Schroders has raised a further €207m for its European infrastructure debt fund.
The Schroder Euro Enhanced Infrastructure Debt Fund II fund, also known as Julie II, had a €312m first close in July last year. In March, the manager raised an additional €223m.
Schroders said the fund, which targets a €1bn hard cap, has now reached €739.5m in size with its latest close.
The Julie II fund was launched in the third quarter of last year focuses on mid-sized brownfield core assets based in Europe. The predecessor fund raised €350m in 2017.
Augustin Segard, Schroders’ head of enhanced infrastructure debt, said: “Today’s announcement demonstrates the commitment and belief our investors have in the team’s ability to identify excellent investment opportunities and deliver robust returns.
“The high demand we have seen for the fund is also further evidence to support our investment philosophy that there are many attractive investment opportunities in the sub-investment grade infrastructure debt space. Now, perhaps more than ever before, investing in infrastructure is key to supporting the world’s growing population and boosting economies.”
Jerome Neyroud, Schroders’ head of infrastructure debt, said: “The news of the success and speed of this fundraise underpins how crucial it was for the team to have been one of the first movers in this market. We have now raised well over €1.2bn for EUR and GBP sub-investment grade infrastructure debt strategies.”
Peter Arnold, Schroders’ co-head of private asset sales, said: “Coming so soon after having announced that we had raised €532m, this update demonstrates the ongoing momentum for this strategy and asset class.
“The continued strong interest in Julie II shown by our existing global partners as well as new clients that have joined this close provides further evidence of their trust in Schroders’ ability to deliver investment performance that closely matches their objectives, and we are now focused on reaching a hard cap of €1bn.”
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