Exclusive: InfraVia Fund III to reach final close in Q3

The French manager is expected to hit its €750m target for its latest vehicle before the end of the summer.

Paris-based infrastructure fund manager InfraVia is expected to hit the €750 million target it has set for its third European fund before the end of the summer, Paul Buckley, managing partner and founder of placement agent First Avenue, told Infrastructure Investor.

The firm launched InfraVia European Fund III in September last year after pre-marketing the vehicle during the first semester.

Fund III will follow a strategy similar to its €530 million predecessor, which focuses on mid-cap infrastructure assets primarily located in the Eurozone. It will target sectors including midstream and downstream energy in Northern Europe and France as well as telecom towers and networks in Europe and the UK.

Fund II is now nearly fully deployed.

Sources have hinted that robust demand for InfraVia’s latest vehicle may prompt the firm to raise its initial target slightly higher by an additional €100 million or €200 million.

InfraVia declined to comment.

The firm has had a robust deal roaster in recent months. In December, it teamed up with Macquarie Capital to buy 40 percent of Metro de Malaga for roughly €100 million. The deal came after it launched Aurora Infrastructure, a regional Nordic platform composed of two industrial electricity distribution companies, in September.

It had previously bought a portfolio of nearly 300 telecom towers owned by Coillte, a state-backed forestry business based in Ireland, in August.

The firm sold a 49.9 percent stake in French onshore wind farm portfolio company Aalto Power to France's Caisse des Dépôts et Consignations last month.