Quoted UK Infrastructure and Renewable Energy ‒ A year of trials and tribulations
Only Cordiant and Pantheon buck the trend...
For the remaining 29 quoted Infrastructure Investment Companies (IICs) and the Renewable Energy Infrastructure Funds (REIFs), 2024 was a dire year ‒ as was 2023. NAV discounts widened appreciably, while some REIFs, in particular, really struggled.
During 2024, there were several “Continuation/Discontinuation Votes”, which saw some funds enter Managed Wind Down. Furthermore, there were no major sector fund-raises during the year; instead, share buybacks prevailed. And, there were no sector IPOs ‒ the last was back in 2021.
Nevertheless, most f...