Siqalane Taho
This marks the firm’s first foray into infra credit, to be quickly followed up with the launch of an investment-grade vehicle.
The move comes after the firm’s acquisition of AXA IM Alts, which has created an overlap in equity fund strategies between the two managers.
This latest fund represents an almost 90% increase on the manager’s previous fund, which targeted €400m.
Ramzi Moubarak was hired less than two years ago to lead the firm’s European expansion following the opening of its London office in October 2023.
The manager has raised 14%, or €1bn, more than the upper range of its target in about two years of fundraising.
The manager has already deployed over 60% of its fund target, with a successor strategy expected to launch in early 2027.
Manager extends fundraising by roughly six months in attempt to capitalise on resurgent investor appetite for infrastructure.
The vehicle includes 22 infra assets, spanning highways, high-speed rail, hospitals, university accommodation and low-carbon solutions.
The fund aims to bolster support for the country's transport and logistics infra efforts as it prepares to host the 2030 FIFA World Cup.
Strong investor demand has already propelled the fund beyond its predecessor’s $5.2bn final close.