Swiss Life Funds (LUX) Privado Infrastructure S.A., SICAV-ELTIF (Privado) re-ports over EUR 125 million in investment volumes after the first year. As one of the first ELTIF 2.0 funds, it offers international private investors market access to an innovative and future-oriented asset class starting from an investment sum of EUR 1’000. The fund is fully invested and has already delivered a return of 3,5% (1), largely independent of market volatilities. It has a target return of more than 6 to 7% (2) p. a. over the long term. Its various distribution channels – via banks, independent financial advisors, platforms and life insurers in multiple European markets – helped it quickly achieve success in the market.
With the Swiss Life Funds (LUX) Privado Infrastructure S.A., SICAV-ELTIF, Swiss Life Asset Managers launched one of the first ELTIF 2.0 (European Long Term Investment Fund) infrastructure funds a year ago. The fund provides private and institutional investors in certain countries of the European Union and Norway as well as qualified investors in Switzerland as defined in Art. 10, cl. 3 and 3ter CISA (“Qualified investors”) access to an innovative andforward-looking asset class to further diversify their portfolio.
Over EUR 125 million investment volume on its one-year anniversary
After 12 months, an investment volume of over EUR 125 million was achieved. The portfolio, which consists of 31 investments from 5 sectors and 11 countries in Europe and North America, has already achieved a performance of 3.5%1. It has a target return of more than 6 to 7%2 p. a. over the long term. Given the diversified sales channels via banks, independent financial advisors, distribution platforms and life insurers in multiple European markets, it appeals to a wide range of investors.
“Privado is one of the first open-ended private infrastructure funds and targets various customer segments. This success shows that investors are seeking and taking advantage of the opportunity to diversify their portfolios and increase their risk-adjusted returns strategically,” explains Mark Fehlmann, Head Sales & Marketing and member of the Executive Committee of Swiss Life Asset Managers.
Infrastructure projects with long-term potential
The infrastructure fund invests directly and indirectly in transport networks, hospitals, schools, water treatment and supply plants, recycling companies, data centres and electricity or telecommunication facilities in OECD countries. These infrastructure projects meet needs that will remain in demand in the future and contribute to improving living and working environments and promoting economic efficiency. The need for infrastructure projects has increased enormously globally and is currently estimated to be USD 3.91 trillion3 per year. Population growth, economic expansion, and urbanisation mean this area will continue growing.
“At Swiss Life Asset Managers, we are convinced that great long-term potential exists here. At the same time, faced with the new challenges posed by climate change, we also see the need to make the necessary infrastructure affordable, socially equitable and environmentally sustainable,” adds Mark Fehlmann.
Multiple awards for unit-linked pension insurance
The fund has also attracted a lot of attention in the insurance industry. The Swiss Life Privado Policy, distributed by Swiss Life Germany, combines the advantages of unit-linked pension insurance with the advantages of ELTIFs as a retirement product. In September 2024, Swiss Life Privado Policy was named the winner of the Financial Advisors Award in the “Fund Policies” category at the “Cash. GALA”. The Policy received the bronze medal in the “Customer Experience” category from “Morgen & Morgen” and “Versicherungsmagazin” as part of the “Innovationspreis der Assekuranz (IdA) 24/25”. In April 2025, the “Euro” business magazine named the fund the “Best Insurance Innovation”.
Substantial interest outside Europe as well
Its broad diversification, attractive return, stable cash flows and low minimum subscription amount make Privado an attractive option for investors. The infrastructure fund is currently offered to eligible investors in European markets such as Switzerland, Germany, France or Italy. It is also planned to offer this fun in other markets.
Longstanding experience
Established in 2011, the Swiss Life Asset Managers Infrastructure Equity platform manages EUR 12 billion in AUM for its clients and partners. The team consists of over 70 investment specialists with an average of 20 years industry experience across the senior level. The platform has made over 75 infrastructure investments in private markets, via 15 solutions, across the energy, communications, transportation, regulated utilities, social infrastructure and renewable energy sectors.
For more information, please visit: www.privado-infrastructure.com
1 As at 30 April2025, unit class A EUR
2 Calculated according to the BVI method (excluding issuing commission, distribution immediately reinvested). Based on the long-term (> 10 years) investment horizon of the fund. Adjustments to the target return may result from changes in the individual markets or as a result of other influencing factors. Past performance and statements regarding the target return are not indicative of future returns.
3 Global Infrastructure Outlook to 2040