Union Investment Grade Alpha Strategy S.C.A., SICAV-RAIF

Union Investment Grade Alpha Strategy S.C.A., SICAV-RAIF is an open-ended ELTIF managed by Union Forvaltning AS and domiciled in Luxembourg, where it is constituted as a SICAV operating under the RAIF regime. The vehicle is authorised under ELTIF 2.0, giving it a pan-European distribution scope, and it is offered to professional investors subject to a minimum commitment of 10,000,000 NOK in its base currency of NOK. It launched in 2025 and is classified as Article 8 under SFDR.

The strategy is private debt, pursued through direct lending, with portfolio exposure spread across . Assets under management stand at . Within the coverage universe of 494 vehicles as of 31 Aug 2026, it is one of 148 funds in its asset class, one of 347 domiciled in Luxembourg, and one of 108 combining both characteristics, a group in which fee levels such as its management fee and total cost ratio can be read against peer practice.

Dealing mechanics follow the semi-liquid evergreen model rather than a drawdown structure: subscriptions are accepted monthly, net asset value is struck monthly, and redemptions are processed quarterly, with an initial hard lock-up applying to new money before any redemption right becomes available. Investors should note that the quarterly exit window sits against an underlying loan portfolio whose assets are illiquid, so liquidity is intermediated by the manager rather than matched to the dealing calendar.