SCOR Investment Partners has launched a third infrastructure financing fund after fully deploying its second.
The fund management arm of French reinsurer SCOR hopes to raise up to €500m for the new fund.
SCOR also said it has fully deployed the €378m capital raised for the SCOR Infrastructure Loans II fund, which was launched in August 2015.
The second fund deployed a gross commitment of €381.9m and is made up of 14 loans in eight sectors and four euro-zone countries.
SCOR Infrastructure Loans III will form part of SCOR’s intent to participate in energy transition and address climate change, SCOR said.
The investment team, headed by Paola Basentini, will favour green projects, SCOR said, adding that the team expects to roll-out the raised capital in two years.
François de Varenne, chief executive of SCOR Investment Partners, said: “I welcome the rapid deployment of the SCOR infrastructure Loans II fund and the high expected return, which surpasses the initial objective.
“Our strategy on the infrastructure debt market consists of offering investors mid-sized funds – between €300m and €500m – with a granularity of 10 to 15 loans.”