AAM, Wilshire Launch Private Infrastructure Interval Fund

Advisors Asset Management and Wilshire have launched the AAM Wilshire Infrastructure Fund, an interval fund designed to give individual investors access to private infrastructure assets historically concentrated among institutions such as pension plans and endowments.

Sun Life Financial has committed $150 million in seed capital to the fund, which trades under the tickers AAWIX, AAWDX and AAWSX. The fund will pursue global small- and middle-market infrastructure opportunities across digitalization, transportation, the energy transition and social infrastructure.

The strategy invests through infrastructure funds, secondary transactions and co-investments, aiming to diversify exposure across investment managers, strategies and underlying assets. Wilshire, which sub-advises the fund, advises on more than $1.3 trillion in client assets and managed $183 billion as of March 31, including $33.2 billion in alternative assets.

“Through our partnership with Wilshire, we are providing access to private infrastructure through an interval fund structure designed to meet the needs of individual investors,” AAM chief executive officer Cliff Corso said.

The evergreen fund permits daily purchases and has a $5,000 minimum initial investment for Class S and Class D shares; the institutional Class I shares carry a $1 million minimum. Investors will receive Form 1099 tax reporting rather than Schedule K-1 forms, and will not face ongoing capital calls common in traditional private funds.

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