Second Infranode infrastructure fund beats target to raise €1.2bn

Nordic-based infrastructure manager Infranode has exceeded a €1bn fundraising target for its second fund by more than 20%.

The manager’s Infranode II has received over €1.2bn of capital commitments, an amount which more than doubles the SEK4.45bn (€439.2m) raised in 2017 by the predecessor Infranode I fund.

As previously reported, Swedish pensions and insurance group Folksam invested in the Nordic infrastructure fund as the fund’s first investor along with the IKEA-linked IMAS Foundation. Border to Coast also made a €110m commitment to Infranode II.

Infranode said 19 long-term investors committed to the second fund, including Folksam, Swedish municipalities pension fund KPA, Finland’s largest pension provider and municipal pension fund Keva, Norway’s largest pension provider Storebrand and the IMAS Foundation.

The fund has made a total of 12 investments to date, the manager said.

Christian Doglia, a founding partner and CEO of Infranode, said: “Infranode has been a pioneer in Nordic sustainable infrastructure investments ever since Infranode was founded in 2014. The tremendous level of interest from investors for Infranode ll reflects our continued commitment to being a catalyst in the transition to a more sustainable Nordic society.

“The market is very strong, a situation we are convinced will continue for the foreseeable future.”

Philip Ajina, founding partner and CIO of Infranode, said: “Our mission is to be a leader in sustainable, future-proofed infrastructure investments through long-term partnerships with key stakeholders in the Nordics. We have a proven model where we work with and own assets together with partners such as municipalities and other public sector bodies and their companies, as well as with the private sector, across the Nordics.

”For Infranode II, we see great potential across all of the Nordic countries in sectors such as energy and utilities, renewables, digital infrastructure, transportation as well as in social infrastructure.”

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