Quaero Capital has raised €600m for its latest European infrastructure fund.
The manager said the Quaero European Infrastructure Fund II (QEIF II) fund, which was launched in July 2019, exceeded its initial €500m target and expects to raise additional capital for from investors for co-investment opportunities.
QEIF II’s investors include European insurers, pension funds, funds of funds, the Fonds de Réserve pour les Retraites and the European Investment Bank.
The fully-invested predecessor fund raised €275m in April 2017
The manager said the QEIF II’s strategy is to finance equity in both greenfield and brownfield infrastructure projects in Europe. It invests in energy, telecoms, water and environment projects, social infrastructure, transport, and utilities.
Quaero Capital said the fund has already invested more than 40% of its commitments through 6 assets in 4 countries and several sectors.
Sébastien Bourget, a managing partner in charge of infrastructure at Quaero Capital, said: “This success recognises the renewed trust from QEIF’s investors as well as the support of new investors, in particular in Switzerland, France, Belgium and Luxembourg.
“These investors were convinced by the quality of the first fund, the assets already in the QEIF II portfolio and more generally by the performance of the infrastructure asset class.”
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