Dexia Bank Belgium and Antwerp-based investment company GIMV have said they are in the process of launching a new non-listed fund to invest in infrastructure and real estate construction projects, mainly in the Benelux region (Belgium, the Netherlands and Luxembourg). The two partners are each contributing 20% of the financing for the fund that has a target of EUR 100 mln.
Dexia Bank Belgium and Antwerp-based investment company GIMV have said they are in the process of launching a new non-listed fund to invest in infrastructure and real estate construction projects, mainly in the Benelux region (Belgium, the Netherlands and Luxembourg). The two partners are each contributing 20% of the financing for the fund that has a target of EUR 100 mln.
The fund will focus on infrastructure investments in transport and utilities as well as real estate construction and public private partnership (PPP) projects in what GIMV described as the more traditional sectors'such as water, schooling and roads. The parties also intend to explore additional projects in the renewable resources and waste-management sectors. Although the fund will concentrate on the Benelux, it will consider the rest of Northern Europe as its secondary market. Projects with an enterprise value of at least EUR 20 mln will be considered by the fund.
Dexia describes itself as a top-10 player in project finance for utilities, construction and infrastructure and number one in the world for PPP financing. GIMV claims to be the most active private equity player in Belgium.