Equitix, the UK fund manager has “comfortably exceeded” a target of £150 million (€172 million; $235 million) for its second infrastructure fund – Equitix Fund II – and has now upped its target to £250 million by the end of this year.
In a statement, Equitix said all of the fund’s investors – both existing and new – were UK corporate or local authority pension funds. It said it was now in “detailed discussions with a number of additional investors”.
Equitix Fund II is an investor in public-private partnerships (PPPs) and Private Finance Initiative (PFI) projects. The fund – which achieved a first close on £70 million in January this year and passed the £100 million mark in June – has already invested in PFI contracts in the healthcare, street lighting and integrated highway sectors.
Equitix is also part of the consortium that has been granted preferred bidder status for the Greater Gabbard offshore wind energy project, involving the construction of a £317 million transmission line.
“We are pleased with the level of investor interest in Fund II and, as promised, we continue to focus on assets which we expect to generate the predictable, long-term income we are delivering to the Equitix Fund I investors,” said Equitix chief investment officer Hugh Crossley in the statement.
Evercore Partners is acting as Equitix’s sole placement agent on the fundraising.