Edmond de Rothschild Asset Management has exceeded the fundraising target for its infrastructure debt platform and plans to launch a follow-on vehicle.
The manager said since the launch of Benjamin de Rothschild Infrastructure Debt Generation (BRIDGE) IV in April 2018, which comprises a combination of subfunds, the BRIDGE platform has raised €1.25bn, exceeding its initial €750m target.
BRIDGE IV raised money for both senior and junior debt instruments through distinct subfunds.
Around €800m of senior debt was raised and €450m for the first junior debt fund known as BRIDGE Higher Yield — exceeding the initial €250m target for this new strategy.
The manager said BRIDGE IV also secured a significant managed account from an unnamed German insurance company.
The manager said it also closed its first €150m BRIDGE junior debt subfund with a pool of South Korean investors.
This latest fund raising brings total BRIDGE platform assets raised since its initial launch in August 2014 to €2.6bn, the manager said, adding that it expects to launch BRIDGE V this year.