Infrastructure fund manager Infranity has raised over €1.6bn for its third senior infrastructure debt strategy and expects to make an initial close for a follow-on fund soon.

The infrastructure business of Generali Investments said the capital raised for the fund, which has a side-car vehicle, exceeded an initial target of €1.5bn.

Infranity said the fund’s backers include international institutional investors, a number of which are European insurance companies.

Senior Infrastructure Debt, which was launched in the second half of 2021, has already invested more than 80% of the capital raised.

The vehicle will invest in senior investment-grade debt backed against renewable-energy and digital-transition assets in Europe.

Infranity said it is progressing with the fourth senior infrastructure debt vehicle with a first close imminent.

Philippe Benaroya, CEO and managing partner of Infranity, said: “Infranity has been able to successfully close its flagship fund, overachieving its original target with more than €1.6bn of investor commitments.

“It underlines Infranity’s leading infrastructure debt capability in Europe, bears testimony to the strong deployment pace, and highlights the attractive product offering of our firm.”

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