AXA Investment Managers - Real Assets has raised €1.05bn for its second European infrastructure debt fund.
The manager said the European Infrastructure Senior (EIS) 2 fund, launched in December 2018, has exceeded its original fundraising target at its final close.
EIS 2 received capital commitments from a diverse pool of institutional investors from across Europe and Asia, including repeat investors from the predecessor fund, according to AXA IM - Real Assets.
The EIS 2 fund will seek to provide its investors with defensive and stable income by investing in a diversified portfolio of core infrastructure financings across European markets.
The fund will target predominantly senior secured floating rate debt investments.
So far, the fund has invested in six transactions in the digital infrastructure, renewable energy and rail transportation sectors in France, Spain and Germany, the manager said.
Bertrand Loubières, head of infrastructure finance at AXA IM - Real Assets, said: “Since launching our infrastructure debt strategy in July 2013 we have seen a consistent increase in appetite from institutional investors for diversified portfolios of infrastructure loans with the capacity to deliver long-term and stable income-driven returns.
“We have continued to concentrate our efforts on all infrastructure and energy sectors, including renewable energy and digital infrastructure, while ESG integration across the infrastructure debt portfolio remains critical, now more than ever, in preserving long term value on behalf of our clients.”
Florence Dard, global head of business development at AXA IM’s alternative investment platform, said: “Demand for exposure to the asset class has surged in recent months enabling us to close this second fund above target which, particularly in the current climate, is testament to the proven track record of both our investment team and the European Infrastructure Senior platform as a whole.
“The critical mass that we have achieved with this fundraise enables us to access high-quality, large and complex deals, providing a competitive advantage and better relative value for the benefit of our clients.”
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