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The direct lender has capped the vehicle at $1.5bn and received a $250m co-investment sidecar from the Kentucky Retirement System.
The group saw strong deployment of its European funds and said it is well protected from short-term market movements.
The SME lending specialist is seeking up to €150m with the backing of the EIF as part of the Juncker Plan.
The partnership comes as Edelweiss’ third performing credit fund targets $1bn.
The investment firm has hired Olga Kosters to lead the launch of its debut debt secondaries vehicle.
The Paris-based manager has held a final close on the fund, which will focus on investment-grade European infrastructure and aims to provide up to €75m of debt per project.
Institutional investors are still in the discovery phase, but all the signs point to growth in both fundraising and deployment, say Campbell Lutyens head of private debt advisory group Richard von Gusovius and private debt specialist Jeffrey Griffiths.
The Stockholm-based fund manager has invested 20% of the fund, which is 40% larger than the firm’s predecessor vehicle.
Investing in real assets has become increasingly popular, and debt funds that provide financing for real assets projects are no exception, writes John Bakie.
Observers say Europe’s secondaries market, eclipsed for so many years by the boom in direct lending, is starting to show early and patchy signs of an upturn, writes David Turner.
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