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Union InvestmentLU2669726957
UniPrivatmarkt Infrastruktur was the first broadly diversified infrastructure ELTIF for retail investors in Germany: secondaries and co-investments across Europe, North America and emerging markets, launched in 2023, distributing, with no performance fee.
Monthly redemption at month-end — but only after a two-year minimum holding period and with one year's notice; the volume is limited by the liquid assets. The fund traditionally holds a high liquidity reserve.
Subscription from EUR 10,000 for retail investors with a long horizon, recommended holding period seven years; distributed through the Volksbanken network in Germany and Austria.
The pioneer of German bank distribution in this asset class — with the liquidity logic of open-ended property funds that its target group knows. The high liquidity quota smooths and dilutes at once: investors seeking a pure private-markets quota find more of it elsewhere.
Figures for class — (LU2669726957) · product data 26 Sep 2026 · sources: prospectus (as at management regulations with effect from 31 Jul 2025), PRIIPs-KID — full list under 08 documents.
Since the data series began in Jan 2024, the unit price has gained 6.5% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.
42 monthly values, 11 derived from monthly returns · Source: secondary source (data portal) · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results. The fund has been running since Dec 2023; a reliable NAV series of the class is available from Jan 2024.
What the prospectus permits: Essentially direct investments in the form of co-investments together with other investors, alongside investments in secondary market funds; focus on standing assets (brownfield) with robust cash flows and partial inflation protection.
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
29 holdings; the five largest account for 20.3% of the fund. 20.6% is held in the liquidity reserve.
Among the ten largest: 5 co-investments, 3 GP-led secondaries, 2 primary funds.
International operator of car parks and parking management and provider of urban mobility services …
energieTEAM is a French developer and operator of onshore wind farms that manages projects from planning through operation and generates electricity from wind power.
FiberCop (NetCo) is the Italian fixed-line and fiber access network carved out of Telecom Italia in 2024, providing wholesale access to telecom operators.
Statkraft Varme operates district heating generation and heat networks in several Norwegian cities, including Trondheim, supplying households, businesses and public buildings.
UK company in the utilities sector held through a continuation vehicle of Elysian Capital, a London-based private equity investor in UK mid-market companies.
Valentra owns and operates pipeline-connected production and storage facilities for methanol-based chemical intermediates such as formalin on the US Gulf Coast …
Continuation fund of Audax Private Equity (Boston) holding Beacon Mobility …
Portfolio of photovoltaic plants in Germany that generate solar power and feed it into the grid.
London Heathrow Airport, the largest airport in the United Kingdom and one of the busiest in Europe with more than 80 million passengers per year.
euNetworks operates fiber backbone and metro networks in Europe, focusing on bandwidth infrastructure for data centers, cloud providers, carriers and large enterprises in major cities.
Positions and shares according to the provider; short descriptions by semiliquid.info from public sources; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 2.54%, the main class is above the median of the asset class (2.42%). On top comes a performance fee of 25% — with a high-water mark.
For 10,000 EUR this means roughly 254 EUR per year.
For 10,000 EUR, a one-off up to 500 EUR on purchase.
Cost figures of the main class according to provider documents. Median: 25 Infrastructure funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The price is the NAV on the valuation day — it is not known when the order is placed.
Documents to be submitted with the subscription request
The cut-off may be changed by the management company at any time (p. 20)
Price = NAV per share on this day.
An order placed today is invested in — days (—). Miss the cut-off and you move to the next dealing day: cut-off —, invested from —.
Shown without a date because the prospectus does not quantify: NAV publication, payment. The remaining markers are calculated from the prospectus rules.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Valuation day | last business day of the month |
| Cut-off | no lead time · 16:00 Luxembourg · (before the anchor date) |
| Price | valuation day |
| NAV publication | NAV calculation on each valuation day (last bank business day of the month); no publication deadline stated |
| Payment | DVP: 7 calendar days after Valuation day |
| Minimum investment | none |
| Entry charge (max.) | 5% (distributor) |
| Subscription limit | The management company may suspend the issue of units temporarily or entirely; otherwise the number of units is unlimited |
| KYC / documents | Documents to be submitted with the subscription request |
| Revocation | Retail investors 2 weeks from signing the subscription application, without deductions |
| Business day | Bank business day: any day (other than Sat, Sun, 24 and 31 December) on which the banks in Luxembourg and Frankfurt am Main are open (p. 10) |
Dates calculated from the prospectus rules (bank holidays: DE, LU); only the transfer agent’s confirmation is binding. Data as at 26 Sep 2026 · Documents: 08.
Units can be redeemed monthly — with a volume limit (Gate), lock-up 24 months. How quickly the money arrives and what happens if many want out at once is set out below.
Redemption possible for the first time 2 years after launch, the redemption declaration may be submitted …
Price = NAV per share on this day.
Redemption on each valuation day after a minimum holding period of 24 months and a notice period of 12 …
valuation day
A request made today is paid out on — — — days; from the cut-off to cash it is — days.
Shown without a date because the prospectus does not quantify: NAV publication. The remaining markers are calculated from the prospectus rules.
Money typically only after more than a year — on average 391 days from decision to cash.
Rank 67 of 112 · rank 8 of 23 in Infrastructure · no lock-up · no fixed redemption fee
Confidence high — prospectus complete, dates calculated, no assumptions in the value · prospectus as at 31 Jul 2025 · score run 16 Oct 2026 · How 391 days become 20 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | redemption right |
|---|---|
| Frequency | monthly |
| Valuation day | last business day of the month |
| Notice | 12 months before Valuation day · 16:00 Luxembourg |
| Price | valuation day |
| Payout | 7 business days after valuation day |
| Gate | 80% gross of available liquidity per redemption day |
| Scaled-back portion | scaled-back portion lapses; new request required, no priority |
| Redemption fee (max.) | 0% |
| Lock-up | fund-level, 24 months (fund launch) |
| Suspension | Exchange closed/trading restricted; assets unavailable or incapable of valuation; proceeds not transferable |
| Liquidity tools | Redemption limited to 80% of the Liquid Investments per valuation day with lapse of the excess, suspension of redemptions, deferral until … |
| Switch / transfer | permitted to Eligible Investors holding a securities account; trading on a secondary market (regulated market or MTF) permitted, without any responsibility on … |
| Compulsory redemption | Excluded persons with 15 calendar days' prior notice; the account-keeping institution may redeem or sell units without the 12-month notice period in order to … |
Redemption on each valuation day after a minimum holding period of 24 months and a notice period of 12 months. The redemption volume is limited - the issue document inconsistently states in one place 80% of the available Liquid Investments (clause 6.1(ii)) and in another 8% of the net asset value (clause 6.3).
The document IS SELF-CONTRADICTORY: clause 6.1(ii) limits the aggregate amount of redemptions on each valuation day to 80% of the fund's available Liquid Investments; the warning in clause 6.3, by contrast, refers to a restriction “to an amount equal to 8% of the fund's net asset value”. The two statements stand side by side unreconciled; which of them applies cannot be established from the issue document.
Dates calculated from the prospectus rules (bank holidays: DE, LU); only the transfer agent’s confirmation is binding. Data as at 26 Sep 2026 · Documents: 08.
1 class. All cost and risk figures on this page refer to the basis class LU2669726957.
PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Key information document (PRIIPs KID) | 16 Apr 2026 | — |
| Key information document (PRIIPs KID) | 12 Apr 2024 | — |
| NAV series secondary source (data portal) | 31 Aug 2026 | Performance (01) |
| Positions and reserve | 30 Jun 2026 | Portfolio (03) |
All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.
Redemption monthly, notice period 12 months before Valuation day, with 8% gate per redemption day. Subscribing today, it takes on average 391 days from decision to cash under the prospectus deadlines; a gate is not factored in.
Ongoing costs of 2.54% p.a. according to the PRIIPs KID; the median of the Infrastructure funds in this database is 2.42%; plus a performance fee of 25%.
10,000 EUR.
Yes. According to our evidence, the fund is open to retail investors in Germany (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the UniPrivatmarkt Infrastruktur ELTIF. Under the prospectus a gate of 8% per redemption day applies.
Same asset class, similar sub-strategy.
Hamilton Lane · Part II SICAV · monthly
Meridiam · FPS (ELTIF authorisation applied for)
StepStone Group · Part II SICAV · quarterly
Allianz Capital Partners GmbH · ELTIF 2.0 · quarterly
Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.