Nordic fund manager Niam Infrastructure has raised an initial SEK500m (€50m) for its debut infrastructure fund.

The manager said the capital raised for the Niam Infra Fund was received from several Swedish investors.

The fund will target small to medium-sized investments with a focus on asset aggregation and risk reduction in primarily Nordic sustainable infrastructure.

Sverker Åkerblom, CEO of Niam Infrastructure, said the support from the investors in the first external close enables the fund to keep its focus on deployment as it continues the capital raise towards its SEK2bn target.

“We have an extensive pipeline of investment opportunities within renewable energy, transport and connectivity focused on delivering solutions to enable the sustainable energy transition.”

In 2021, fund manager Niam expanded its offering by setting up Niam Infrastructure, an infrastructure investment platform set up to focus on sustainable infrastructure investments in the Nordic region and Northern Europe.

In August the same year, Niam Infrastructure’s fund made its first investment with the acquisition of Swedish solar company Solarwork.

Over the next years the plan is to invest SEK500m together with Solarwork to deliver affordable and trouble-free green electricity through Solarwork’s fully financed Solar-as-a-Service offering, the manager said.

To read the latest edition of the latest IPE Real Assets magazine click here.