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MDGIF Investment Policy Statement

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Applicable to:            MDGIF Project Promoters  
Equity Partners 
MDGIF INVESTMENT POLICY STATEMENT (MIPS) 
 
Code: MDGIF Guide 1001 - 2024 
 
Effective Date: 17th May 2024 
 
 
This document is a property of the Midstream and Downstream Gas Infrastructure Fund. All rights reserved. 
2 
Table of Contents 
1 
INTRODUCTION ___________________________________________________________________ 6 
1.1 
The Midstream and Downstream Gas Infrastructure Fund ________________________ 6 
1.2 
Source of Funds to the MDGIF __________________________________________________ 6 
1.3 
Purpose of the MDGIF Investment Policy Statement _____________________________ 7 
1.4 
Scope of the MDGIF Investment Policy Statement _______________________________ 8 
1.5 
Definition of Terms ____________________________________________________________ 8 
2 
INVESTMENT ROLES AND RESPONSIBILITIES ___________________________________________ 9 
2.1 
Governing Council ____________________________________________________________ 9 
2.2 
Executive Director, MDGIF _____________________________________________________ 9 
2.3 
Management Investment Committee (MIC) ___________________________________ 10 
2.4 
Transaction Advisor __________________________________________________________ 11 
3 
GENERAL POLICY AND OBJECTIVES ________________________________________________ 12 
3.1 
Purpose of the MDGIF ________________________________________________________ 12 
3.2 
Investment Philosophy of the MDGIF __________________________________________ 12 
3.3 
Investment Objectives of MDGIF ______________________________________________ 12 
3.3.1 
Safety ___________________________________________________________________ 13 
3.3.2 
Liquidity _________________________________________________________________ 13 
3.3.3 
Return on Investment _____________________________________________________ 13 
3.3.4 
Maintenance of the Public Trust ___________________________________________ 13 
3.4 
Asset Allocation _____________________________________________________________ 13 
3.5 
Geographic Focus ___________________________________________________________ 14 
3.6 
Target Sectors for MDGIF Investment __________________________________________ 14 
3.7 
Investment Guidelines _______________________________________________________ 15 
3.8 
Potential Investment Partners _________________________________________________ 15 
3.9 
Intervention Strategies _______________________________________________________ 16 
3.9.1 
Financial Intervention: ____________________________________________________ 16 
3.9.2 
Non-Financial Interventions: ______________________________________________ 16 
3.10 
Investment Horizon and Exit Strategy ________________________________________ 16 
3.10.1 
Investment Holding Period ________________________________________________ 16 
3.10.2 
MDGIF Exit Strategies _____________________________________________________ 17 
3.11 
Relationship with MDGIF Equity Partners _____________________________________ 18 
3.12 
Conflicts of Interest, Anti-Corruption and Fraud ______________________________ 18 
3.12.1 
Conflicts of Interest_______________________________________________________ 18