Non-Executive Director — Infrastructure Fund Liquidity and Leverage

The investment vehicle needs its own liquidity view

The director should test how capital calls, distributions, bridge facilities, operating reserves and portfolio refinancing dates fit together. Concentration can emerge through shared lenders, correlated revenue risks or simultaneous construction obligations even when assets appear diversified by sector or geography. The board needs a consolidated view that does not flatten meaningful differences between investments.

Independent qualification for the seat

Candidates should offer significant infrastructure finance, investment or fund-governance experience and a credible understanding of leveraged asset structures. Prior board work is valuable, but applicants must also show an ability to interrogate financial information without drifting into day-to-day management. Familiarity with cross-border structures should include conflicts, cash movement and the limitations of consolidated reporting.

The appointment will require entity-specific assessment of independence, availability and applicable eligibility. Applicants should identify potential conflicts arising from lending, advisory or investment relationships.

Distributions, obligations and assurance

Challenge assumptions supporting distributions when maintenance needs, refinancing or unresolved claims could create later funding demands. Examine the basis for leverage limits and the treatment of contingent support. Assess the decision process for guarantees, related-party financing and changes to security arrangements. Request clear explanation of valuations whose movement materially affects borrowing headroom or investor communications.

Where service providers prepare information, the director must evaluate its completeness and independence rather than treating outsourced preparation as outsourced accountability. Work constructively with other directors and relevant committees to resolve inconsistent reporting between investment, finance and risk functions.

Success means that financing risk is visible before approvals, distribution decisions reflect the full liquidity picture and material exceptions receive documented follow-through. The director will participate in collective decisions and maintain informed oversight between meetings when circumstances require it. Investment selection and financing execution remain with duly authorised teams; this seat carries no unilateral authority to negotiate facilities or promise investor returns.