Edmond de Rothschild Asset Management has completed a first close of its second vehicle, the Benjamin de Rothschild Infrastructure Debt Generation (BRIDGE) fund.

Italian, German and French investors backed the vehicle in a first close in December.

The vehicle is focused on lending opportunities across Europe over the next four years. 

Fundraising is expected to close in the second quarter.

Three investments have been structured and closed for the vehicle, including a fibre optic public/private partnership in France and a renewable energy sector transaction.

The manager has now raised €1bn for its strategies.

In March last year, Edmond de Rothschild said it was looking to raise up to €800m for the fund.

Five investors backed BRIDGE II with €147m in March last year.

The manager’s first BRIDGE vehicle was 94% committed, with around €550m invested in France, Austria, Germany, Belgium and the UK.

The vehicle has invested in conventional and renewable energy, as well as road, rail and air transport, social infrastructure and storage.

The vehicle has typically provided project financing, refinancing and acquisition loans.

Both the manager’s funds can act in concert through co-investments.