Quaero Capital has completed the first close of its European infrastructure fund.
The Geneva-based company said it raised €50m ($53.8m) in commitments for the private equity vehicle, aimed at institutional investors.
Quaero seeks to raise €200m.
The fund will invest in small to mid-sized projects in the transport, social infrastructure, telecom, utilities and energy sectors.
The Fonds Professionnel de Capital Investissement vehicle is targeting greenfield and brownfield assets.
The company’s head of infrastructure, Sébastien Bourget, said: “The first closing of the fund represents an important milestone, allowing us to take advantage of the promising project finance opportunities we have had in our pipeline since launch.
“Investors will be able to access attractive yield and recurring long-term cash flows, while benefiting from the robust structures of the infrastructure asset class.
“Our investments also offer a degree of protection from inflation.”
Quaero Capital chief executive Jean Keller said: “Most European governments are trying to ease the high levels of public debt but must still meet the growing infrastructure needs of their economies and people.”
Private financing guided by public policy is, Keller said, a “critical element of sustainable service provision, offering secure funding for essential development”.