Ullico Bulletin

Ullico Continues to Invest in Infrastructure

The Ullico Infrastructure Fund (UIF) was established not only to generate competitive returns but also to assist in the investment, maintenance and refurbishment of the nation's infrastructure. Since 2012, it has made good on that promise, with 8 investments totaling $500 million.

"This year, the American Society of Civil Engineers rated U.S. infrastructure a D+, the same grade it gave in 2013. Clearly, there's a need for deliberate investment in infrastructure," says Edward M. Smith, President and CEO of Ullico Inc. "Ullico Infrastructure Fund (UIF) is doing its part to invest in core sectors while also creating union jobs."

Not long ago, UIF announced the closing of an $85 million equity investment in a portfolio of two wind and nine solar farms throughout the United States. The wind and solar farms are all contracted to sell power, capacity and renewable energy to investment-grade offtakers under longterm agreements.

One of the largest projects in the portfolio, the Springbok 1 and 2 solar farm in Kern County, California, created 600 direct union construction jobs and created significant union construction jobs which benefited the local community. The unemployment rate in Kern County was above 10% at the time, nearly double that of the statewide rate. Jim Elrod, the business manager for the International Brotherhood of Electrical Workers (IBEW) Local 428, was committed to adding local hires to the pool of electricians dispatched for both projects and achieved an outstanding result. "Nearly 200 of the 250 IBEW workers on the projects were hired locally from Kern County and many of the new hires have since been invited to join our apprentice program. We believe projects like Springbok can be a great economic driver for the local community while creating good union jobs for our members."

"Through this investment, Ullico demonstrates its commitment to projects that provide clean, low-cost energy across America," said Smith. "This investment will help to fulfill future energy needs while creating jobs for skilled workers."

NOTE: UIF is managed by Ullico Investment Advisors, Inc. (UIA) and is sold through Ullico Investment Company, LLC. (Member FINRA/SIPC), both subsidiaries of Ullico Inc. UIA is a registered investment adviser with the SEC under the Investment Advisers Act of 1940, as amended ("Act"). UIF will only be sold to "accredited investors" as that term is defined in Regulation D of the Securities Act of 1933. 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 high 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.

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