Monday, June 24, 2024

Infranity’s latest senior infrastructure debt fund garners €425m

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Infranity, the infrastructure business of Generali Investments, has secured an initial €425m of capital commitments for its latest senior infrastructure debt strategy.

The infrastructure fund manager said the fourth iteration of its senior infrastructure debt strategy, which seeks to raise €1.5bn, has attracted a notable number of returning investors from its previous funds in the series.

Infranity closed the third generation vintage with over €1.6bn in capital commitments, exceeding its initial target of €1.5bn. At the time, the manager said the fund’s backers included international institutional investors, some of which are European insurance companies.

The third vehicle is invested in senior investment-grade debt backed against renewable energy and digital-transition assets in Europe.

“We are delighted to see a number of investors in the new fund that are recurring investors from previous vintages and we wish to thank them for their ongoing trust,” Infranity said, adding that the fourth senior infrastructure debt will have revised and improved financial and environmental, social, and corporate governance objectives, in line with the “attractive market conditions we have witnessed”.

The fund is to be seeded with five seed assets by the end of the year, representing around €250m in investments, the manager said.

Sacha Kamp, the head of investment debt at Infranity, said: “The timing of Infranity’s new debt fund could not be better. Our transaction pipeline is extremely healthy, particularly in the growth segments of energy transition, green mobility and telecoms, allowing the construction of well diversified portfolios with strong sustainability credentials.

”Higher spreads and a lender-friendly market environment will be supportive of delivering attractive risk/return. We relish the opportunity to build on the successes of our prior funds.”

To read the latest IPE Real Assets magazine click here.

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