Investment Funds
Since 2015, Summa has managed infrastructure funds focused on investing in both economic and social infrastructure in Iceland. The funds are authorized to invest in new infrastructure developments as well as existing assets. They are intended for professional investors and are primarily financed by Icelandic pension funds.
Alongside its managed funds, Summa has engaged co-investors, often drawn from the funds’ investor base, allowing the firm to participate in large-scale projects. In total, Summa has been involved in infrastructure projects amounting to approximately ISK 200 billion.
Innviðir fjárfestingar slhf.
Summa’s first infrastructure fund, Innviðir fjárfestingar slhf., was established in 2015 with an initial size of approximately ISK 7 billion. The fund invested in equity of economic infrastructure companies. Its investment period concluded in mid-2021, though it continues to support its existing holdings.
Its principal investments include shares in Verðbréfamiðstöð Íslands hf. and HS Veitur hf., a utility company providing heating, water, and electricity distribution.
Innviðir fjárfestingar II slhf.
Innviðir fjárfestingar II slhf. was launched in February 2022 with a fund size of approximately ISK 11 billion. The fund is authorized to invest in equity or equity-equivalent instruments in both economic and social infrastructure and remains in its investment phase. Among other projects, the fund has invested in Míla, alongside three Icelandic pension funds and a French infrastructure fund managed by Ardian, as well as in nursing homes.
Special Investments
Summa also manages dedicated investment projects through separate entities on behalf of its investors. These include, among others, pension fund investments in the PCC silicon metal plant in Bakki, Húsavík (through Bakkastakkur slhf.), and in solar silicon technology (through Sunnuvellir slhf.). These projects share a common feature: they are complex and technically demanding ventures where Summa’s specialized market expertise provides significant added value.
