The German developer will list the fund on the London Stock Exchange in November and will use proceeds to buy a portfolio of 20 mostly operational seed projects from its own concessions unit. The fund will not charge fees on future deals.
The Swiss fund manager, which has just acquired three solar photovoltaic power plants in Italy, has revealed that it is seeking a €100m final close for its debut renewable energy infrastructure fund by the end of this year. The fund had raised €30m at first close in April.
Japanese trading company Marubeni Corporation is to acquire a 49.9% stake in Gunfleet Sands wind farm off England’s Essex coastline for £200m from Denmark’s DONG Energy. Earlier this year, DONG sold the wind farm’s transmission line to a consortium of investors.
The UK’s second-largest pension fund has hired Gavin Merchant, formerly a director at public-private partnership investor Equitix, to become a senior investment manager focusing on direct infrastructure investments.
The unlisted Benelux-focussed infrastructure fund has partnered with Ballast Nedam to form the Benelux Secondary PPP Fund I, which was seeded with three assets worth about €700m. DG Infra Yield has raised €116m and is targeting a final close of between €150m and €200m.
The Swiss private markets manager has invested in Sorgenia France, a French wind energy joint venture established by US alternative assets firm Kohlberg Kravis Roberts and Italian energy company Sorgenia in June.
Philippe Taillardat will join Danny Latham in co-heading First State’s European infrastructure unit. He will be based in Paris, in the firm’s first office in continental Europe. First State has raised almost €600m for its European infrastructure fund.
The London-based fund manager has appointed former Macquarie senior managing director Erich Becker as co-head of its renewable energy and environmental infrastructure team. The firm has just launched a new fund, which will broaden its infra strategy from solar to renewable energy in general.
Limited partners, especially pension funds and life insurers, will readily tell you that they like infrastructure because of its long-term, stable cash-flows. So why do they prefer infrastructure funds with 10- to 12-year life-cycles?
Partners Group, the Switzerland-based private markets investment manager, has continued its international expansion with the launch of a new office in Paris. The firm, which now has 15 offices in total around the world, has opened five of these offices since the beginning of last year.
As the infrastructure asset class matures, two quite different types of investment are emerging. Former Allianz Capital Partners chief executive Thomas Putter explains why an understanding of this is so crucial
The Dutch pension provider is due to finish investing the PGGM Infrastructure Fund in December, after which it plans to start forming a new fund in early 2012. The two-year fund has currently invested €1bn and is targeting a yield of 5% for its three pension clients.
Managers raising Euro-denominated infrastructure funds are anxious about prospects in the aftermath of the Eurozone’s dramatic summer.
Pátria Investimentos, the Brazilian fund manager 40% owned by The Blackstone Group, has closed its second infrastructure fund just short of $1.2bn, beating a $1bn target. The fund is jointly sponsored by Pátria and Promon, a Brazilian engineering consulting firm.
Drawing on an existing partnership, Dutch fund manager DIF and GreenYellow, a French renewable energy developer, have added a further four French solar photovoltaic projects to the nine that they already jointly owned.