The fund’s last investment comprised £23.5m of subordinated loans to five UK healthcare and accommodation projects. London-based Gravis expects to tap the market again later this year for a fresh round of fundraising.
The £1bn Shropshire County Pension Fund has allocated 3 percent of its total portfolio to its debut infrastructure investment – a £30m commitment to Global Infrastructure Partners’ second infrastructure fund, which is seeking to raise between $5bn and $6bn.
Make no mistake - ‘developer funds’, listed and unlisted, are competing against GPs on fees, while still providing LPs with asset management services.
The two firms are teaming up to build an electricity interconnector linking the UK to France. The project is worth €250m and is expected to boost capacity across the Channel by 25%.
Sir Adrian Montague, chairman of 3i Group, has been appointed by the UK government to chair the advisory group that will help it set up a Green Investment Bank. The bank will start investing in April 2012 and will be able to borrow by 2015 or 2016.
The Austrian developer has taken a 51% stake in two holding companies to develop, build and operate offshore wind power plants. The holding companies will develop up to 850 wind power facilities in the German North Sea over the next 10 to 15 years, with a total capacity of around 4,000MW.
The UK listed infrastructure investor currently holds 40 infrastructure investments after it spent over £168m on acquisitions over the last year.
The infrastructure investor and the Spanish developer will each invest $200m in a joint venture targeting Indian transport infrastructure. The partnership already has $1.6bn of highways under construction and is in the running for several other road projects.
Italian firm Kinexia has sold three Italian solar plants to the Paris-based fund manager, with an option to sell a fourth. Two of the plants are already operational with the third one still in development.
InfraRed Capital Partners, the management team that spun out of HSBC at the beginning of this month, has completed its first infrastructure deal since then – advising HICL Infrastructure and Kajima Partnerships on the acquisition of three PFI stakes from Kier.
The Swedish investor is acquiring Acciona Aparcamientos, which manages 29 car parks and 16,000 parking spaces in Spain and Andorra. EQT’s €1.2bn infrastructure fund will be about 60% invested when its first Spanish investment closes in July.
The emerging markets private equity firm has acquired two electricity supply and transport businesses in Guatemala from Gas Natural Fenosa, a Spanish energy operator. The businesses’ services reach 94 percent of the land mass of the Central American nation.
Investment firms Torreal, ProA Capital and Criteria will become the major shareholders in Saba Infraestructuras, a holding company set up to incorporate Abertis’ car parking and logistics businesses.
The John Laing Infrastructure Fund, which raised £270m through an initial public offering in London towards the end of last year, has seen steady growth in the opening quarter of this year, with portfolio value up 2.9%.
The BAM/PGGM arrangement is the latest sign of sophisticated pension capital gravitating towards developers rather than GPs.