GLOBAL – Germany's Union Investment has reached a second closing for its UniInstitutional Infrastruktur SICAV-SIF Erneuerbare Energien infrastructure fund.
Since the fund was launched in September 2012, Union has secured approximately €100m of capital from institutional investors for the Luxembourg-based vehicle.
Taking into account the usual debt finance element, around €350m is now available for investment in infrastructure projects.
Christoph Schumacher, a member of the management board at Union, said: "Compared with the first subscription phase, we were able to further boost the level of interest among our institutional investors in our first infrastructure fund."
The fund invests in European energy parks with a focus on onshore wind farms, as well as some photovoltaic investments.
Alongside two wind farms in Germany, the fund also signed an agreement to acquire a wind farm in Ireland.
The fund is seeking to make further acquisitions in France and the UK in the coming weeks.
In other news, Vancouver-based Hungerford Properties has reached a final closing for its HPWC Opportunities Fund.
The firm has raised $120m (€87m) in capital from institutional investors in Asia, Europe and North America.
The HPWC Opportunities Fund seeks to acquire properties in Western Canada with a focus on Vancouver, Edmonton and Calgary.
Its objective is to create a diversified portfolio of moderately leveraged commercial and residential properties and implement a value-add investment strategy, whereby properties are refurbished and redeveloped.
The fund has allocated 33% of its committed capital to investments so far.
