Pathway Restructures as Interval Fund, Expands Investment Focus
Pathway Energy Infrastructure Fund, Inc., a publicly registered non-traded closed-end fund, announced that it has converted to a continuously offered, closed-end interval fund structure and expanded its investment focus. It has also changed its name to “Pathway Capital Opportunity Fund, Inc.”
The fund will expand its investment focus beyond the energy and industrial sectors to investing at least 50 percent of its total assets in the securities of infrastructure companies. These can include, but are not limited to, transportation, defense, electric utilities and power, energy, chemicals, communication networks, water and wastewater systems, food and agriculture, social infrastructure, metals, industrials, materials, real estate, and other resources and services related to infrastructure assets like cement, paper, staffing, logistics, environmental, software, and forest product companies.
Pathway Capital Opportunity Fund, Inc. invests in infrastructure and infrastructure-related companies that it believes may offer stable, long-term cash flows with high barriers to entry.
The fund seeks to establish a portfolio comprised of investments in a variety of subsectors and individual companies. It targets income-oriented securities of private and public infrastructure companies and infrastructure-related sectors primarily within North America.
The fund launched in 2014 and has approximately $8 million in net assets. The company has raised approximately $8.6 million in investor equity at an average share price of $14.93.
The fund is managed by Pathway Capital Opportunity Fund Management LLC, a joint venture between Prospect Capital Management and Stratera Holdings.
