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The firm is on track to amass at least $3bn when it closes its two credit strategies this summer, which will invest in senior and mezzanine debt.
Tom Sumpster’s departure comes after LGIM’s attempts to expand its infra strategy beyond senior debt hit roadblocks.
Large scale solar farm located in rural Spain
The fund, which had a target of $1bn, attracted investors who were all new to the firm's debt platform.
The funds offer investors two strategies of varying risk and are targeting gross returns ranging between 9% and 14%.
SHip illustration for Infrastructure Debt 15
The Infrastructure Debt 15 is the second edition of Infrastructure Investor's ranking of the world's largest credit GPs, which have raised $84bn from third-party LPs.
The firm has already raised €500m from European investors and will now pitch the vehicle to Australian LPs.
The US firm has been preparing for the new strategy since last May when it hired former BlackRock infrastructure debt chief Erik Savi.
Offshore wind park at daybreak.
The investment in a 5GW UK renewables portfolio is a first of its kind for MIDIS and it “definitely sees this as the first of more to come”, Tom van Rijsewijk tells Infrastructure Investor.
Investors are seeking out lower-risk alternatives to existing fixed income and real asset equity exposure, according to investment consultant bfinance.
Arc de Triomphe, Paris
The French manager is already targeting the launch of its fifth instalment this year, with the fund 65% invested.
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