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Market Sounding for the SCALED platform’s Compartment 1, a private credit strategy focused on sustainable infrastructure
SCALED Development is preparing the SCALED Umbrella Fund, whose first compartment is envisaged as a closed-ended vehicle that will pursue private credit investments with strong security packages, predominantly financing sustainable infrastructure across emerging markets and developing economies. SCALED Development is therefore conducting a market sounding to reach impact asset managers interested in proposing funds and acting as the delegated portfolio manager of the first compartment. Interested candidates are asked to submit proposals for consideration using the platform specified in the Guidance Note (see below).
Strategy
Private credit investments
Sectors
Sustainable infrastructure
Geography
ODA-eligible emerging markets and developing economies, global scope
Target Size
EUR 250 million (preliminary minimum working target size)
Process
Market sounding
Background
SCALED is a public-private initiative to standardise and scale private capital mobilisation for sustainable development. SCALED Development GmbH (the “Advisory Company”) is an advisory services company established by members of the initiative, tasked with structuring and supporting the establishment of an umbrella fund (the “Umbrella Fund”) for commercial and catalytic capital.
The platform has two tiers. The Advisory Company sits in the upper tier, under its own corporate governance, providing structuring, standardisation and advisory services, but does not manage funds or hold fund assets. In the lower tier, the Umbrella Fund will be established; it will be managed by a regulated Alternative Investment Fund Manager (the “AIFM”), to be appointed through a separate process, and is expected to be capitalised by catalytic investors (donors, DFIs and philanthropies) alongside commercial investors. Each compartment of the Umbrella Fund will be a separate vehicle, run by a specialised asset manager appointed by the AIFM as delegated portfolio manager, with contractual and capital relationships running through the Umbrella Fund itself rather than the Advisory Company. The outcome of this market sounding will inform the structuring of Compartment 1.
The Umbrella Fund is expected to be anchored by public and private investors. Compartment 1 shall pursue private credit investments financing sustainable infrastructure across ODA-eligible emerging markets and developing economies.
Note: SCALED Development intends to maintain engagement with the manager market as subsequent compartments are developed and welcomes continued dialogue with interested managers irrespective of the outcome of this process.
What we are seeking
We are inviting impact asset managers to propose funds for Compartment 1. Specifically, we seek impact asset managers who are capable of running Compartment 1’s private credit strategy with a targeted first close by Q4 2026 – Q1 2027.
Selection will be determined by strategy fit, fundraising and pipeline, operational and regulatory soundness, track record, blended-finance capability, and impact and ESG reporting. Further detail on each area is set out in the Guidance Note.
*Any formal appointment as delegated portfolio manager is anticipated to follow the establishment of the Umbrella Fund and the appointment of its AIFM, and would in each case be contingent on bilateral negotiation and agreement of terms.
Materials
Request the Guidance Note
The full SCALED Compartment 1 Market Sounding Guidance Note, including eligibility, evaluation criteria and submission instructions, is available on request from the Tender Agent, Broadpeak Advisory AG.
To obtain the full Market Sounding Guidance Note and any complementary instructions or documents, please email Tenders@Broadpeak.ch with the subject line: „Request for SCALED Compartment 1 Guidance Note“. Please copy compartment-1-sounding@scaled-dev.com.
Contact
All inquiries in relation to this Market Sounding, including requests for the Guidance Note and process questions, should be exclusively made to Broadpeak Advisory AG, which is acting as tender agent in this process, at tenders@broadpeak.ch with compartment-1-sounding@scaled-dev.com in copy.
Martin Ewald, Managing Director of SCALED Development GmbH, acts as relationship manager for the asset manager community. General inquiries about the SCALED platform and future compartments may be directed to him at info@scaled-dev.com.
This Market Sounding is conducted by SCALED Development GmbH, ahead of a further selection process for Compartment 1 of the SCALED Umbrella Fund. It does not constitute an offer, solicitation or commitment by SCALED Development GmbH, the Umbrella Fund or any of its stakeholders, and taking part does not guarantee inclusion in any subsequent process. The process is administered by Broadpeak Advisory AG as Tender Agent. The Umbrella Fund and Compartment 1 have not yet been established. This process identifies a preferred manager only; any appointment as delegated portfolio manager remains conditional on the establishment of the Umbrella Fund, the appointment of its AIFM, and the conclusions of the relevant delegation with the AIFM, which would take effect in connection with a successful first closing of Compartment 1.
SCALED Development GmbH is established by members of the SCALED Initiative, including KfW, FinDev Canada, Allianz and Zurich Insurance Company. References to these institutions do not indicate any commitment by any institution to invest in the Umbrella Fund, Compartment 1, or any other compartment.