TORONTO, April 5, 2012 /CNW/ - Stonebridge Financial Corporation ("Stonebridge") is pleased to announce the successful closing of the Stonebridge Infrastructure Debt Fund I LP (the "Fund"), and commencement of the operations of the Fund, providing private debt loans for the construction and operation of infrastructure and energy assets.
The Fund is a closed-end fund developed in close cooperation with PBI Actuarial Consultants Ltd. ("PBI"), and with the support of PPP Canada Inc., and comprised primarily of Canadian pension funds as well as the Business Development Bank of Canada ("BDC"). Initial capital commitments for the Fund total approximately $150.0 million. A subsequent and final closing is planned for the latter part of 2012 to accommodate additional investor interest.
"Stonebridge is very proud of the closing of the Fund, providing Fund investors with access to a specialized segment of the debt market, and which will allow Stonebridge (as manager of the Fund) to leverage its market expertise, experience and relationships to generate high quality, predictable cash flows and premium returns, ideally suited for long-term, liability driven investors" said Robert Colliver, Co-CEO & Partner.
"This new fund addresses the shortage of private sector financing available for smaller infrastructure projects," said Yvon Jeghers, Vice President, Corporate Financing at BDC. "BDC is pleased to participate in this creative partnership with the private sector to improve credit availability for independent contractors in the Canadian infrastructure market."
Stonebridge Financial Corporation is a specialized financial services company with a proven reputation and expertise in arranging and structuring debt financings for syndication in the Canadian institutional marketplace, with a focus in the energy, infrastructure, and health care sectors. Stonebridge has arranged and syndicated over $2.2 billion of project debt financing. www.stonebridge.ca
PBI Actuarial Consultants Ltd. is an actuarial pension, benefits and investment consulting firm providing innovative, actuarially sound and cost-effective integrated solutions to fulfill our clients' pension and benefits needs. PBI has extensive experience in plan design, funding, administration, documentation and regulatory issues, investment policy, implementation, and risk monitoring and management. www.pbiactuarial.ca
PPP Canada Inc. is a Crown corporation established in 2009 with a mandate is to improve the delivery of public infrastructure by achieving better value, timeliness and accountability to taxpayers, through public-private partnerships. www.p3canada.ca
BDC, Canada's business development bank, puts entrepreneurs first. With almost 1,900 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital and consulting services to 29,000 small and medium-sized companies. Their success is vital to Canada's economic prosperity. www.bdc.ca
For further information:
Louis Bélanger, CFA, FRM
Stonebridge Infrastructure Debt Fund I LP