Fund database › Infrastructure
Swiss Life Asset ManagersLU2724512657Class A EUR dist EUR
The Privado ELTIF builds a broadly diversified OECD infrastructure portfolio from direct investments and target funds — from the infrastructure heavyweight of the insurance world, as an ELTIF 2.0, launched in 2024, distributing, with no performance fee.
Monthly subscription; quarterly redemption with a good month's notice; the limit is staggered three ways per quarter, per year and against the liquid assets, with unfilled orders carried forward. No minimum holding period; a moderate redemption fee acts as a soft lock.
Subscription from EUR 1,000 — one of the lowest thresholds in the field — for advised retail investors; registered in sixteen countries, including Germany.
Insurer DNA in a retail ELTIF: a conservative fee structure, staggered rather than hard limits, a low entry hurdle — built for broad advised distribution, not for opportunistic capital.
Figures for class A EUR dist EUR (LU2724512657) · product data 12 Oct 2026 · sources: prospectus (as at 2 Feb 2026), PRIIPs-KID, Factsheet — full list under 08 documents.
Since the data series began in May 2024, the unit price has gained 5.2% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.
36 monthly values, 8 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. The fund has been running since Apr 2024; a reliable NAV series of the class is available from May 2024.
What the prospectus permits: Core 66%, Core+ 21%, value-add 13% (31 Mar 2025); focus on brownfield (already built/in operation), small greenfield share to enhance returns and provide diversification
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
7 holdings; the largest are Trianel Borkum I wind farm, Infrareal, Flamingo Crossings. 11.1% is held in the liquidity reserve — enough for 7 months of maximum redemptions.
How the reserve is invested: Swiss Life Funds (F) ESG Money Market Euro I 6.1%. It covers 7 months of the maximum net redemption (at most 20% per year under the gate) — what that means for redemptions is in 06.
Among the largest positions: 3 equity holdings.
Offshore wind farm about 45 km north of the island of Borkum in the German North Sea, whose first phase with 40 turbines and 200 MW has been operating since 2015.
Positions and shares according to the provider; weights of the holdings are not reported; short descriptions by semiliquid.info from public sources; holdings as at 26 Sep 2026, reserve as at 31 Dec 2025; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 1.80%, class A EUR dist EUR is well below the median of the asset class (2.42%). There is no performance fee.
For 1,000 EUR this means roughly 18 EUR per year; the cheapest class with a cost figure is D EUR dist (1.60%, from 1,000,000 EUR).
For 1,000 EUR, a one-off up to 50 EUR on purchase and up to 25 EUR on redemption.
Based on the PRIIPs key information document of class A EUR dist EUR, hence comparable across providers. Median: 25 Infrastructure funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The prospectus does not fix a determinable dealing day; the sequence is therefore shown as a rule, without dates.
if the 5th does not fall on a business day, the immediately preceding business day …
Price = NAV per share on this day.
No date can be calculated from the captured rules — a determinable valuation day is missing. Shown are the prospectus figures.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Valuation day | special rule, see prospectus |
| Cut-off | 15:00 CET · (fixed calendar day) |
| Price | valuation day |
| NAV publication | Valuation Day = end of each calendar month; no deadline for making the NAV available is stated in the prospectus |
| Payment | after NAV publication: 12 business days after Valuation day |
| Minimum investment | EUR 1,000 |
| Entry charge (max.) | 5% (distributor) |
| Subscription limit | Acceptance or rejection in whole or in part at the discretion of the fund; rejection in the case of Prohibited Persons; no quantitative cap |
| Revocation | Retail: cancellation within 2 weeks of signing the Subscription Request; not otherwise governed |
| Business day | a day on which banks are fully open for business in Luxembourg (p. 65) |
Data as at 12 Oct 2026 · Documents: 08.
Units can be redeemed quarterly — with a volume limit (Gate) and without a lock-up. How quickly the money arrives and what happens if many want out at once is set out below.
Redemption right under Art. 18(2) ELTIF Regulation from the end of the Ramp-up Period (ended on 30 Oct 2025) …
NAV per unit less redemption fee (up to 2.5%)
Quarterly redemption with a triple cap: 5% of NAV per three-month period, 15% of NAV per twelve-month …
valuation day
A request made today is paid out on — — — days.
Shown without a date because the prospectus does not quantify: cut-off, NAV publication. The remaining markers are calculated from the prospectus rules.
No liquidity score — the prospectus figures are not sufficient for a calculation.
The score needs a quantified redemption frequency, notice period and payout rule; as soon as the prospectus provides them, it is calculated.
| Character | redemption right |
|---|---|
| Frequency | quarterly |
| Valuation day | quarter-end |
| Notice | 15:00 CET · (fixed calendar day) |
| Price | quarter-end |
| Payout | 15 business days after valuation day (latest 15 business days) |
| Gate | 5% of NAV on the redemption day per quarter; in addition max. 15% of NAV per 12-month period; ELTIF limit 27.3% of the assets under. |
| Scaled-back portion | scaled-back portion lapses; new request required, no priority |
| Redemption fee (max.) | up to 2.5% |
| Lock-up | fund-level (fund authorisation) |
| Suspension | Closure or restriction of relevant markets; political, economic or military emergency; NAV of the target funds cannot be determined or repatriation disruption |
| Liquidity tools | Redemption gate 5% per quarter and 15% p.a.; Anti-Dilution Levy/Redemption Discount; suspension or deferral of redemption with quarterly review. |
| Switch / transfer | in principle freely transferable under Art. 19(2) ELTIF Regulation; entry in the register of units; admission to a regulated market or MTF possible. |
| Compulsory redemption | Prohibited Persons; breach of FATCA/CRS obligations; non-payment of the subscription price; falling below the minimum holding; late trading or market timing |
Quarterly redemption with a triple cap: 5% of NAV per three-month period, 15% of NAV per twelve-month period and 27.3% of the liquid investments under Art. 50(1) of the UCITS Directive. Scale-back is pro rata; the unsatisfied portion is carried forward to the next valuation day and satisfied there with priority over later requests.
Three limits apply alongside one another, the one that binds in each case governing: 5% of NAV over any three-month period, 15% of NAV over any twelve-month period (in each case irrespective of any redemption charge applied) and 27.3% of the liquid investments under Art. 50(1) of the UCITS Directive.
Dates calculated from the prospectus rules (bank holidays: LU); only the transfer agent’s confirmation is binding. Data as at 12 Oct 2026 · Documents: 08.
11 classes. All cost and risk figures on this page refer to the basis class A EUR dist EUR; the cheapest class with a cost figure is D EUR dist (1.60%, from 1,000,000 EUR).
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) | 8 Oct 2025 | — |
| NAV series secondary source (data portal) | 31 Aug 2026 | Performance (01) |
| Positions and reserve | 26 Sep 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 quarterly, with 5% gate per quarter.
Ongoing costs of 1.80% p.a. according to the PRIIPs KID for class A EUR dist EUR; the median of the Infrastructure funds in this database is 2.42%; no performance fee.
1,000 EUR in class A EUR dist EUR.
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 Swiss Life Funds (LUX) Privado Infrastructure. Under the prospectus a gate of 5% per quarter applies.
Same asset class, similar sub-strategy.
Aquila Capital Investmentgesellschaft mbH · ELTIF 2.0 · monthly
Allianz Capital Partners GmbH · ELTIF 2.0 · quarterly
Blackstone · ELTIF 2.0 · quarterly
Brookfield Asset Management · Part II SICAV · quarterly
Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.