InfraVia raises €530m

The French firm has closed its European Fund II above its €400m initial target.

InfraVia, the Paris-based infrastructure fund manager, has reached a final close on its latest vehicle.

The firm has collected €530 million for InfraVia European Fund II, which had an original target of €400 million. The close was achieved with a 100 percent re-up rate, Vincent Levita, founder and chief executive of InfraVia, said in a statement.

Launched in 2012, the vehicle is a successor to Europe Fund I, which closed in 2008 on €200 million. It reached a first close in July 2012 on €200 million, and had already doubled that amount by August of the same year. Earlier reports have suggested InfraVia was seeking to seal a final close on up to €600 million.

Like its predecessor, European Fund II targets European midsize brownfield assets across sectors including transportation, energy, utilities and communication.

The vehicle is already 25 percent deployed, Levita said. It has invested in four European infrastructure assets, which comprise the A8 motorway in Germany, the City of Bordeaux regulated gas distribution business (Régaz), the Tempo public-private partnership (PPP) project in France and the RiG electricity distribution network in Finland.

During the first quarter of 2012, the firm also launched a €100 million to €200 million French infrastructure vehicle, along with local firms Compagnie Benjamin de Rothschild and NGE. The fund will focus on regional PPPs.