Long-term capital for important societal needs

One key objective for Project & Infrastructure Finance (PIF) at SEB is to structure and finance assets that are essential to economic growth, energy security and resilience.

Sara Fiehn is Head of SEB’s PIF department. This is how she views its overall mission:

“Simply put, our role is to provide long-term financing solutions for projects that are critical to society. This requires extensive sector knowledge, strong structuring capabilities and the ability to connect different sources of capital.”

PIF operates across traditional project finance, capital markets and sponsor-backed transactions in the infrastructure space – acting as a bridge between public needs, private capital and financial markets. As infrastructure has increasingly attracted institutional investors and financial sponsors, this connecting role has become more important than ever.

The operating environment is complex. Projects are long-dated, capital-intensive and often exposed to technology, regulatory and geopolitical risk.

“Transactions have become more sophisticated, and uncertainty is clearly higher today. This places greater demands on risk management, resilience and collaboration – both within the bank and with our clients.”

Energy transition and geopolitical tensions shape the field

Two major trends are currently shaping investment demand, according to Fiehn.

The first is the energy transition, driving large-scale investments in electricity grids, renewable generation, battery storage and electrification. The second is resilience, fuelled by geopolitical uncertainty and the need to strengthen transport networks, electricity grids and other critical infrastructure.

“In many countries, the public sector cannot meet these investment needs on its own. That is why we see renewed interest in public‑private partnerships and other hybrid financing models, where private capital plays a larger role”, Fiehn says.

For SEB, infrastructure finance is a strategic priority. The bank combines lending with advisory services, capital markets access and risk management – working across teams to support clients throughout the investment lifecycle.

“Our ambition is to be an early partner to our clients – helping them shape financing solutions, not just provide funding.”

“Infrastructure is inherently long-term”, Fiehn adds. “Getting the financing right is crucial – not only for individual projects, but for society’s ability to adapt, grow and remain resilient over time.”