednot documentednot documented
LU2886115646not yet collectednot documentednot documentednot documented
LU2886115729not yet collectednot documentednot documentednot documented
LU2886115992not yet collectednot documentednot documentednot documented
LU2886116024not yet collectednot documentednot documentednot documented
LU2886116297not yet collectednot documentednot documentednot documented
LU2886116370not yet collectednot documentednot documentednot documented
LU2886116453not yet collectednot documentednot documentednot documented
LU2886116537not yet collectednot documentednot documentednot documented
LU2886116610not yet collectednot documentednot documentednot documented
LU2886116701not yet collectednot documentednot documentednot documented
LU2886116883not yet collectednot documentednot documentednot documented
LU2886116966not yet collectednot documentednot documentednot documented

Costs, minimum investment and risk can differ markedly by class — check the key information document of the specific class before subscribing.

07Fund details & verification

Who stands behind the fund, who it is authorised for — and what the figures rest on.

AIFM / management company

The general partner manages the business and has delegated portfolio management and risk management to the AIFM (the AIFM's name is not stated in the text extract; AIFM agreement for an indefinite period, terminable by either side on 6 months' notice; removal possible by shareholder resolution with a 50 % quorum and a two-thirds majority). Portfolio manager: PATRIZIA Infrastructure Ltd. Central administration agent as well as registrar and transfer agent: Brown Brothers Harriman (Luxembourg) S.C.A. Legal form: SICAV in the form of a partnership limited by shares (societe en commandite par actions), RCS Luxembourg B291216, Part II of the 2010 Law

Source: Prospectus 30 Jun 2025, sections 1.1, 1.5, 1.6 and 1.7

Depositary

Brown Brothers Harriman (Luxembourg) S.C.A. - a credit institution within the meaning of Luxembourg law, also central administration agent as well as registrar and transfer agent

Source: Prospectus PATRIZIA Infrastructure Invest (ELTIF), as at 30 Jun 2025, Definitions and section 1.6

Launch date

Launch/market introduction in March 2025; PRIIPs KID prepared on 28 Jan 2025

BaFin database

Listed as “Patrizia Infrastructure Invest“ · fund type: EU/foreign ELTIF, open-ended, all investors · ID 70172415

Source: ESMA ELTIF register (Art. 3(3) ELTIF Regulation), as at 31 Jul 2026

Eligible investors

As a partnership limited by shares there are two categories: the general partner (unlimited liability) and the limited shareholders (ordinary shares, liability limited to the shares subscribed). Equal-treatment requirement for retail investors: 'All investors in a share class distributed to retail investors are treated equally and not preferentially.' Not suitable for investors 'seeking a liquid open-ended structure that permits redemption at any time'; investors must be able to bear a long-term and illiquid commitment. Compulsory redemption in the case of 'excluded persons' with at least 10 business days' notice

Source: Prospectus 30 Jun 2025, sections 1.1, risk warnings and 8.2

Distribution authorisation

Retail investors: Germany, Luxembourg, Italy. Professional investors additionally: France, Spain, Netherlands, Belgium, Sweden, Finland, Denmark, Austria, Switzerland (according to the country selection in the investor access area of the fund website)

Fee layers / double charging

Two layers: (1) fund level (AIFM Universal-Investment-Luxembourg S.A., portfolio management outsourced to PATRIZIA Infrastructure Ltd.) and (2) target-fund level - the ELTIF expressly invests via 'direct investments and holdings in target funds', in particular in institutional PATRIZIA target funds. Fees of these (in-house) target funds arise in addition; an offset/rebate is not documented (not documented) - potential double charging within the PATRIZIA group. In addition, infrastructure debt investments are made directly

All figures come from our analysis of provider documents (product data as at 19 Aug 2026, distribution data as at 12 Aug 2026) and have not been conclusively verified.

Similar funds

Same asset class, sorted by overlap of sub-strategy — no recommendation, no ranking.

Important information. semiliquid.info does not provide investment advice and makes no recommendation to buy, sell or hold fund units — no ranking, no offer, no invitation to subscribe. Only the prospectus and the key information document (PRIIPs KID) of the respective fund are authoritative. We give no warranty for the accuracy, completeness or currency of the information. Semi-liquid funds invest in illiquid assets: redemptions are possible only to a limited extent and can be capped, deferred or suspended; there is a risk of total loss. Past performance is not a reliable indicator of future results. Read the prospectus and the key information document before making an investment decision and seek professional advice where appropriate.