Ullico Investment Advisors, Inc. ("UIA") established the Ullico Infrastructure Tax-Exempt and Taxable Funds ("UIF" or "Fund") to provide a vehicle for institutional investors to invest in the development, maintenance and refurbishment of infrastructure assets in the United States and Canada. The Fund's investment goal is to achieve attractive risk-adjusted returns with significant annual cash yield and relatively low volatility. UIA seeks to achieve this objective by building a diversified portfolio of equity investments with both minority and controlling interests.
As of December 31, 2020, UIA had reached financial close on 17 transactions, investing $2.34 billion of Fund commitments in a diversified portfolio of more than 440 infrastructure assets. These assets represent all major infrastructure sectors, including renewable generation, transportation, electricity transmission, gas transmission, fossil fuel generation, social infrastructure, water, and telecommunications.
One of the Fund's goals is to generate a cash yield for investors. Since the inception of the Fund in 2012, Fund investors have received distributions of approximately $55 million. In addition, a partial asset sale resulted in a special distribution to investors of an additional $130 million.
As an open end investment fund, UIA continues to accept investor commitments and make new investments. As of the end of December 2020, UIF had accepted commitments from over 200 investors representing committed assets of approximately $3.3 billion. For 2021, UIF has already reached commercial close on two new investments. For additional information on UIF, please contact one of our sales representatives.
Note: The Fund and the units issued will not be registered under the Securities Act of 1933, as amended, the Investment Company Act of 1940, as amended, or under state securities laws. Investment in infrastructure is speculative, not suitable for all investors, and should be undertaken only by experienced and sophisticated investors who are willing to bear the risks of such an investment, which include, but are not limited to, lack of liquidity, restrictions on transferring ownership to the Fund, absence of information regarding valuation and pricing, and high fees and expenses. Potential investors in the Fund should carefully read the Confidential Private Placement Memorandum for a description of the potential risks associated with investment in the Fund.