Swen Capital Partners has raised €470m for a fund that will invest in infrastructure fund primaries, secondaries and co-investments.
The Paris-based firm has reached a final close for its Swen Infra Multi-Select 4 (SIMS 4) from French and other European investors.
The fund is classified as an Article 8 fund under the EU’s Sustainable Finance Disclosure Regulation (SFDR) and will focus on telecommunications, energy transition, low-carbon mobility, and health and education infrastructure.
It uses a “stringent ESG approach, under which climate issues are systematically analysed”, Swen said, and targets an average annual internal rate of return of 8-10%.
To date, the fund has made 16 investments, of which seven are direct co-investments. Swen intends for direct co-investments to make up about 50% of the portfolio.
The fund is around 50% deployed, having invested in fibre optics, renewables, food and agriculture logistics and low-carbon transport.
“With its increased ambition in direct investments, SIMS 4 takes an important step in furthering our expertise, while consolidating our know-how when it comes to managing diversified programmes,” said Jean-Philippe Richaud, deputy CEO and multi-strategy CIO of Swen.
