Edmond de Rothschild eyes €750m July close for fourth infra debt fund – exclusive

A fifth vehicle, which could secure commitments of about €1bn, may follow before the end of the year.

Edmond de Rothschild is planning a July close for its fourth infrastructure debt fund at about €750 million, Infrastructure Investor has learnt.

The French asset management group expects the close on its BRIDGE IV platform to be towards the upper end of its €500 million to €750 million target. The fund was launched last June and reached a first close late last year.

Edmond de Rothschild plans to launch a fifth infrastructure debt fund, which could target commitments of around €1 billion, later this year.

BRIDGE IV is structured through two sub-funds. The larger of the two is exclusively targeting commitments of about €500 million in the energy transition space, and is seeking returns of more than 200 basis points over the base rate. The smaller sub-fund is more general in its investment mandate, and focuses on junior debt structures while targeting returns of 5-7 percent.

BRIDGE IV is around 50 percent invested. The energy transition subfund has invested in a range of projects from solar panels to offshore wind and biomass facilities. These investments are certified by the French government’s Energy and Ecological Transition for the Climate label.

Edmond de Rothschild launched its first BRIDGE infrastructure debt fund in 2014 and raised €595 million. BRIDGE II and III raised €310 million and €145 million respectively.