Deals

Arcus claims £500m for new fund

A second Arcus vehicle will also invest in core European infrastructure.

-

Arcus Infrastructure Partners has obtained £500 million (€595 million; $820 million) for its second offering, a core infrastructure fund.

Existing investors in Arcus European Infrastructure Fund 1 (AEIF1), its maiden vehicle, backed the latest Arcus fund, according to a notice the company posted on its website.

Arcus did not indicate if the fund was closed to investors. No one with the company responded to a voicemail message left at its London headquarters by press time.

Like its predecessor, the £1.7 billion Arcus European Infrastructure Fund 1, the newest Arcus fund will focus on Europe, investing in energy, water and wastewater services, airports and toll roads.

Created in 2007, AEIF1 has commitments from 40 institutional investors.

Arcus went on to state its intention to use the newly-launched fund to “take significant or controlling positions” in “long-term investments” ranging from €300 million to €500 million.

Arcus took shape in 2009 in a management buyout (MBO) by senior officials of the European infrastructure team of Babcock & Brown (B&B), the now-defunct Australian financial services provider.