Ancala Partners has raised an initial £160m (€205m) for a UK infrastructure vehicle.
The company is aiming to raise £400m over the coming months for the Mid-Market Infrastructure Platform.
The vehicle has been backed by pension funds, Ancala said.
The platform made its first investment in Green Highland Renewables, an independent hydropower developer and asset owner.
Spence Clunie, managing partner at Ancala, said: “We are finding a good number of low-risk investment opportunities in the relatively untapped mid-market sector in the UK, where, using our proactive approach, we are able to deliver attractive yields and returns for our investors.
“Both smaller fund investors and larger investors recognise our structure as an effective way to invest in low-risk, long-term yielding assets.”
Ancala said that, after consulting with pension funds and working with Willis Towers Watson, it created the vehicle for long-term investors that want a stable income from low-risk UK infrastructure assets.
The company will source investments and seek controlled growth from a buy-and-build strategy.