Australian investment and asset management group Babcock & Brown (B&B) has announced the final closing of its European Infrastructure Fund (BBEIF). The total commitments of EUR 2.17 bn exceed the initial target of EUR 1.5 bn.
Australian investment and asset management group Babcock & Brown (B&B) has announced the final closing of its European Infrastructure Fund (BBEIF). The total commitments of EUR 2.17 bn exceed the initial target of EUR 1.5 bn.
BBEIF will target additional investments in the energy, water and transport sectors as well as other critical infrastructure assets. B&B said the fund will benefit from B&B's network of more than 420 infrastructure originators and specialists worldwide.
'We are delighted to be announcing the final close on BBEIF being the first in a series of unlisted infrastructure fund initiatives around the globe, focused on key regions', said Peter Hofbauer global gead of Infrastructure at Babcock & Brown. Antonino Lo Bianco, European head of Infrastructure, said: 'There is a wealth of high-quality infrastructure investment opportunities in Europe and we are confident that our expertise and origination teams will create a portfolio of carefully selected high-quality assets that will deliver strong returns for our investors in the fund.'
Babcock & Brown was founded in 1977 and is listed on the Australian Stock Exchange. It operates from 29 offices across Australia, North America, Europe, Asia, United Arab Emirates and Africa and has in excess of 1,250 employees worldwide.