Merchant bank NIBC has announced that its NIBC European Infrastructure Fund I has completed an initial fund raising for EUR 300 mln with cornerstone investors NIBC Bank and Dutch pension funds ABP and PGGM. The final close of the fund at EUR 500 mln is expected before the end of 2007.

Merchant bank NIBC has announced that its NIBC European Infrastructure Fund I has completed an initial fund raising for EUR 300 mln with cornerstone investors NIBC Bank and Dutch pension funds ABP and PGGM. The final close of the fund at EUR 500 mln is expected before the end of 2007.

The fund's investment focus is on project-based investments and mid-market corporate acquisitions in social infrastructure, roads and transportation infrastructure, waste management, renewable energy, and oil & gas storage and distribution facilities. The fund has a geographical mandate covering the European Union, with focus on the Benelux, UK and Germany.

NIBC Infrastructure Partners, the fund manager, is led by Darren Kyte, who was responsible for the establishment and development of NIBC's infrastructure activities over the past 10 years. Headquartered in The Hague, NIBC also has offices in London, Brussels, Frankfurt, New York and Singapore.